The Information Technology and Innovation Foundation (ITIF), a think tank for science and technology policy, has applauded the Trump administration’s efforts to curb China’s alleged “pattern” of abusing economic and trade policy to gain unfair advantage in key industries. But ITIF cautioned the administration against imposing tariffs on producer goods that support US productivity growth.
The Investment Association of China (IAC) is reportedly establishing a funding center in a bid to support blockchain development efforts in the country.
Founded in 2001, the IAC reports directly to China’s National Development and Reform Commission, the major government agency in charge of economic and investment reform in the country.
China’s Ministry of Industry and Information Technology is advocating to establish blockchain standards “as soon as possible.”
The ministry’s division of Information and Software Services will team with the China Electronics Standardization Institute in a committee to devoted to blockchain standards. China is already a member of the International Organization for Standardization (ISO),
Zhou Xiaochuan, governor of the People’s Bank of China (PBoC), said China is in no hurry in developing its own cryptocurrency.
Speaking at a press conference amid the Two Sessions, China’s annual political event, Xiaochuan said the development of a digital currency should be a prudent progress and excessive speculation must be avoided.
Zhang Ye, director of the technology unit at China’s Securities Regulatory Commission, said that blockchains are better if not completely decentralized.
Speaking at the People’s Political Consultative Council of China as a policy advisor, Ye said that China’s public sector should devote “great attention” to the development of advanced technologies such as artificial intelligence (AI) and blockchain technology.
Chinese regulators are reportedly targeting the social media accounts of cryptocurrency exchanges that still have a presence in the country.
According to Beijing-based media outlet Caixin, regulators are ramping up their efforts even further to completely clamp down on crypto activities in the country.
Chinese e-commerce platform T-Mall is reportedly adopting blockchain technology to trace and monitor the whole process of imported goods from producers to consumers.
T-Mall, operated by Chinese e-commerce giant Alibaba Group Holding Limited, is a platform for Chinese and international businesses to sell brand name goods to consumers in mainland China,
Ripple has struck a deal with Chinese payments giant LianLian International, which claims 150 million registered users in the region, to join its RippleNet payments service.
LianLian processes billions in payments between merchants and consumers, including major online retail sites such as Amazon,
The government of China is reportedly planning to block all offshore websites related to cryptocurrency trading and initial coin offerings (ICO).
According to an article published by Financial News, a publication affiliated with the People’s Bank of China, recent attempts to stamp out cryptocurrencies by shutting down domestic exchanges had failed to completely eradicate trading.
Samsung Electronics, the world’s second largest chip manufacturer, has confirmed it has a contract to supply an undisclosed Chinese bitcoin mining hardware manufacturer with semiconductors. The move continues the electronics giant’s move into the sector, following its recent agreement with Russian-based bitcoin mining hardware company Baikal.