“The Bank of China tests an offline payment system linked to SIM cards for the digital yuan, marking China’s push towards a cashless society with their central bank digital currency (CBDC). This signals the potential future of centralized digital currencies.”
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China’s National Blockchain Centre: Bridging Gaps & Navigating Centralization Risks
The National Blockchain Technology Innovation Centre in Beijing has officially commenced operations, aiming to advance blockchain implementation in China through collaboration with universities, think tanks, and businesses. The Centre intends to train 500,000 specialists in distributed ledger technology and accelerate the construction of ultra-large-scale blockchain computing power clusters for industry innovation and competitiveness.
Shaping the Future of Cryptocurrency: From Binance’s ZhangHeng to Play-to-Earn Trends
“The Binance-operated BNB Beacon Chain mainnet is set to introduce the “ZhangHeng” upgrade and BEP-255, a new mechanism for enhancing security via on-chain asset reconciliation. Meanwhile, Europe’s first Bitcoin ETF by Jacobi Asset Management is anticipated to launch, marking a significant step in regulatory acceptance.”
Digital Yuan Transforming Public Transport: Pros, Cons, and Future Challenges
The Chinese city of Qingdao is piloting a digital yuan payment solution for public transport using NFC technology, enabling payments via mobile devices even without power or network coverage. Meanwhile, Ningbo plans to distribute $140,000 worth of CBDC discount tokens in digital envelopes. These developments mark significant progress in central bank digital currency adoption.