Alibaba Claims Patented Cross-Chain System Is Better Than Cosmos

Alibaba says its “unified domain name scheme” would simplify and improve communication between blockchains. In a patent granted by the U.S. Patent Office last Tuesday, the e-commerce giant said its domain name system could enable cross-chain communications that are more simple and seamless than on existing interoperability solutions, specifically naming blockchain interoperability project Cosmos. Alibaba […]

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Unlike Libra, Digital Yuan Will Not Need Currency Reserves To Support Value: PBOC Official

The head of the People’s Bank of China’s (PBOC) digital currency research subsidiary, Changchun Mu, said China’s cryptocurrency will not need a currency basket to maintain a stable value. Speaking to reporters at The China Finance Association Academic Annual Meeting and China Finance Forum Annual Meeting in Beijing Saturday, Mu said the digital yuan would […]

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Alibaba Denies ‘Partnership’ With Lolli, Highlighting Crypto Industry Pitfalls

On Monday, CoinDesk reported the shopping app Lolli was offering bitcoin rewards to U.S.-based Alibaba shoppers for Singles Day. Alibaba Group representatives have since denied the “partnership” touted by Lolli CEO Alex Adelman. The fissure revealed a common misconception in the blockchain industry. “One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing […]

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