More and more people return to the office to resume work and the epidemic goes will. So, what did Blockchain achieve this week? Let’s review.

01 atest Post

1.Research into China’s sovereign digital currency is delayed amid epidemic

25th February, China’s research into its sovereign digital currency has been delayed from the first quarter due to the outbreak of the coronavirus, but the launch will probably go ahead as planned as the country’s central bank has the technological base, resources and abundant talent to catch up with the process, they noted. Some expect to see the DCEP make its debut in later 2020. “The central bank has been preparing for the launch both technologically and theoretically for a long time. The technological roadmap has been laid out already,” Cao Yin, vice director of the Advanced Research Institute of Blockchain under the Yangtze Delta Region Institute of Tsinghua University said, the central bank’s digital currency team has enough research and development (R&D) employees to deal with a small lag in the research process.

2.6 crypto entrepreneurs make the 2020 Hurun Billionaire List

According to the Hurun Global Rich List 2020 released yesterday 26th February, the world record of 2,816 billionaires has minted 346 new billionaires since 2019 and 35 percent than five years ago. 6 crypto entrepreneurs make the 2020 Hurun Billionaire List, which are from crypto currency exchange and bitcoin mining. This year’s list shows that the 42-year-old founder of Binance, Changpeng Zhao allegedly got $2.6 billion; Ketuan Zhan got $1.6 billion; Okex executive Mingxing Xu, 35-year-old follows behind Zhan’s wealth, has around $1.4 billion; 59-year-old founder of Ripple, Christ Larsen got $1.2 billion; 37-year-old fonder of Coinbase, Brian Armstrong got around $1 billion and 38-year-old founder of Huobi, Lin Li made the list with $1 billion as well.

3.CITIC Asset Management works with local state-owned enterprises to build a rescue fund

On 28th February, Mei Li, Secretary of the Party committee and chairman of China Galaxy Financial Holdings, said that they decided to work with local state-owned enterprises to build a rescue fund for central local cooperation, taking technological innovation enterprises as the starting point to solve the urgent needs for them, industrial upgrading and provide diversified financial support for their development. The fund mainly selects scientific and technological innovation companies in Haidian District, Beijing and other regions with core technological advantages and technological innovation strength, which are facing temporary operating difficulties. In terms of industry coverage, it mainly includes 5G; cloud computing, blockchain, high-end equipment manufacturing, biomedicine, new materials, new energy, energy conservation, environmental protection and other strategic emerging industries, as well as new industries with deep integration of Fintech, culture, consumption and technology.

4.Shenzhen Taxation Administration launches Blockchain invoice with express edition

On 28th February, in order to make the blockchain electronic invoice rapidly radiate, small and micro enterprises that have resumed work,Shenzhen Taxation Administration launched the urgent plan, which upgraded the WeChat payment invoicing function in all-round way, simplified the complicated parameter configuration to the greatest extent, and added the code scanning Invoicing function. The administration also issued the blockchain invoice with express edition that only need to register to get blockchain e-invoice qualification as quick as half an hour.

02 ewest Policies

1.Blockchain is planed into the work report among governments of 22 provinces and cities; e-government becomes an important direction

As of 26th February, 22 provinces (autonomous regions, municipalities directly under the central government) have planned to use the blockchain into the future work report, which not only covers Beijing, Shanghai and Guangzhou, but also Chongqing, Gansu and other central and western provinces have regarded the blockchain as a new track for overtaking on the economic curve. From the content of the government work report, most of them regard the blockchain as the technical support for the optimization and upgrading of their industries and the new growth of the digital economy industry, and put forward more specific and detailed objectives for the development of the local blockchain. Among them, Beijing, Guangdong, Shandong and other seven provinces and cities also mentioned the application scenarios of local blockchain, in which e-government became a common appeal.

2.The People’s Bank of China officially issued the technical security specification for financial distributed ledger

The financial industry standard of the financial distributed ledger (JR/T 0184-2020) was officially released by the people’s bank of Chinaon 26th February. The standard specifies the security system of financial distributed ledger technology, including basic hardware, software, cryptographic algorithm, node communication, ledger data, consensus agreement, smart contract, identity management, privacy protection, regulatory support, operation and maintenance requirements and governance mechanism. The standard is applicable to institutions engaged in the construction of distributed ledger system or operation in finance.

3.IMF Officer: public policy should take into consideration with stable coins

The Commodity Futures Trading Commission’s Technology Advisory Committee held a public meeting on 26th February. Tomasso Mancini-Griffoli, Deputy Division Chief in the Monetary and Capital Markets Department of the IMF emphasized some of the public policy should take into consideration with stable coins. These policies included financial stability, monetary policy control, privacy, competition, efficiency, consumer protection and financial integrity.

4.BOJ’s Amamiya: The Bank of Japan will study the advantages and disadvantages of crypto currency

“When countries consider issuing central bank digital currencies, they must conduct a comprehensive study on how it affects their settlement and financial systems,” Amamiya said in a speech in Tokyo on Japan’s settlement system.

By issuing their own digital currencies, central banks can act as a bridge for private sector money flows and streamline settlement, Amamiya said.

Some emerging economies are looking seriously at issuing central bank digital currencies (CBDC) because of the need to counter money laundering or to deal with a lack of resilient financial infrastructure.

Once again, please continually well protect yourself, avoid going to public places if necessary, wash your hands frequently and wear masks when you have to go out.


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