This weekly roundup of news from Mainland China, Taiwan and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency-related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set …
Blockchain firm QuarkChain has announced a partnership with the ecological department of Northeastern Chinese province Shanxi. QuarkChain and the Shanxi province will jointly develop an environmental governance platform on blockchain (EGPB). This platform will be used by the local administration for construction resource management and trading. QuarkChain stated that, while limited construction materials are mostly located in a specific area, they are widely distributed to many places, creating the need for a management system that can better supervise the development and use of those resources. EGPB will be used for tracking resources along their supply chain. The network’s node operators …
The Chinese province of Yunnan announced the official launch of a blockchain-powered traceability platform for its Pu’er tea farms on June 3. The blockchain platform was first announced in the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan. They will use the platform to conduct quality control, sales, and loan financing operations on 42,000 hectares of farmland across the province. According to Chinanews, the province is famous for its dark, fermented variety of tea. It’s the major Chinese agricultural products exporter, and hit almost $33 million in 2018 according to reports. Implementation of blockchain …
China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases. According to local media, the platform will allow buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital export and import transactions. The companies will promote an in-depth integration of blockchain technology in the port industry. Their goal is to become the world’s first blockchain-based digital port with an open collaboration network. Implementing …
Recently, a blockchain-backed cross border platform pilot was implemented in the Chinese city of Qingdao. The companies involved have now made their first trades with partners in North America and Southern Asia. As reported on April 22 by local newspaper, Sina, the companies are praising the pilot program, and claim that the city’s banks will continue to improve the service. Trades made with other countries via blockchain About 37 Qingdao businesses have done business with foreign enterprises through the blockchain platform, located in the United States, Mexico, India, and a number of other countries. Sina reported that the pilot platform …