Analysis
The notion of China racing to launch a CBDC that will end U.S. monetary supremacy doesn't hold up if you look at the facts on the ground.
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Alipay News
Alipay is one of the largest global payment systems that belongs to the Alibaba Group. Alipay was founded in 2004. The payment system is used not only for processing payment for Alibaba Group goods, but over 460,000 other companies use Alipay as well. In 2015, the company announced the initial public offering of Alipay stocks, which will be available only for Chinese citizens. In 2017, the company announced the launching of Alipay in the U.S. In 2018, Alipay started to conduct experiments using blockchain technologies to provide payment processing. The first experimental blockchain-based payment was processed between Hong Kong and the Philippines. The transaction took just three seconds, so the company is currently planning to use the technology on a global scale.
- Newsletter
Lawmakers are prepping new tools to pursue tech firms accused of anti-competitive business practices.
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A representative for the Jack Ma Foundation confirmed to reporters that the businessman had “participated in the online ceremony of the annual Rural Teacher initiative event on January 20.”
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The platform is just the latest product in the fintech’s long-evolving blockchain solutions.
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Trusple platform promises to apply blockchain, AI and IoT technology to streamline cross-border trading processes for SMEs.
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China’s Ant Group is prepping for the largest IPO in history.
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China’s central bank may be planning to use its digital currency to curb the dominance of Alibaba and Tencent in the digital payments sector.
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Chinese multinational tech group ByteDance is seeking a virtual banking license in Singapore as a means of entering digital finance.
21855 - Analysis
Crypto pundits believe that central bank digital currencies based on public-private partnerships could see the light of day much sooner, as many solutions under development use the approach.
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Ant Financial launched a new consortium blockchain platform for SMEs and developers.
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Chinese payments platform Alipay has revealed more details of its role in China’s upcoming CBDC ecosystem through a series of patents released over the past month.
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Alipay is seeking to lure 44 million merchants with mini programs to expand services for the firm’s 900 million users.
3785 - Interview
Blockchain education firm Odem has offered free access to its platform to schools and universities facing disruptions as a result of the coronavirus.
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The new Coronavirus outbreak has pushed Chinese officials to track individual citizens by their medicine purchases, which presents major ramifications for crypto.
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Insurance firms in China use blockchain to manage coronavirus-related claims amid the outbreak.
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