Last week, Lerong Zhixin, a smart TV maker owned by Shenzhen-listed Leishi, announced its partnership with blockchain firm One Chain Technology to launch a video streaming console that can be used to mine cryptocurrency.
Chinese authorities have arrested 20 individuals for allegedly hacking millions of computers and generating $2.2 million in illicit cryptocurrency mining profits.
According to local news outlet Legal Daily, Chinese law enforcement agencies started investigating the case after the security team at tech giant Tencent alerted the Weifang City Public Security Bureau about a mining script hidden in freely-downloadable Internet browser plugins.
Fan Wenzhong, head of the international department of the China Banking and Insurance Regulatory Commission, has issued a warning on the hype surrounding blockchain technology.
During the 5th FinTech Bund Summit in Shanghai on July 8, Wenzhong said that while blockchain is a significant innovation,
Chinese authorities have arrested a crypto miner for allegedly stealing 150 megawatt (MW) of electricity.
According to Xinhua news agency, police in the eastern Chinese province of Anhui arrested the suspect, identified by his surname Ma, after being alerted to abnormally high electricity usage by the local power grid’s operator.
Chinese tech giant Tencent has announced the formation of the China Blockchain Security Alliance to fight blockchain-related security issues.
Announced during the China Blockchain Security Forum in Beijing on Thursday, the alliance will be composed of Tencent Security, the China Blockchain Application Research Center,
Liquidity solutions provider SharesPost has raised $15 million in its Series C funding round led by LUN Partners and Kenetic Capital.
Founded in 2009, SharesPost offers an online platform that links investors with late-stage venture-backed companies and shareholders. It provides the private tech asset class with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity.
The People’s Bank of China (PBoC), the country’s central bank, has developed a blockchain system that digitizes checks issued by domestic businesses.
Di Gang, deputy head of the digital currency research lab at the PBoC, said that the blockchain system,
China’s president Xi Jinping said that new generation technologies, such as blockchain, are reshaping the global economic structure.
Speaking at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing, Xi said blockchain, artificial intelligence (AI), and Internet of Things (IoT) has been accelerating the rate of “breakthrough applications.”
“Since the 21st century began,
Chinese co-working space provider Ucommune has announced the establishment of its blockchain research lab, marking its official foray into the blockchain sector.
Ucommune provides startups, small and medium-sized enterprises (SME), and corporate tenants with on-demand, short-term leasing, and customized space solutions.
Chinese media and technology giant Tencent has partnered with the Shenzhen National Taxation Bureau to combat tax fraud using blockchain technology.
Tencent will work with the taxation department to establish an “Intelligent Tax” innovation laboratory focused on promoting technological innovation around taxation processes.