Tencent launches NFT platform. A neighborhood courtroom builds blockchain · janaseva Information l Janaseva News

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Tencent launched a non-fungible token (NFT) buying and selling platform. A neighborhood Chinese language courtroom is constructing a judicial blockchain to enhance mental property litigation processes. China’s central financial institution mentioned in a piece assembly that they’d proceed to crack down on cryptocurrencies.

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The world of blockchain strikes quick, and nowhere does it transfer quicker than China. Right here’s what you could learn about China’s block-world within the week of July 28 to August 3.

Tencent launches an NFT platform

Chinese language tech large Tencent launched an NFTs buying and selling platform referred to as Huanhe on Monday. The platform promoted the launch by issuing 300 NFTs type as vinyl information primarily based on the favored Tencent-developed superstar discuss present “Shisanyao.” Every bit is priced at RMB 18 ($2.8). The platform is planning to promote NFTs within the types of video, audio, images, 3D fashions, and others, in accordance with the platform’s introductory textual content. (Wu blockchain)

Courtroom builds judicial blockchain

A neighborhood courtroom within the northeastern Chinese language metropolis of Hulunbuir, Internal Mongolia, mentioned in an official WeChat put up that it’s constructing a judicial blockchain to enhance litigation processes for mental property instances. The Hulunbuir Intermediate Folks’s Courtroom mentioned it needs folks to submit proof via the blockchain and use timestamp features to protect the proof. The courtroom is at present testing the blockchain. (Hulunbuir Intermediate Folks’s Courtroom, in Chinese language)

Central financial institution vows to proceed crypto crackdowns

China’s central financial institution mentioned it would proceed its crackdown on digital currencies in a piece assembly for the remainder of the yr. A piece report launched Thursday listed regulating the expansion of fintech platforms and punishing unlawful digital foreign money actions as priorities.

Extra digital yuan implementation

  • Greater than 10 industrial banks in China have began to construct groups to help digital yuan companies, the twenty first Century Enterprise Herald reported. State-owned banks are at present the main operators for digital yuan trials, which started in late 2019. The report discovered a lot of smaller industrial banks, some privately-owned however not all, are working to help digital yuan. China Minsheng Financial institution just lately posted hiring ads for digital yuan managers. Different banks embrace the Suzhou Rural Industrial Financial institution, the Financial institution of Shanghai, the Financial institution Of Changsha, and the Financial institution of Xi’an. (twenty first Century Enterprise Herald, in Chinese language)
  • Beijing’s metro system expanded digital yuan help on Aug. 1 to incorporate transport card machines and manned ticket cubicles. The subway system started a pilot program in late June that enables folks to pay fares with digital yuan utilizing the metro authority’s Ruubypay app, often called Yitongxing in Chinese language. (MPayPass, in Chinese language)

Qin is a Information Editor at janaseva Information. Beforehand, she was a reporter at Inkstone, a China-focused information web site owned by the South China Morning Put up. Earlier than that, she labored in the US for 5 years….

Louis Hinnant is an intern at janaseva Information. He is at present overlaying cleantech and mobility.

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