Binance CEO Chaopeng Zhao: Build a Decentralized Financial System in Full Speed Blockchain

Binance CEO Chaopeng Zhao: Build a Decentralized Financial System in Full Speed

“From $0.003 in the first transaction of BTC in 2010, to $6,000 support in 2018, BTC has grown 2,000,000 times in the last 7 years. Let’s dare the crypto market will do 1/2000th of that in the next few years? 1000x.” – Chaopeng Zhao Chaopeng Zhao, the founder and CEO of Binance, which emerged out of nowhere last year to become the world’s largest cryptocurrency exchange, is a down-to-earth billionaire though sitting on one of the industry’s largest fortunes. In an interview with hiswift News, CZ shared with us about the company’s plans to launch fiat-to-crypto exchanges on almost every...
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Alibaba Seeks To Increase Administrative Intervention In Blockchain With New Patent Blockchain

Alibaba Seeks To Increase Administrative Intervention In Blockchain With New Patent

Chinese e-commerce giant Alibaba has filed a patent for a blockchain system which allows government agencies or other third-party trustworthy institutions to halt a smart contract or freeze an account in case of illegal activities. According to the patent application published by the United States Patent and Trademark Office on October 4th, the Hangzhou-based firm submitted the application in March through Alibaba Group Holdings Limited which is registered in Grand Cayman. The patent document highlights that while blockchain technology boasts a number of  advantageous features like openness, unchangeability, and decentralization, it fails to take some practical factors in the regulated real world into account. Further, Alibaba’s researchers express concern...
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Chinese Bike-Sharing Behemoth Ofo Denies Using GSE Tokens To Raise Funds Blockchain

Chinese Bike-Sharing Behemoth Ofo Denies Using GSE Tokens To Raise Funds

The Chinese bike-sharing startup ofo denied the media report claiming that it used a cryptocurrency known as GSE( Global Sharing Economy) for fund raising. Local news outlet Bianews reported on Tuesday that ofo used GSE tokens for a new round of financing in July, one month after the token got listed on crypto exchange Gate.io and a token fund, a digital assets investment platform,subscribed for a a share of GSE tokens which worth 600ETH, citing a source with knowledge of the matter. Besides, a senior official at the Token Fund disclosed that this round of ofo funding was a swindle  since...
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China  Plans To Create Three Blockchain Standards in 2018 Blockchain

China Plans To Create Three Blockchain Standards in 2018

The China Electronics Standardization Institute (CESI), the major think tank directly under the the Ministry of Industry and Information Technology (MIIT) for standardization in electronics and IT industry, is getting ready to release three blockchain standards on smart contract, privacy and deposits, in a bid to better guide the development of blockchain industry in the country, according to local news outlet DeepTech. Li Mining, a director of the blockchain research lab under the CESI, said in a recent interview with DeepTech that these three blockchain standards will be association-based, rather than national standards which will be the basis for the...
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Crypto Giants Elbow into Top Richest in China Blockchain

Crypto Giants Elbow into Top Richest in China

As the rapid rise of the blockchain and cryptocurrency industry, crypto giants in China are particularly eye-catching. According to the Hurun China Rich List 2018 released on October 10, big names in the crypto space have been seen on the list for the first time. Bitmain’s founders Micree Zhan and Jihan Wu, Binance’s founder Chaopeng Zhao, and OKEx’s Star Xu have all elbowed into the top rich list in China. The rankings include 14 new faces from the blockchain sector, among which 5 are from Bitmain. With 29.5 billion yuan (roughly US$4.3 billion) in wealth, Micree Zhan, the 39-year-old low-profile cofounder and technical mastermind...
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China’s Search Giant Baidu Releases Its First Blockchain White Paper Blockchain

China’s Search Giant Baidu Releases Its First Blockchain White Paper

The blockchain laboratory of Baidu, China’s internet search giant, has released its first ever blockchain white paper, titled “Baidu Blockchain White Paper V1.0” on Wednesday. It outlines the development of XuperChain, Baidu’s independently-developed blockchain network and the company’s commercial blockchain solutions. According to the white paper, Baidu’s XuperChain network is more efficient than traditional blockchains since its “super nodes” use multi-core parallel computing to maximize CPU utilization and increase throughout. The XuperChain is a stereo network that supports parallel chains and sidechains. There is a root chain in the network which manages parallel chains and operating parameters of the entire network, that...
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Decentralized Exchanges Seem Better, More Users Coming Blockchain

Decentralized Exchanges Seem Better, More Users Coming

The essence of decentralized exchanges lies mainly in their ability to attract trading the plethora of ERC-20 tokens that have flooded the crypto market in recent time. They facilitate trading in these tokens for end users while projects get exposure and are recognised in the space. However, despite more decentralized exchanges are springing up, majority of users in communities backing crypto projects still clamour for assets to be listed on centralized platforms. Why? Peer-to-Peer-Architecture-of-Taldea (ResearchGate)
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Alibaba’s Jack Ma Pays “Special Attention” Towards Bitcoin and Blockchain for A Cashless Society Blockchain

Alibaba’s Jack Ma Pays “Special Attention” Towards Bitcoin and Blockchain for A Cashless Society

Jack Ma, the chairman of E-commerce giant Alibaba and China’s leading digital payments platform Ant Financial has demonstrated his interest in Bitcoin and blockchain technology as well as the potential of establishing a cashless society. Although Ma used to hold a doubtful attitude towards Bitcoin and thought it is a bubble,he has changed his mind to a certain extent. “Bitcoin, the thing I want to know is that what value, what things that Bitcoin can bring to the society. But behind Bitcoin, the technology itself, is really very powerful,” Ma said in a recent speech. As the most influential entrepreneur in...
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Sidechains Bring ICOs, Confidential Transaction to Bitcoin Blockchain

Sidechains Bring ICOs, Confidential Transaction to Bitcoin

First, it was the news of an anticipated sidechain with a smart contract feature finally coming to the Bitcoin network. The RSK sidechain is expected to make initial coin offerings (ICOs) possible on the Bitcoin blockchain before the end of the year. Now, the Liquid Network is live as the world’s first production Bitcoin sidechain that facilitates faster transactions between businesses and individuals while enabling extended functionality. The Liquid Network launches as the world’s first production Bitcoin sidechain that facilitates faster and confidential transactions (Credit Blockstream)
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China’s Bank of Communications Issues $1.3 Billion Securities on Its Proprietary Blockchain Blockchain

China’s Bank of Communications Issues $1.3 Billion Securities on Its Proprietary Blockchain

The Bank of Communications, one of China’s largest state-owned commercial banks, has successfully completed a major issuance of residential mortgage-backed securities (RMBS) on a blockchain, local news outlet Securities Times reported on September 27. The banking giant issued 9.3 billion yuan worth of RMBS, which is equivalent to $1.3 billion, via its proprietary blockchain asset securitization platform called “ Jucai Chain”. According to the official announcement that details the issuance, China International Capital Corporation was the lead underwriter and book runner for the offering. Other co-underwriters included the Industrial and Commercial Bank of China and China Merchants Bank. A residential mortgage-backed...
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