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Blockchain firm HashCash Consultants claims that banks are “chief arbiters” of people’s identities, and need blockchain technology to do it better. According to an Aug. 11 announcement, “accurate identification of an individual is central to banking activities which makes them the chief arbiter of people’s identities.” Still, the current system is not without its issues: “The …

Blockchain Firm Says Banks Need DLT to Manage Identities Better 查看全文 »

The metals and minerals resource trading subsidiary of Mitsubishi Corporation, Mitsubishi Corporation RtM Japan Ltd, has launched a blockchain platform named ECO for precious metals trading. Developed by Mitsubishi in partnership with the American blockchain company Skuchain, the platform is built on top of Skuchain’s EC3 platform for blockchain-based supply chain management and finance. According …

Mitsubishi Launches Blockchain Platform for Metal Trading 查看全文 »

LongHash said China’s blockchain companies have increased substantially and recorded an all-time high in 2020 despite Covid-19. Blockchain and crypto data platform LongHash revealed on August 8 in a tweet that China’s blockchain sector has grown substantially despite the pandemic this year. It stated that over 10,000 blockchain companies were established between January and July.  The report …

More Than 10,000 New Blockchain Companies Established in China in 2020 查看全文 »

China’s central bank, the People’s Bank of China (PBoC) has signed an agreement with China Minsheng Bank, China CITIC Bank, and the Bank of China for cooperating on a blockchain-based trading platform.  The central bank’s clearing center will leverage the practical experience of the three commercial banks in constructing the blockchain trading platform to develop the PBoC’s …

China’s Central Bank Partners with Three Commercial Banks to Develop Blockchain-Based Trading Platform 查看全文 »

China’s major state-run banks are testing out its central bank digital currency (CBDC) digital wallet application. The Chinese central bank, having said that its CBDC, also known as digital currency electronic payment (DCEP), is “almost ready,” is finally moving a step closer to its official launch nationwide.   According to Wang Zongmin, a former deputy chairman of …

China’s Major State-Run Commercial Banks Test CBDC Digital Wallet 查看全文 »

Leading global investment bank Goldman Sachs is exploring avenues of development to potentially create its own cryptocurrency. As reported by CNBC on August 6, the bank has appointed Mathew McDermott as the worldwide head of digital assets to spearhead the realization of this dream. Blockchain holds the future of financial markets McDermott brings to the table a wide …

Goldman Sachs Explores Development of its Own Digital Token 查看全文 »

The government-owned Swiss bank, bank Basler Kantonalbank (BKB) is set to offer cryptocurrency custodial services as well as trading service, a landmark move in the crypto-centric nation. The project is a collaboration between a BKB subsidiary and Bank Cler, a Swiss Banking Group. A Basler Kantonalbank spokesperson said: “In the BKB Group, we are working to offer …

Government-Owned Swiss Bank to Provide Custodial Services for Cryptocurrencies 查看全文 »

Shortly after Russia’s president, Vladimir Putin, signed the country’s recent cryptocurrency law, the country’s largest bank voiced its considerations. Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives. Sergey Popov, director of the transaction business at Sberbank, says that Russia’s banking giant …

Russia’s Biggest Bank Considers Launching Its Own Stablecoin 查看全文 »

The People’s Bank of China through the use of its proposed Digital Currency Electronic Payment DCEP system aims to tackle the dominance of WeChat Pay and Alipay in the nation’s digital payment ecosystem. The news was reported days after the People’s Bank of China urged the nation’s top antitrust agency to probe the dominance of the two …

Alipay and WeChat Pay Could Be Casualties of China’s Digital Yuan 查看全文 »

Former Chinese banker, Wang Yongli suggested that a push for digital currencies to substitute all currencies is needed to support monetary operation reforms. Wang, the Director of Haixia blockchain research institute and former vice president of Bank of China said that China’s central bank digital currency (CBDC), also known as its digital currency electronic payment (DCEP) should …

China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker 查看全文 »