Alibaba-Backed AI Startup SenseTime to Help China Handle Digital Yuan
Alibaba-backed AI startup SenseTime partners with China’s central bank to collaborate on the digital yuan amid reported trials Go to Source Powered by WPeMatico
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Starbucks and McDonald’s Rumored to Be Testing China’s Digital Currency
Starbucks and McDonald’s shops in Xiong’an will reportedly support payments with China’s digital yuan Go to Source Powered by WPeMatico
Bank Of China Says Digital Yuan Will Not Cause Inflation
Bank of China officially replies to the public about the digital Yuan and says it will not cause inflation Go to Source Powered by WPeMatico
China’s Digital Yuan Reportedly to Test in Four Cities
A testing app for China’s forthcoming central bank digital currency appears to be ready for download in four cities Go to Source Powered by WPeMatico
Can China’s Economy Bounce Back from Coronavirus?
Source: Unsplash As cases of the COVID-19 virus have continued to rise in every corner of the world, the economic costs have quickly become just as apparent as the human costs, the true extent of which we will likely not know in full for a long time. Entire industries such as travel and tourism are … Read more
China Tracks Victims of Coronavirus with WeChat and Alipay
Chinese province tracks victims of coronavirus with WeChat and Alipay, does crypto solve this? Go to Source Powered by WPeMatico
Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates
The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that Beijing … Read more
Maduro Opens Crypto Casino in Venezuela
Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in the casino. The proceeds are expected to be used for healthcare and … Read more
China Takes Another Step Away From USD Hegemony
The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation … Read more
Central Bank of China Official Says Digital Yuan Will Be Different From Bitcoin
An official at China’s central bank says that the digital form of the yuan will be different from Bitcoin and stablecoins Go to Source Powered by WPeMatico
