News Snapshot:
The People’s Bank of China has published rules regulating the application of Blockchains in the financial industry. The document applies to banks, security companies and insurance firms. According to these regulations, financial structures should independently evaluate the Blockchain technology in use and ensure its safety. Blockchain technology has quickly gained popularity in China, and the country has become the world leader in the application of the technology. Not only did China at one point account for more than 80% of the world’s Bitcoin hash rate (and even now, Chinese mining accounts for more than 50%) – the first application of...
