Category Archives: China

Auto Added by WPeMatico

Chinese University to Launch Shanghai Blockchain Research Center

Chinese University to Launch Shanghai Blockchain Research Center

Fudan University in China has decided to setup a blockchain research center in Shanghai. The said university is one of the top-ranked institutes in the country.

According to the announcement, Shanghai Zhongren Information Technology Co, Ltd and Zhongan Online Property Insurance Co, Ltd will collaborate with Fudan University in order to establish the Shanghai Blockchain Engineering Technology Research Center.

The main goal of this initiative is to carry out fundamental level research on blockchain technology. Moreover, the center will provide essential talent training in demonstrating the utility of using blockchain technology in both existing and new systems. It is expected that the center will contribute towards the development of Shanghai economy and help in maintaining sustainable growth and development of the crypto sector there.

In order to promote research in crypto sector, other Chinese universities are offering special scholarships. Recently, the Blockchain Technology Research Scholarship Program (BRSP) was announced by the Institute for Fintech Research at Beijing’s Tsinghua University (THUIFR) in collaboration with Ripple. The program will allow top-notch Chinese graduate students to conduct research regarding international blockchain regulations and its impact on industrial development.

Furthermore, Ripple’s global University Blockchain Research Initiative (UBRI) was joined by the Chinese Institute for Fintech Research (Tsinghua University) earlier in February. Ripple launched the initiative back in June 2018. The aim of this initiative is to promote innovation, academic research and technical advancement in the crypto sector.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Chinese University to Launch Shanghai Blockchain Research Center appeared first on BitcoinNews.com.

Africa, China Mobile Tech Market and Cryptocurrency Revolution

Africa, China Mobile Technology and Cryptocurrency Revolution

Africa may have contributed a great deal to Bitcoin transactions, according to peer-to-peer crypto exchange Paxful. This has been partly due to the increased inflation rate in some countries and the fact that cryptocurrencies appeal to a large number of underbanked and unbanked individuals on the continent.

The quest to venture into cryptocurrency related business relation as the opportunity in this niche currently presents, may not appeal as much to the Chinese tech investors at the moment says Stephany Zoo, head of marketing at BitPesa. She also was of the opinion that cryptocurrency activity for cross-border payments on the continent is not as pronounced as advertised, stating that if it were so, China having a large number of cryptocurrency owners would have influenced its use in Africa since it’s a major trade partner.

Over the years, the African continent has been favorable to the Chinese tech market. As reported by media outlet the Financial Times, Huawei and ZTE played an important role in building the continent’s mobile network.

The tech potential on the continent is yet to be fully optimized though, as new companies onboarding the ecosystem have also taken advantages of the latent opportunities. Last year, Quartz Africa reported on how a low profile Chinese handset maker Transsion rose to limelight due to Africa’s mobile market. However, there is fierce competition between Western and the Chinese tech companies for a larger share of the African market.

According to Zoo, Chinese tech investors are still wary about crypto investments because of the associated risks, saying that they prefer to stick to solar, ed-tech, e-commerce and IoT. The emerging market opportunity for cryptocurrency in the continent is currently not fully explored, although Zoo added that as time goes on, there’s a possibility that more Chinese investors will trust the market as they work with Africans.

Leading global smartphone vendor Samsung will reportedly include a native cryptocurrency wallet feature in its upcoming Galaxy S10, which will go a long way to facilitate adoption on the side of smartphone users. However, it would be remarkable for the brand in relation to the African market since it holds a huge stake there.

Although Samsung came in second place to Transsion in terms of smartphone shipments to Africa during Q2 2018, it remains unknown how the alleged cryptocurrency wallet feature will improve its market share, especially in South Africa which accounts for the largest share of shipments (17.4%) in the continent. Moreover, South Africa may be considering a regulatory framework for the industry, however, in December 2018, it did say it was considering crypto as part of its National Payment System (NPS).

A recent ongoing survey by the Financial Times is attempting to gauge the level of awareness and possible adoption potential of cryptocurrency and Africa happens to be one of the focal points. BitcoinNews will keep tabs on the outcome of the survey to understand what Africans with internet enable devices want from digital currencies.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Africa, China Mobile Tech Market and Cryptocurrency Revolution appeared first on BitcoinNews.com.

Hamas Calls for Bitcoin to Combat Israeli Freeze of Millions of Dollars in Qatari Aid

gaza, hamas

The militant arm of Hamas in Gaza has made an appeal for Bitcoin funds after a decision by Israel to temporarily freeze millions of dollars in Qatari aid to Palestine.

Hamas, the de-facto ruling authority of the Gaza Strip in Palestine is regarded by several countries, including the US and the EU, as a terrorist organization. Russia, Turkey, and China are among those major world powers who do not subscribe to the definition.

The official Telegram channel of Abu Obeida, a spokesman for Hamas’ Izz ad-Din al-Qassam Brigades, made the appeal for Bitcoin asking all lovers of the resistance and the supporters of our righteous cause to support the resistance financially using Bitcoin.

Hamas has been the voice of Gaza since taking power from the Palestinian Nationalist political party Fatah in 2007 after a military conflict, although the Gaza Strip is now blockaded by both Israel and Egypt. Israeli Prime Minister Benjamin Netanyahu’s decision to freeze millions of dollars in Qatari aid – including USD 15 million a month to pay the salaries of Hamas civil servants – has heightened the current tension between Gaza and Israel. Abu Obeida’s latest message hinted at the request for funds:

“The Zionist enemy is fighting the resistance by trying to cut its support by all means, but the resistance lovers in all the world are fighting these Zionist attempts and are seeking to find all possible support for the resistance.”

A recent congressional hearing in the US confirmed that in general, fiat currencies are the preferred choice of funding for terrorist activities or arms and that the success of fundraising for such groups through cryptocurrencies has been limited.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Hamas Calls for Bitcoin to Combat Israeli Freeze of Millions of Dollars in Qatari Aid appeared first on BitcoinNews.com.

Binance Embraces Visa, Mastercard for Crypto Purchases

Binance Embraces Visa, Mastercard for Crypto Purchases

The world’s largest cryptocurrency exchange by volume, Binance, is to enable the purchase of cryptocurrency using both Visa and Mastercard credit cards.

The announcement yesterday that users would now be able to Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Ripple (XRP) using their credit cards has come as a boon to regular users of the exchange. The new facility has been enabled by a new partnership between the Chinese exchange giant and Israel-based payments processing firm Simplex.

We are super excited to announce the new partnership with @Binance – the leading #crypto exchange! Making it easier for mainstream users to buy crypto and continue transforming the financial space.#buycrypto #cryptocurrency #btc #bitcoin #etc pic.twitter.com/icuaLvk6sF

— Simplex (@SimplexCC) January 31, 2019

The other 151 tokens will be tradable against the 4 purchasable tokens using credit cards, according to a statement from Binance. “The crypto industry is still in its early stages and most of the world’s money is still in fiat,” said Binance CEO Changpeng Zhao. “Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”

However, not all countries will be able to take advantage of the new service, including Iraq, Cuba, Afghanistan, and Libya. Even in the USA, some users will have to purchase their tokens in the usual way as New York, Hawaii, Georgia, New Mexico, and Washington are not supported by the new credit card payment system.

Simplex has released details of the fees for the service, indicating that charges will consist of 3.5% of a transaction with a USD 10 minimum (flat fee). The daily limit is USD 20,000 per user, while the monthly max is USD 50,000 per user. It adds that payment processing is subject to “local bank policies” and warns that some issuers may decline charges regardless.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Binance Embraces Visa, Mastercard for Crypto Purchases appeared first on BitcoinNews.com.

Bitmain Targets Development in Revamped 2019 Business Model

Bitmain Targets Development in Revamped 2019 Business Model

Bitmain appears to be in the process of repositioning itself towards development to make 2019 a far more successful year after the disappointments and layoffs of 2018 as cryptocurrency mining came under pressure.

The Beijing mining giant recently referred to last year’s negatives and positives in its latest roundup, but now seems more focused on how to turn things around after rationalizing its business model, not only through the already much hinted administrative changes at the head of the company but also by targeting development. A company blog has recently clarified its direction in 2019, suggesting that:

“Our mission is to produce hardware and software, as part of our commitment to contribute towards the security and stability of a multitude of cryptocurrencies. We look forward to continuing this effort this year, and contributing to a distributed, decentralized world that empowers everyone.”

Bitmain’s recent blog post sees the cryptocurrency industry stabilizing this year, echoing many analysts’ suggestions that institutional investors will revitalize the markets, and clearly envisages a role for ASICs, simplifying cryptocurrencies in a way that encourages their adoption as both a useful and a usable asset.

The company is not alone in hoping that sensible regulation will lead to greater adoption of crypto finance, although such moves will clearly have to wait in the US, where the SEC is running a skeleton staff due to the prolonged government shutdown.

According to the blog, now that the company has undergone significant staff cuts, there is a feeling at the top that a new leaner operation will support Bitmain’s aim to build a more sustainable and scalable business, and suggests that “part of that is having to really focus on things that are core to that mission and not things that are auxiliary”.

Time will indeed tell if consolidated focus and renewed energy in a scaled down company does make 2019 Bitmain’s year of development.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Bitmain Targets Development in Revamped 2019 Business Model appeared first on BitcoinNews.com.

Anonymous Bitcoin Miners Fill Void as Bitmain Sizes Down

Anonymous Bitcoin Miners Fill Void as Bitmain Sizes Down

Blockchain research unit Diar has published new data which illustrates the degree to which anonymous Bitcoin miners are now validating more blocks than any other pool.

This research follows recent announcements that Bitmain, the world’s largest maker of cryptocurrency mining chips, is reported to be laying off up to 50% of its staff in 2019 following huge staff cuts in 2018 in its 11 mining farms operating in China. This forced the company to lay off 3,000 of its staff in December having initially grown from 1,000 employees.

With larger producers such as Antpool, BTC.com, and ViaBTC now validating fewer blocks than this time last year and Bitmain pulling back from mining, it appears that “unknown” miners are becoming a dominant factor of the space. Diar reported:

“[Unknown] miners closed December having solved a whopping 22 [percent] of the total blocks, up from 6 [percent] at the start of last year… The Bitcoin network is currently less likely to experience an attack given the fact the BTC.com controlled pools have lost dominance over the network.”

At the beginning of 2018, Bitmain’s mining pools represented 53% of Bitcoin’s hash power, but with the recent reduction of the company’s influence on the crypto mining industry, those wary of 51 percent attacks are now expressing relief that such attacks will now be far less likely in the future. This means that the world’s flagship cryptocurrency is becoming more decentralized due to Bitmain’s diminishing influence along with the return of anonymous miners.

However, Diar has warned that the growth in hash rate observed over January may be unstainable, especially if Bitcoin returns on its 2018 bearish trend. Bitmain will be watching the market and significant changes could see a return to the former giant’s mining dominance.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Anonymous Bitcoin Miners Fill Void as Bitmain Sizes Down appeared first on BitcoinNews.com.

Mongolian Mining Takes a Leap Forward with Japanese Investment

Mongolian Mining Takes a Leap Forward with Japanese Investment

With the announcement that Japanese company Ginco is expanding its mining capacity, Mongolia is set to experience a surge in crypto mining in 2019, despite the downturn in Chinese mining activity.

The company best known for its Japanese crypto wallet is tripling its output this year from 600 to 1600 miners in the Chinese province.

The news was unexpected given recent developments within the Chinese mining sector. Bitmain, who as of 2018 had 11 mining farms operating in China was forced to lay off 3000 of its staff in December having grown from 1000 employees. A recent statement from the world’s largest maker of cryptocurrency mining chips suggested it would be laying off up to 50 percent of its staff this year.

Ginco’s news comes just a day after Bitmain released more bad news for investors in China that it was stopping the development of their mega mining project in Texas due to the sustained bear market which dragged on through most of 2018.

The news from the Japanese company is certainly good news for Mongolia but not without its difficulties, suggests CEO Yuma Furubayashi who doesn’t necessarily see an easy ride ahead. He claimed that: “The business environment is increasingly harsh, but we can still produce a profit.”

The CEO also suggested that the company had other projects in the pipeline apart from the Mongolian mining expansion; such projects include providing a repair service for existing mining devices.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

 

The post Mongolian Mining Takes a Leap Forward with Japanese Investment appeared first on BitcoinNews.com.

Beijing to Enforce New Blockchain Laws to Monitor Internet Content

Beijing to Enforce New Blockchain Laws to Monitor Internet Content

Cyberspace Administration of China (CAC), the state body for internet censorship, has announced new guidelines for controlling the blockchain space in the country. The plan for tighter control over blockchain service providers was introduced in October of last year.

Beijing’s Blockchain Information Service Management Regulations will take effect from 15 February, showing how urgently the government wants to curb content which it feels might be detrimental to the state.

The new regulation has singled out blockchain providers, despite published comments over the past year coming from Beijing that blockchain has huge potential to streamline business. These regulations state that providers cannot “produce, duplicate, publish, [or] disseminate” banned content under state law.

More specifically, the new rules have defined blockchain providers as “entities or nodes” providing public information through desktop or mobile sites. Any companies providing these services will need to register with the CAC within ten days providing their names, server addresses, service types, and server addresses. No compliance with the CAC will face fines between USD 737 to USD 4,420.

The new regulations have a broad range, also incorporating news reporting, publishing, education, and pharmaceutical services, which would all be required to obtain licenses before registering with the CAC.

China has strict internet laws and the space is highly monitored by the state. It is thought that the tightening of control by the CAC is a response to those who have used blockchain tech in the past in order to circumvent Beijing’s control over the country’s internet content.

The most recent violation of China’s strict internet laws occurred in July 2018 when pharmaceutical company Changsheng Biotechnology was put in the spotlight online by bloggers who listed the firm’s transgressions on the Ethereum blockchain.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: https://pixabay.com/en/china-land-smartphone-search-3303411/

The post Beijing to Enforce New Blockchain Laws to Monitor Internet Content appeared first on BitcoinNews.com.

Etisalat Contracts Tech Firms to Develop Blockchain, AI Solutions

Etisalat Contracts Tech Firms to Develop Blockchain and AI Solutions

In a press release yesterday, Middle East telecom carrier giant Etisalat, through its innovation program Future Now, has signed agreements with four tech companies to develop solutions using blockchain and Artificial Intelligence (AI) technologies.

The signing of the contract happened after the success of Dubai’s Future Accelerator’s Program, which led to the launch of the Future Now project. The four beneficiaries of the contract include Yitu Technology (China), Com IoT Technologies (UAE), 300cubits (Hong Kong), and Tradefin (USA).

As per the press release, the condition for selecting these companies was based on their “capability to build and launch their core technology and be able to demonstrate traction and substantial use cases”.

On the Etisalat part of the agreement, expectations include granting the selected firms “access to Etisalat Digital resources and experts, office space, and support needed to deliver joint projects to Etisalat’s client base”.

Two challenges were created last year by Etisalat Digital – a part of the fifth group of Dubai Future Accelerators – towards the United Arab Emirates (UAE) 2021 economic vision.

One part of the problem dealt with the application of AI behavioral analysis that could stem the tide of crime-related patterns. The companies Yitu Technology (China), and Com IoT Technologies, UAE were given this responsibility as well as to develop a framework solution for road traffic that utilizes CCTVs to automate traffic processes and prevent congestion and accidents.

The other part of the challenge involved a sub-category two-part solution using the blockchain technology. The first part was assigned to 300cubits (Hong Kong) to explore possible solutions “to reduce the transactional costs and complexity in business processes for banks, governments, and private organizations”, by a benchmark of 40% in the course of five years.

The second part of the sub-category solution was tasked to Tradefin (USA) and it involved a focus on “the adoption of blockchain to enable exchange across various loyalty currencies and to transform a loyalty currency into a cryptocurrency that can be used to perform online and physical transactions”.

The overall outlook of this partnership seeks to establish collaborative efforts towards an expedited “adoption of cutting edge technologies”.

Legacy organizations continue to seek mainstream use cases for emerging technologies such as the blockchain. While different organizations deploy their research and development protocols into studying the relative use of this technology, one very obvious remark is that “blockchain forges a bridge between systems, and eliminates the need for siloed inventions”.

The Middle East continues to pride itself as a pro-blockchain zone with numerous innovations surrounding the tech. Not long ago, the UAE partnered with Saudi Arabia to develop a product to facilitate cross border payments. Meanwhile, Kuwait Central Bank shook hands with Ripple to enact cross-border payments.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Etisalat Contracts Tech Firms to Develop Blockchain, AI Solutions appeared first on BitcoinNews.com.

Coinfloor to Launch Derivative Crypto Futures Amid Tough Market

coinfloor derivative crypto futures markets bitcoinnews

Top UK cryptocurrency exchange Coinfloor has told Bloomberg, that it is venturing into the derivatives market despite the seemingly poor market outlook and fierce competition in the futures market, with physically-delivered Bitcoin futures the new emerging derivatives for the asset class.

The CoinfloorEX spinoff of the Coinfloor cryptocurrency exchange will be offering the new physical Bitcoin futures services to sophisticated Asian traders. Meanwhile, it has been renamed to Coin Futures and Lending Exchange (CoinFLEX) for this purpose.

According to the CEO of CoinFLEX Mark Lamb, who is also a co-founder of Coinfloor, “bear cycles in crypto can go on a long time, but ultimately it’s an asset class which is one of the most fascinating, volatile, which is great for traders”. Lamb also downplayed the current market condition, confident that crypto will someday become globally accepted, saying that “it has the potential to be one of the major currencies in the world”.

CoinFLEX will have its base in Hong Kong. The proposed derivatives will include physical futures for Bitcoin, Bitcoin Cash, and Ethereum with leveraging of up to 20 times. Comparatively, top cryptocurrency exchange BitMex, also having a sizeable market in Hong Kong, will be a competitor as it also offers leverage of up to 100 times on some of its contracts. However, CoinFLEX has the advantage of physical delivery as against cash settlements that are prone to manipulation.

Prominent crypto movers have been named as members of a consortium owning the project, including Roger Ver, Mike Komaransky and Trading Technologies International Inc. Meanwhile, Coinfloor is also reported to be retaining an equity stake in the new venture.

It would seem that the market for institutional investors is constantly being expanded with multiple derivative options. “Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that’s holding back that growth is the lack of physical delivery,” said Lamb.

Last year, talks about the proposed Bakkt platform – an Intercontinental Exchange (ICE) project – constantly drove up the expectations of cryptocurrency holders and investors. Its recent announcement included a successful seed round funding of over USD 182 million, and a scheduled launch early this year, however, the date “will be amended pursuant to the CFTC’s process and timeline”.

Another derivative platform, ErisX, recently reeled in USD 27.5 million from Fidelity Investments, Nasdaq Ventures, and other investors during a seed funding round. It is also waiting for approval from financial regulators before launching this year.

Recently, the Japanese financial regulator hinted on the possibility of the launch of exchange-traded funds (ETF) that will be based on the new asset class.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Coinfloor to Launch Derivative Crypto Futures Amid Tough Market appeared first on BitcoinNews.com.