Bitpush China Blockchain Review

Director of the Science and Technology Department of the China Central Bank Says They Will Formulate the Regulation for the Blockchain

According to Securities Times, Li Wei, the director of Science and Technology Department of the China Central Bank, revealed that they will and formulate regulations for cloud computing, artificial intelligence, and blockchain. 

China Can Entrust a "Commercial Entity" to Issue a Central Bank Cryptocurrency

According to the South China Morning Post, Zhou Xiaochuan, the former head of the People's Bank of China, said that China can entrust commercial entities to issue cryptocurrency. China can obtain experience from Hong Kong that their currency system allows "commercial entities" to issue banknotes backed by the private assets. Zhou Xiaochuan said that by following this currency-linked model, China can avoid the "huge fluctuations" that plagued the initial development of cryptocurrency.  

Yunnan Province and China Mobile Signed a Strategic Cooperation Agreement on the Blockchain Helps Leading Informational Technologies.

According to the Yunnan Daily,the Yunnan Provincial People's Government and China Mobile Communications Group Co., Ltd. signed a strategic cooperation agreement for the "Digital Yunnan" construction in Kunming. According to the agreement, they will focus on the development of eight key industries, strengthen the construction of information and communication infrastructure. Then highlights the information and communication technologies such as 5G, cloud computing, big data, artificial intelligence, blockchain, and Internet of Things. 

The Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference: Libra will impact the traditional payment business 

Chen Yuan, the vice chairman of the 12th National Committee of the Chinese People's Political Consultative Conference and the former chairman of the China Development Bank, said that Libra will play a role in the cross-border payment field, which will have an impact on the traditional payment business. It is necessary to strengthen cooperation between countries and enhanced the relegation.

Nanjing Police Department Seized Nearly 4,000 Bitcoin Mining Machines that Stealing Electricity 

According to Xiandai Kuaibao, Nanjing police department, track down a major case of stolen electricity. The suspects used nearly 4,000 mining equipment, and the value of stolen electricity was nearly 20 million yuan. This is the largest case of stealing electricity in Jiangsu. 

Author: Yihan Xia

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