Posts Tagged ‘China’

Tea Tokenizers Arrested in China for Alleged $47 Million Crypto Fraud

Police in Shenzhen, China, arrested six individuals who allegedly defrauded 3,000 Chinese investors out of $47 million by selling a cryptocurrency they claimed was backed by a commodity. The six suspects formed a firm based in Shenzhen called PEB, which beginning in January 2017 issued a blockchain-powered token dubbed Pu’er Coin. According to the police investigation, though […]

OMA Among Winners of Competition for Unicorn Island Masterplan in China

OMA has been announced as one of four firms to win an international competition for the design of Unicorn Island in Chengdu, an “innovative masterplan specifically designed for New Economy companies.” As China moves from a production-orientated economy to a knowledge and service-based economy, the masterplan seeks to provide a variety of working and living […]

Researchers to Create ‘Moody’s for Blockchain’ Global Rankings

A state-owned scientific institution overseen by China‘s Ministry of Industry and Information Technology (MIIT) has announced that it will produce monthly assessments of blockchain projects. The initiative will see the development of an independent rating system — much like a Moody’s or Standard & Poor — for the blockchain space. Dubbed the Global Public Chain Assessment […]

China rapidly embracing fintech while Korea trails behind

Korea’s fintech adoption rate is less than half of China, according to a fintech trend report released by the Financial Supervisory Service. The financial watchdog cited the “EY FinTech Adoption Index 2017” report from global consulting firm Ernst & Young to compare the fintech adoption rate among 20 major markets across the world. According to EY, […]

Study of 151 Chinese unicorns shows Beijing #1 city for startups

Most Chinese unicorns are located in large Tier 1 cities. Beijing is the outstanding leader with 66 unicorn companies, followed by Shanghai (with “only” 38 of them).  The most common industry in which Chinese unicorn companies operate is Internet services, followed by e-commerce and online finance. A significant amount of unicorns are young companies: 35% of them […]

The future of money (research report)

According to a new report from J. Walter Thompson called The Future of Money: New Payments, Currency, Banking, and beyond, China is increasingly driving innovation in money and payments. Chinese consumers are twice as likely to know about blockchain as US consumers, and twice as likely to have tried a number of other disruptive new payment systems, from microinvesting […]

Start-up Genome report anoints China as start-up capital

According to Start-up Genome report 2018, China has surpassed the United States as a source of patent applications, and is rapidly catching up on the number of companies it has produced with a “unicorn” valuation above $US1 billion. The report found China had become the biggest driver of the global start-up revolution, which saw global venture […]

Amirsan Roberto on China’s ICO Ban and Why You Should Ignore It

According to Amirsan Roberto, a serial entrepreneur and ICO advisor who has lived in China and embedded himself in its startup ecosystem for the past five years, the harshness of the ICO ban has not turned away investors. Individuals with an appetite for crypto assets have been using neighboring Macau, Hong Kong and Singapore to […]

Alibaba’s Taobao Bars Crypto and ICOs in Policy Update

Taobao, the internet shopping site owned by e-commerce giant Alibaba, has updated its list of prohibited goods and services to include cryptocurrency-related products. The site has now formally banned individual stores on its platform from providing services related to ICOs, such as technological development, marketing, and business proposal writing, among others. Read more

Chinese Blockchain Industrial Park Opens With $1.6 Bln Partially Govn’t-Backed Fund

A 10 bln yuan (around $1.6 bln) Blockchain innovation fund was announced on April 9, during the opening of the Hangzhou Blockchain Industrial Park in China. The Xiongan Global Blockchain Innovation Fund is financed by the Yuhang District Government. Read more