Chinese Bank Issues Securities Worth $66 Million on a Blockchain

Zheshang Bank, one of the largest privately held commercial banks in China, has completed an issuance of securities worth $66 million using its proprietary blockchain platform. Based on public documents, the bank filed a prospectus with the Shanghai Clearing House on Aug. 13 saying it would back the securities with a portfolio of account receivables from various corporations. … http://bit.ly/2nTZcit

Crypto Escapes Scrutiny at Annual China Investor Event

Cryptocurrencies were not brought up for criticism at an annual Chinese consumer protection event, despite rumors to the effect. Multiple sources had shared rumors with CoinDesk in early March that major policy changes would be announced on Mar. 15 night during a national TV program to curb cryptocurrency activities in China, such as trading and disguised initial coin … http://bit.ly/2GsV6ZR

China’s IT Ministry Backs New Blockchain Research Lab

Regardless of its recent crackdown on bitcoin exchanges and initial coin offerings (ICOs), China’s government still appears committed to the potential of blockchain in other areas. According to a report by Caixin, the China Academy of Information and Communications Technology (CAICT) – a research institution under the Ministry of Industry and Information Technology – has … http://bit.ly/2ts19IJ

Tencent Taps Intel’s Hardware for IoT Blockchain Solution

Chinese internet conglomerate Tencent announced a blockchain research partnership with multinational tech corporation Intel at a conference yesterday. The deal, which will see a new R&D lab established in Wuxi, Jiangsu Province, aims to fuse Intel Core technology with the Tencent User Security Infrastructure (TUSI) standard to develop a secure blockchain system for the … http://bit.ly/2oAWqP1