Chinese Banking Giant CCB Expands Blockchain Platform as Volume Breaks $53 Billion

China Construction Bank, one of the largest Chinese commercial banks, has expanded its trade finance blockchain platform with new abilities, including cross-chain and inter-bank transactions, as trading volume surpasses $53 billion. Speaking in Beijing at the official launch of the upgraded platform BCTrade2.0, CCB vice president Ji Zhihong said the new platform will leverage blockchain […]

Continue Reading

Central Banks, Stablecoins and the Looming War of Currencies

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. […]

Continue Reading

China’s Central Bank ‘Close’ to Launching Official Digital Currency

An official at China’s central bank has said the institution is nearing the launch of its digital currency. Speaking at an event in China over the weekend, Mu Changchun, deputy director of the payments unit at the People’s Bank of China (PBoC), said its researchers have been hard at work since last year to complete the […]

Continue Reading

China’s New Policy Isn’t An Automatic Bitcoin Mining Ban – Here’s Why

The Takeaway: A draft proposal from China’s economic planning commission labels bitcoin mining as an industry that needs to be “eliminated.” But even if finalized in its current form, this would not automatically amount to an outright mining ban. While local governments are supposed to follow the commission’s guidance, to take action against an industry […]

Continue Reading