Tsinghua International Blockchain Association (TIBA) news roundup 26 October
China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan. The draft law states that the yuan is the official currency of the People’s Republic of China whether in physical or digital form. Source: Cointelegraph
Chinese billionaire Jack Ma said that digital currencies could play a role in a new global financial system — and attacked worldwide regulation. “Digital currency could create value and we should think about how to establish a new type of financial system through digital currency,” Ma is reported to have said. Source: Decrypt / South China Morning Post
The head of the People’s Bank of China (PBOC) Digital Currency Research Institute Mu Changchun (穆长春) has revealed details concerning the development of dual offline wallets for the digital renminbi. The wallets make use of near field communications technology to permit the transfer of the digital renminbi between different devices simply by tapping them or placing them in close proximity, without any need for an Internet connection or even a telecommunications signal. Source: China Banking News
Wu Zhongze, China’s former vice-minister for Science and Technology and a well-known digital economics expert, believes that blockchain technology is still quite young. Source: Cointelegraph
A group of scientists and IT engineers are trying to use block-chain technology to help with the development of Xiong’an New Area in the Beijing-Tianjin-Hebei region. They are working to establish an open platform, allowing users to have access to blockchain technology. Source: CGTN
