Hundreds of NFTs listed on OpenSea from Shanghai residents during COVID lockdown
In response to the city’s COVID-19-related lockdown, Shanghai residents turned to the blockchain to preserve their experiences. Go to Source Powered by WPeMatico
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Shanghai includes Metaverse in its development plan
Shanghai’s five-year plan calls for the use of metaverse in public services, business offices, entertainment and industrial manufacturing, among others. Go to Source Powered by WPeMatico
New decentralized stablecoin in China targets international trade
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan. Go to Source Powered by WPeMatico
Shanghai Law Enforcement Officials, Scholars Talk Cryptocurrency
Representatives of law enforcement agencies and academia in Shanghai held a seminar devoted to cryptocurrencies, regulations, and the combating of crypto-related crime. Determining “the legal attributes of virtual currency” was among the main topics at the forum which also focused on matters of financial supervision. Prosecutors and Professors Discuss Crypto Oversight in Shanghai Amid an … Read more
China Has Dispersed Over $40 Million of Digital Yuan in Red Envelopes, Report Reveals
China, which has arguably the most advanced digital currency project among leading nations, has so far handed out more than $40 million in red envelopes with digital yuan. The promotional campaign for the CBDC is currently focused on five major cities, taking into account their regional development priorities. Beijing Gives Away 269 Million Yuan in … Read more
Shanghai to Hand Out $3 Million in Digital Yuan Lottery
As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes … Read more
Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million
The Shanghai-based online game operator The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9 binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company … Read more
Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike
Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace. Go to Source Powered by WPeMatico
Chinese banks pilot digital yuan at Shanghai department stores
The Bank of Communications and China Construction Bank conducted digital yuan trials at two major department stores in Shanghai. Go to Source Powered by WPeMatico
China Launches Digital Yuan ‘Hard Wallet’ Card Pilot Program
The People’s Bank of China (PBoC) have green lighted a physical card-wallet pilot to test its digital yuan. Coffee shop staff in a Shanghai-based university hospital was chosen as participants in the pilot. Wallet Card Can Pay or Accept e-CNY Without Wi-Fi or a Mobile Connection According to Tencent News, staff members at Shanghai Jiao … Read more
