It’s no secret that China’s e-commerce scene is huge and growing, with players like Baidu, Alibaba and Tencent. By extension, China’s stellar status in the e-commerce landscape also translates into a strong performance in the #mobile #payments space. #China’s #growth in e-commerce has, indeed, been impressive. A new report by McKinsey & Company, released earlier […]
Bank Innovation
The People’s #Bank of China (PBOC) will require #payment platforms to allocate as much as 50% of their total client funds in a regulated interest-free reserve. Additionally, the PBOC also said it would regulate QR code payment to reduce growing concerns about risks related to these types of transactions. The new regulations will have an […]
Bank Innovation
The price of #bitcoin is down following a report that China may ban all #cryptocurrency exchanges within its borders. On Friday, Chinese financial news outlet Caixin reported that the Chinese government is considering banning all exchanges between bitcoin, ether, and other #cryptocurrencies, and the Chinese yuan. Immediately following this report, the price of bitcoin dropped […]
Bank Innovation
EXCLUSIVE – China just jumped on the bandwagon of governments regulating ICOs… by banning them. The question that experts can’t seem to agree on is: why? Joshua Klayman, an expert in the legal aspects of #blockchain #technology, confirms that new regulations are already changing the global #cryptocurrency ecosystem. Klayman, a founding partner and head of [&8230;]
Bank Innovation
#Walmart and IBM are working together to help bring more transparency to China’s massive #pork industry.
#China’s major #financial institutions believe governance should not be replaced in any larger transitions to #blockchain.
China’s state #social #security system is reportedly looking to integrate #blockchain #technology as part of a bid to cut costs.
CoinDesk
The fast and furious growth of the country’s Internet finance industry will inevitably slow. Companies need to begin positioning themselves for sustainable success.
McKinsey Insights & Publications
#Bitcoin was designed to be decentralized, but as it matures, the currency is moving increasingly toward centralization — in China. This has significant implications for the #cryptocurrency, whose future early developers imagined would lie in the hands of a distributed global network of miners, but now largely lies in the hands ofRead More
Bank Innovation
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