Forwarded from 📡Guardians of Hong Kong
China has given away millions in its digital yuan trials. This is how it works
The People’s Bank of China has been developing the digital yuan, a so-called central bank digital currency (DCEP) that aims to replace some of the cash in circulation.
China has already started real-world trials for the digital currency in a number of cities including Shenzhen, Chengdu and Suzhou.
The digital yuan could increase competition in China’s mobile payments market which is dominated by Ant Group’s Alipay and Tencent’s WeChat Pay.
The digital yuan is different from Bitcoin, which is a so-called decentralized cryptocurrency. That means that it is not controlled by any central authority like a central bank, unlike the digital yuan which will be issued by the PBOC.
Source: CNBC #Mar04
https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html
#DigitalYuan #China #DCEP #Bitcoin
The People’s Bank of China has been developing the digital yuan, a so-called central bank digital currency (DCEP) that aims to replace some of the cash in circulation.
China has already started real-world trials for the digital currency in a number of cities including Shenzhen, Chengdu and Suzhou.
The digital yuan could increase competition in China’s mobile payments market which is dominated by Ant Group’s Alipay and Tencent’s WeChat Pay.
The digital yuan is different from Bitcoin, which is a so-called decentralized cryptocurrency. That means that it is not controlled by any central authority like a central bank, unlike the digital yuan which will be issued by the PBOC.
Source: CNBC #Mar04
https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html
#DigitalYuan #China #DCEP #Bitcoin
Forwarded from 📡Guardians of Hong Kong
How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue
One of the great Bitcoin unknowns has long been the amounts being produced, or "mined," in what's believed to be the top locale for mining the signature cryptocurrency: China's remote Xinjiang region. We got the answer when an immense coal mine in Xinjiang flooded and shut down over the weekend of April 17–18.
The blackout halted no less than one-third of all of Bitcoin's global computing power. "We'd seen estimates that high, but this shutdown confirms them," says Alex de Vries, an economist who runs the website Digiconomist, which tracks Bitcoin's energy consumption. "We also learned that the area in Xinjiang where all that mining happens is much smaller than previously believed. It underscores China's dominance in Bitcoin mining, and that dominance raises big security concerns."
Source: Fortune #Apr21
https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/
#Bitcoin #China #Xinjiang
One of the great Bitcoin unknowns has long been the amounts being produced, or "mined," in what's believed to be the top locale for mining the signature cryptocurrency: China's remote Xinjiang region. We got the answer when an immense coal mine in Xinjiang flooded and shut down over the weekend of April 17–18.
The blackout halted no less than one-third of all of Bitcoin's global computing power. "We'd seen estimates that high, but this shutdown confirms them," says Alex de Vries, an economist who runs the website Digiconomist, which tracks Bitcoin's energy consumption. "We also learned that the area in Xinjiang where all that mining happens is much smaller than previously believed. It underscores China's dominance in Bitcoin mining, and that dominance raises big security concerns."
Source: Fortune #Apr21
https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/
#Bitcoin #China #Xinjiang
Forwarded from China in Focus - NTD
In this special episode, we sat down with two guests: researcher and journalist John Mac Ghlionn and Shone Anstey, CEO at LQwD #Fintech.
They touch on the world of #Bitcoin—from the merits and the dangers to the different approaches the United States and China are taking; from embracing it to banning it.
🔥WATCH HERE👉https://youtu.be/W2ty5YqzE78
They touch on the world of #Bitcoin—from the merits and the dangers to the different approaches the United States and China are taking; from embracing it to banning it.
🔥WATCH HERE👉https://youtu.be/W2ty5YqzE78
YouTube
Shone Anstey, John Mac Ghlionn: Why the US and China are taking opposite approaches to bitcoin
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In this special episode, we sat down with two guests: researcher and journalist John Mac Ghlionn and Shone Anstey, CEO at LQwD fintech.
They touch on the world of bitcoin—from…
In this special episode, we sat down with two guests: researcher and journalist John Mac Ghlionn and Shone Anstey, CEO at LQwD fintech.
They touch on the world of bitcoin—from…
Forwarded from China in Focus - NTD
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“There's some dangers with the volatility and the volatility as related to the birth of a new technology. And even the internet in its early days was very volatile," said #ShoneAnstey, CEO at LQwD FinTech, on why the United States and China are taking opposite approaches to #Bitcoin.
🔥WATCH HERE👉https://youtu.be/W2ty5YqzE78
🔥WATCH HERE👉https://youtu.be/W2ty5YqzE78