Chinese Economist Says 2020 Is the Tipping Point for Blockchain

The Tencent blockchain accelerator entry contest was held recently in Shenzhen China. Its theme concerned “blockchain industry and ecological co construction”.

According to the local news on July 2, Professor Zhu Jiaming, former economist of United Nations Industrial Development Organization and the President of Chinese Digital Assets Research, believes “2020 is an important year for integrating blockchain in different industries,

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China Highlights Blockchain in Pandemic Preparedness Strategy

Chinese authorities are trying to strengthen their epidemic preparedness and have identified blockchain as a key component of the response. 

The Chinese Circular of the National Health Commission released its plan on June 30 on how to ramp up its information technology support amid future pandemics. One component of the strategy is the use of blockchain technology for enhancing data sharing among medical institutions.

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Chinese City Issues Post-Pandemic Consumer Vouchers on the Blockchain

In order to reduce the COVID-19 pandemic’s impact on business, Chinese governments at all levels have been coming up with different policies and solutions to help the economy survive. 

Nanjing, the capital of China eastern Jiangsu province, is one of the first cities in China to leverage blockchain technology and issue so-called “consumption vouchers” on the blockchain as a kind of crypto-driven stimulus package,

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Blockchain Firm Pitches CBDC Operating System to Bank of England

United Kingdom-based blockchain firm L3COS has submitted a proposal to the Bank of England, or BoE, for a blockchain-based operating system to power a central bank-issued digital currency, or CBDC.

L3COS described the proposal as a response to the consultation document on CBDC published by BoE in March — which identified several benefits and challenges associated with central bank virtual currencies and invited feedback from technology providers,

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South African Solar Energy Blockchain Startup Raises $3 Million, Plans to Expand Across Continent

South African blockchain peer-to-peer renewable energy platform Sun Exchange obtained a $3 million investment from Arch Emerging Markets Partners, thereby closing its $4 million Series-A funding round, according to a statement issued Monday.

Sun Exchange allows international clients to buy remotely-located solar cells — either with Bitcoin (BTC) or South African rand — and then lease them to power businesses and organizations in emerging markets.

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This Chinese City Is Launching a Blockchain Notary Program

Local media outlets are reporting that a blockchain-powered pilot program will provide a wide range of notary services in Suzhou, China.

According to China Quality News, authorities of Suzhou announced on June 5 that this program aims to help millions of citizens access legal and government offices via the internet.

The pilot platform,

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Blockchain Platform to Track $2.5B Worth of Tea Products

The Chinese province of Yunnan announced the official launch of a blockchain-powered traceability platform for its Pu’er tea farms on June 3.

The blockchain platform was first announced in the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan.  They will use the platform to conduct quality control,

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Blockchain Is Part Of China’s Master Plan for New Competitor Island to Hong Kong

Chinese authorities have released a master plan for turning southern island province Hainan into a free trade port, Xinhua news reports on June 1. A trade port system will focus on facilitating free trade, investment and cross-border capital flows in the whole island.

Government institutions reform

The master plan encourages government institutions to use blockchain and other technologies to reform government function.

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Alibaba Signs Blockchain-Related Deal With Chinese Port Operator

China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases.

According to local media, the platform will allow buyers,

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In Congress, a New Bill Asks for Mass Survey of Blockchain Technology in the US

On May 19, Representative Brett Guthrie (R-KY) introduced the “Advancing Blockchain Act.” Per a May 18 draft of the legislation obtained by Cointelegraph, the bill asks the Federal Trade Commission and the Secretary of Commerce to put together a new survey of blockchain’s uses and the state of adoption in the United States.

Establishing jurisdictions for different federal agencies?

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China Officially Recognizes Blockchain Jobs as New Occupation

The ongoing coronavirus pandemic is transforming blockchain companies, and its impact is not always negative for the blockchain industry. Amid the latest coronavirus crisis-fueled changes, China is taking another step toward blockchain adoption to officially recognize industry jobs.

China’s Ministry of Human Resources and Social Security, or MOHRSS, is the ministry responsible for national labor policies and regulations.

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China’s Central Bank Wants to Speed Up Blockchain Adoption

The People’s Bank of China, or PBoC, Financial Technology Committee held its first meeting of the year this week. During the meeting, the central bank’s deputy governor, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated.

According to a report released by Sina on May 13, the bank’s deputy governor met with both PBoC officials and the heads of their affiliated financial companies.

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Report: Blockchain to Increase Royalty Streams to Artists in the Digital Music Industry

The transition of royalty payments into the blockchain should empower artists in the music industry by increasing their bargaining power for asking higher payouts, claims a report that blockchain-based digital music platform, OPUS has shared with Cointelegraph.

According to OPUS’ study, given the novelty of introducing blockchain to the digital music streaming services market,

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WeBank Ranks Third in Blockchain Patent Filings For 2019

China-based digital bank, WeBank, rose to third place for number of Blockchain patents filed globally in 2019. Alibaba and Tencent took the first and second places respectively.

According to the report published on April 24, the digital bank has climbed from fifth place to third after filing nearly 632 patents in 2019.

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A Major Chinese Bank Unveils the Banking Sector’s First Blockchain White Paper

The Industrial and Commercial Bank of China (ICBC) has released a white paper on blockchain technology applications in finance. According to Sina Finance, the paper is the first of its kind in the banking sector. 

The document analyzes the current pain points in the financial sector, and compares Chinese trends in blockchain development to those taking place overseas.

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China Sees New Blockchain Innovation Alliance, With Huawei and Alibaba as Members

China has welcomed its first provincial-level Blockchain Innovation Alliance on April 14, according to ChinaNews. 

Major enterprises settles 

More than 100 well-known enterprises, both domestic and foreign, have joined the alliance. Members include Inspur, Tsinghua Unigroup, Huawei, IBM, Tencent, Alibaba and Baidu, according to the announcement. 

The Alliance is located in the intelligent industry cluster in Yuzhong District.  

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Coronavirus Pandemic Is Reshaping Blockchain Companies’ Roadmaps

The coronavirus pandemic has been affecting more and more aspects of the blockchain and cryptocurrency market. As Cointelegraph previously reported, more than half of the 2020 crypto conferences were either canceled or postponed due to the COVID-19 outbreak, while mining manufacturers had to stop the equipment production in China.

At the same time,

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Blockchain to Authenticate Coronavirus-Response KN95 Face Masks From China

As the United States continues to struggle with a shortage of N95 masks needed to combat the deadly coronavirus, the Food and Drug Administration announced on April 3 that it has approved the use of KN95 masks in the country.

Unlike N95 masks that are tested and certified by the National Institute for Occupational Safety and Health,

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Researchers Design Blockchain-Based Digital Court In Japan

A group of researchers has devised a blockchain-based mechanism to perform legal functions in a so-called “digital court,” according to an April 6 announcement.

Professors Hitoshi Matsushima from the University of Tokyo, and Shunya Noda from the University of British Columbia, have been leading the project, which aims to settle legal disputes without the need for a “costly legal process.”

In the announcement,

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BTC Worries, Buterin ‘Embarrassed,’ Blockchain Fights Coronavirus: Hodler’s Digest, March 23-29

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

A calmer week for Bitcoin — but price may not return to $10,000 soon

Bitcoin remained largely steady in the mid-$6,000s for most of this week but failed to punch through levels above $6,900.

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Japan's Financial Regulator Launches Global Blockchain Governance Initiate

Japan’s financial regulator announced the launch of its global Blockchain Governance Initiative Network (BGIN) on March 10. The BGIN intends to foster the “sustainable development of the blockchain community.”

The Financial Services Agency Japan (JFSA) announced the new initiative during the “BG2C – Special Online Broadcasting Panel Discussion,” which the JFSA hosted in partnership with Nikkei Inc.

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Blockchain as a Tool to Combat Coronavirus

COVID-19 — more commonly known as the coronavirus — has unleashed massive shock waves among the worldwide health, science, government and business communities as societies are trying to contain the virus. At the moment, the scale and velocity at which the coronavirus is spreading are proving difficult to manage because the regional clustering of the outbreak has moved beyond the initial Hubei province of China to South Korea,

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New Malta Government Says It Still Wants to Run a ‘Blockchain Island’

Last week, the financial watchdog of Malta came forward with an unexpected statement. Apparently, Binance, a leading cryptocurrency exchange that had been enjoying a close relationship with local authorities, is not authorized “to operate in the crypto currency sphere,” as the regulator’s press release stressed. 

While the Malta Financial Services Authority has yet to license any cryptocurrency business — and not just Binance — under the country’s widely marketed cryptocurrency framework,

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MIT Professor: Blockchain Is Good on Its Own but Not Good for Voting

Computer scientist Ronald Rivest has said that blockchain is not the right technology for voting, although it can find proper application in a number of other areas.

Rivest delivered his opinion at the RSA Security Conference, held in San Francisco earlier this week, technology-focused news outlet ITWire reported on Feb. 28. Rivest — who is a cryptography expert and a professor at the Massachusetts Institute of Technology — called voting an interesting problem that requires a more stricter approach compared to many existing security applications.

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The State of Blockchain: Experts Weigh in on Adoption Around the World

Blockchain usage is exploding around the world. But despite the technology’s many vocal advocates, the spread of technology is never even. Adoption is limited by a number of factors, including infrastructure development, local resources and regulation.

As happens with the spread of any emerging technology, certain regions are pulling ahead of the pack.

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