People’s Bank of China (PBoC) Pilots Restrictions on Large-Scale Cash Transactions
The PBOC is looking to combat money-related criminal activities with a new restriction. The restriction, which will first be piloted for two years, will restrict large-scale cash transactions for three specific regions within the country – the Hebei Province, Zhejiang Province, and Shenzhen City. One expert believes that this decision is meant to help with the launch of the Renminbi token (RMB), which has yet to be released.
tags: CBDC Fintech CryptoAssets
China Is Poised for Another Crypto Trading Crackdown as Speculative Fever Returns
Financial regulators in China appear set to crack down on cryptocurrency trading again after President Xi Jinping’s praise for blockchain technology revived speculation in the sector.
tags: CryptoAssets Fintech
Will Blockchain survive Google’s quantum supremacy threat?
The biggest threat to blockchain technology from quantum computing is its ability to break the traditional encryption. However, the sword of Quantum computing is not hanging on Blockchain only but on every platform that is protected with encryption. This would potentially include almost all of the Internet and Digital world we know today.
BRICS Nations Discuss Creation of New Crypto For Unified Payment System
The BRICS nations — Brazil, Russia, India, China and South Africa — are reportedly planning to develop a single payment transaction system between the member countries, which could be carried out in a still-to-be-developed “BRICS” cryptocurrency.