Coin Outlook

Linking to China's first-hand information and stories of blockchain industry. Taking you to the world of blockchain.

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Lu Lei, the deputy head of the Chinese regulator State Administration of Foreign Exchange (SAFE), said that there are plans to use #blockchain and #AI in cross border financing, with particular attention devoted to risk management applications.

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** Top Companies in Blockchain Patents **

The top 10 players of chinese patent applications in the blockchain space are as follows:

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China's Ping An Insurance to Spend $22B on Tech, From AI to Blockchain

Ping An Insurance wants to be valued more like a technology company. Its executives have yet to convince investors their planned $22 billion spend on everything from #AI to #blockchain will work.

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Tencent, Chinese internet giant, said the proposed launch of Facebook's #Libra cryptocurrency would pose serious risks to existing digital payment systems.

“Any internet company that has a relatively mature digital payment system would be threatened by the stablecoin.”

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🧐🧐 A Poll Conducted Among University Students in China:

🗨️ 27% of the young people in the survey indicated they would seek employment in the growing #blockchain industry in the future.

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#Binance to support #WeChat and #Alipay for buying bitcoin in China

#Cryptocurrency exchange Binance is set to add 2 more channels to its fiat gateway - WeChat & Alipay, allowing users in China to buy #BTC with the 2 payment options.
The initiative is in a testing phase.

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#HSBC Executes #Blockchain Letter of Credit(LC) Transaction in Malaysia

The LC was for the import of resin by Malaysia’s Simply Packaging from a Singapore company. HSBC Malaysia acted as the issuing bank, and HSBC Singapore was the advising bank.

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Chinese Banking Giant #CCB Expands #Blockchain Platform
China Construction Bank has expanded its trade finance blockchain platform with new abilities, including cross-chain & inter-bank transactions.
The platform offers factoring & forfaiting services to exporters.

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#China Launches Nationwide #Blockchain Service Network (BSN)
The BSN was launched by the State Information Center (SIC), China Mobile, China UnionPay & other institutions. It aims to improve the blockchain sector layout and serve the development of smart cities & #digitaleconomy.

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China Ant Financial, #Alibaba Cloud & Caitong Securities have reached cooperation partnership and will start #blockchain-based projects.
They will work on Ali #Apsara Cloud, Big Data, and blockchain projects to promote the application of financial tech in the securities industry.

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#Binance users can now buy #cryptocurrencies using their Visa and MasterCard debit and credit cards.

Binance clients are able to buy five cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP and Bitcoin Cash ABC (BCHABC).

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Chinese Tech giant #Tencent leads $20M Series A for London #blockchain supply chain startup Everledger.

“We will launch the world's 1st #WeChat Mini Program for blockchain-enabled diamonds, uniting key stakeholders in the diamond value chain."

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#Cryptocurrency's Huge Potential in China's #Luxury Retail

Luxury buyers are demanding sustainability and supply chain visibility, and #blockchain has become a convenient tool for revolutionizing that whole area of the #fashion industry.

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China #Alibaba to hold 2019 #Apsara Conference in Hangzhou from September 25-27, 2019.
The conference has 2 main forums, more than 110 summits & sub-forums, covering machine intelligence, 5G, cloud native database, biometrics, blockchain, self-driving & heterogeneous computing.👏

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China's Central Bank: #DigitalCurrency Has "No Timetable" for Launch

The People's Bank of China (#PBoC) has now denied Beijing is ready to debut its new financial asset.
According to the news, the PBoC "needs to research, test, evaluate and prevent risks.”

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Chinese insurance giant Ping An's blockchain unit eyes US IPO

OneConnect, the #blockchain and #fintech arm of China's biggest insurer by market value Ping An, could launch an initial public offering (IPO) in New York in mid-November, 2019.

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Popularity of #Bitcoin in China consistently rises in 2019, fueled by 150% rally.

The popularity of the keyword Bitcoin on major search engines in China has been on the rise since early 2019 following the strong rally of the bitcoin price.

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Co-founder and former CEO of China's first crypto exchange BTCC : The Chinese always saw bitcoin as an investment, not for payments.

What's your opinion?

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The European Union Science Hub: "Blockchain Now and Tomorrow" Report.

It states that #blockchain is "one of the technologies which will have a profound impact over the next 10-15 years".
It finds that #China was the only nation to accelerate the number of startups from 2017-18.

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#Blockchain spend in China has increased at 101.7% during 2018 to reach US$ 877.2 million. Over the forecast period (2019-2025), spend on blockchain is expected to record a CAGR of 45.7%, increasing from US$ 1,622.1 million in 2019 to reach US$ 22,594.1 million by 2025.