Bank and Tech Giants Dominate Chinese Blockchain CoalitionAn official from the People’s Bank of China (PBoC) Currency Research Institute has been included as one of five vice presidents of the committee. Members also include at least a dozen representatives from some of the top universities in China. Representatives from telecoms and tech giants in the private sector are more notable as it signals a possible partnership between government and corporate entities in the development of distributed ledger technology. According to CNBC, eCommerce and tech firms like Baidu, Alibaba, JD.com, Tencent, and Huawei, all have representatives on the committee. However, the member list is not conclusive yet as the Ministry has asked the public for feedback until May 12.
Crypto Yuan App Images LeakedAround the same time that the blockchain consortium announcement was made, alleged leaked screenshots from the official digital currency/electronic payment (DC/EP) app were revealed. China has been actively researching its own central bank digital currency for years but recent local reports had suggested this venture had been put on hold due to the COVID-19 outbreak. The DC/EP app screenshots suggest otherwise. Executive Director of M&A for Binance, Ling Zhang, posted the images adding that four cities will be available for trials, including Shenzhen, Chengdu, Suzhou, and Xiongan.
CEO of Sino Global Capital Matthew Graham also leaked images of the app confirming that this version of it circulating was designed for the Agricultural Bank of China. shared screenshots of the app commenting that, in addition to the four banks, China Telecom, China Mobile, and China Unicom will be first telecoms companies selected for trials.
Seems that testing wallet app is available for download. 4 cities will be available for the trial to begin with, including Shenzhen, Chengdu, Suzhou and Xiongan. Interesting that Xiongan, the newly state-level new area is one the first batch of the trails cities. #DC/EP pic.twitter.com/960poROFIo— Ling Zhang (@lingzh1220) April 14, 2020
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