Blockchain
Conflux Network event in Shanghai examines blockchain use in international trade and exchange
China continues to explore the potential benefits of blockchain technology despite its well-known dislike of speculative digital asset trading. This week, representatives from the Conflux Network project announced they had participated in a demonstration meeting for a “super-large-scale blockchain basic platform for the Belt and Road” in Shanghai.
Other attendees at the event on March 30 included representatives from the China Academy of Information and Communications Technology, Shanghai Jiao Tong University, Fudan University, and Shanghai Maritime University. According to Conflux Network’s
announcement, others from China’s Industrial Development Promotion Center of the Ministry of Industry and Information Technology and the Shanghai Science and Technology Commission were also present.
Launched in November 2020, Conflux Network describes itself as a “PoW/PoS hybrid blockchain without barriers.” Like BSV blockchain, it claims “unmatched scalability,” security, low fees, a focus on openness but with regulatory compliance, and parallel transaction processing using “tree graphs” to lower confirmation times. Its native asset is the $CFX token.
Conflux also said the event was based on a discussion of requirements related to China’s international “Belt and Road” initiative, a government program to streamline physical and electronic trade routes. The aim was to develop a blockchain platform and demonstration applications that fulfilled these needs, supporting “multi-country deployment and multi-subject collaborative supervision” and “cross-border cooperation in the economic, trade and cultural fields.” (Any open-blockchain network would support these functions.)
Some technology press outlets claimed the event was further proof the Chinese government remains interested in blockchain technology despite its speculative asset and mining bans over the years (which it is). However, this event should not be seen as an official government endorsement of any one blockchain over others. Its use of the term “Belt and Road” in the event’s title is simply stating its focus and should not be taken as a claim to be an official component of the B&R initiative.
Yes, China is still looking at blockchain
To be fair, Chinese authorities have never dismissed blockchain technology, despite years of the “China bans BTC” media trope. Their main objection was always to the wild market speculation (and associated scams) that came with digital assets. With increasing amounts of new wealth in the population forming a relatively naive retail investment market, China had valid concerns that millions could lose their life savings trading digital trinkets—and there had already been examples of this. There were also concerns that block reward mining operations were exploiting energy subsidies in some regions to enrich themselves.
China has maintained an interest in blockchain technology development despite its restrictions on ICOs and other speculative digital assets. The country has hosted several conferences over the years aimed at exploring what other benefits blockchain could provide.
The People’s Bank of China (PBoC) has conducted its own research into using digital currencies since 2014—the same year the first “China bans Bitcoin” rumors arose—and for several years hinted it was developing a CBDC (central bank digital currency) of its own at some point.
That currency, officially named “digital renminbi (RMB)” and also commonly called the “digital yuan” and “e-CNY” became the first CBDC-like asset to undergo public use trials in 2020. E-commerce and IT firms Alibaba (NASDAQ: BABA) and Tencent (NASDAQ: TCTZF) joined in, as did Huawei, JD.com, and credit card company UnionPay, as well as big-brand merchants.
Even though the digital RMB gets frequent press in blockchain industry media, it does not run on a blockchain base. The PBoC has also said the currency is intended to make local cash transactions easier in daily life, but it isn’t intended to replace bank account savings. The central bank has also said the digital RMB shouldn’t be used internationally and (in answer to other rumors) isn’t meant to replace globally-used currencies like the U.S. dollar.
Source: coingeek.com
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Blockchain
WadzPay Plans to Expand Portfolio into Stablecoin Business
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
Blockchain
RevoluGROUP Announces CEO and Director Stepping Down
Blockchain
ZettaBlock announces the addition of blockchain data
ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
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