The East Asia crypto market has reacted fast to news of Beijing’s national digital currency and regional economic tumult. Cryptocurrencies — and Tether (USDT) in particular — could be playing a key role in recent capital flight from China, according to a new report from blockchain analytics firm Chainalysis. The report states that over 44%…
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A local government in China has endorsed a public blockchain infrastructure project. Conflux Network, a permissionless blockchain project, announced that it has been endorsed by government officials from the Chinese province of Hunan on Aug. 19. The company was previously endorsed by the Shanghai Municipal Government for similar reasons. Hunan province, located in south central…
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Despite the interest currently surrounding the digital yuan, some are not yet sure of the project’s overall scope and mainstream viability. With the coronavirus pandemic continuing to wreak economic havoc all over the world, China’s commitment to releasing its much-hyped digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP —…
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Check out this week’s Bad Crypto podcast. Last week, the Bitcoin news was all about lift-off. This week, it’s all about the leveling off. Bitcoin ends the week around $11,400, a fall of about 2.7 percent over the last seven days. That drop included a correction of $700 in one day so the question now…
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Collaborating with the government is never easy. Back in July, the Beijing government released its first blockchain application blueprint concerning government services in China. According to Neo Wang, managing partner at public blockchain CWV, this application fell far short for people interested in contributing to the initiative. He told Cointelegraph China that the bar for…
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Cointelegraph’s recent China blockchain event spanned five continents and attracted 100,000 viewers. Around 100,000 people in total attended the 2020 Great Bay Area International Blockchain Week, hosted by Cointelegraph China and Cointelegraph in Shenzhen’s Great Bay district in the first week of August. Guests were divided between those who participated online and offline, according to…
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Former core Grin developer Gary Yu mined $118 worth of GRIN cryptocurrency in less than 24 hours with a Grin ASIC mining device. Grin (GRIN), a major privacy-focused cryptocurrency, is apparently no longer resistant to mining with Application-Specific Integrated Circuits — or ASICs — according to a former core developer. Gary Yu, a former core…
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Bitcoin is one of the few ways to move an entire fortune abroad, Bitcoin bull Max Keiser says. Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes. Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that…
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China’s first government-backed blockchain initiative has just launched an official international website. China’s blockchain-based Service Network (BSN), the country’s nationwide blockchain project, has just launched an official international website. Appearing on Aug. 10, the new english-language BSN website aims to help bring global developers to the project. Integration with six permissionless blockchains He Yifan, CEO…
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With more chips produced outside of Asia and more countries offering cheaper power, China’s mining dominance may not last said Jameson Lopp. China’s dominance in Bitcoin mining may not last as more mining chips are produced and other countries offer cheap power sources, said cypherpunk Jameson Lopp in a blog post. Lopp noted China has…
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