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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China’s Biggest Payment Firms Have No Plans to Follow Facebook into Crypto

China’s internet giants appear unlikely to follow Facebook into the cryptocurrency space anytime soon – though you can be sure they’re paying attention. Pony Ma, the CEO of Tencent, the parent company of social messaging and payments app WeChat, said Wednesday that he thinks regulation will be the deciding factor for the success of Facebook’s Libra initiative. “The technology […]

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Alibaba’s Ant Financial Backs $10 Million Round for Blockchain Privacy Startup

QEDIT, a developer of privacy technology for enterprise blockchains, has closed a $10 million Series A round from investors including Ant Financial, the payments affiliate of Chinese e-commerce giant Alibaba. Ant Financial will also be incorporating QEDIT’s zero-knowledge proof (ZKP) tech into its blockchain projects, the companies announced Tuesday. Other high-profile partnerships applying QEDIT’s ZKPs […]

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