Blockchain helps the other kind of mining. Mining firm Vale and its partners completed its first iron sale over blockchain. According to a statement on its website, Vale sold 176,000 tons of iron ore to Nanjing Iron & Steel, sending the material from Malaysia to China. Vale and its partners used the blockchain platform Contour […]
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A major Chinese steelmaker settled a blockchain-based $16.87 million iron ore trade with the world’s second-largest mining group, Rio Tinto and Hancock Prospecting Pty. Ltd. In its first-ever, the Chinese steelmaker Nanjing Iron and Steel Company said it has completed an iron ore trade on the blockchain. The steel company obtained a $16.87 million shipment […]
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Nanjing, China is basically using the blockchain to drive a local economic stimulus program. In order to reduce the COVID-19 pandemic’s impact on business, Chinese governments at all levels have been coming up with different policies and solutions to help the economy survive. Nanjing, the capital of China eastern Jiangsu province, is one of the […]
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Following President Xi’s statement, China is now actively pursuing blockchain development through regulation, promotion and application. After President Xi Jinping called to speed up the development of blockchain technology in the country on Oct. 24, blockchain-related news from China just keeps on coming as the country is seemingly eager to beat the United States (or […]
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The concept of CBDCs has been steadily drawing the attention of jurisdictions worldwide. This month alone, at least three separate countries have reported on their prospective central bank-issued digital currencies (CBDCs): The Republic of the Marshall Islands (RMI) announced the creation of a specially dedicated nonprofit organization to support its digital currency that is already […]
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Chinese e-commerce giant JD.com has partnered with two technology institutes to launch a blockchain research lab to examine new applications of the technology. Chinese retail giant JD.com is further gaining a foothold in blockchain technology by launching a research lab for blockchain in partnership with two technology institutes, according to an announcement published Oct. 30. […]
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Japan’s central bank doesn’t want a CBDC. What about others? On October 20, The Bank of Japan’s (BOJ) deputy governor, Masayoshi Amamiya, repeated his negative stance towards central bank-issued digital currencies (CBDC), claiming that such digital currencies are unlikely to improve the existing monetary systems. The concept of CBDC, or national cryptocurrencies, has attracted many […]
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A division of Chinese e-commerce giant JD.com has opened a center for developing “smart cities” with blockchain technology and AI. A division of Chinese e-commerce giant JD.com, JD Finance, has established the Smart City Research Institute at its headquarters in Nanjing, reported People’s Daily September 28. Jingdong Group (JD.com) is a Chinese e-commerce company that […]
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The Nanjing Arbitration Committee in China’s eastern Jiangsu province is testing a new blockchain platform designed to store and process data for legal disputes. The Nanjing Arbitration Committee is testing a new blockchain platform designed to store and process data for legal disputes. The organization officially announced this September 27. China’s regional arbitration committees were […]
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