Asia Blockchain Updates 2019.11.13

China will Issue CBDC in 3 Months, Alibaba is testing Enterprise Blockchain platform for SMEs, Bithumb Unveiled its Main-net and Bithumb Coin (BT)

by Amy Kang

HCM Capital, Jack Lee: “China will Launch its CBDC in 2 or 3 months.”

Jack Lee of HCM Capital, who is in charge of investing in the blockchain sector of Taiwan’s Foxconn Group, attended the Singapore Fintech Festival and shared his insights about CBDC of China: “China has completed all the systems and network preparations for issuing cryptocurrencies. We expect to be able to launch cryptocurrencies in two or three months.”

HCM Capital is a private equity fund based in Beijing, China, investing in blockchain, artificial intelligence (AI) and the Internet of Things (IoT). Recently, with the support of Foxconn, the company is discussing plans to invest up to 100 million dollars in Softbank Vision Fund Japan.

Lee said, “China has already succeeded in developing the Digital Currency Electronic Payment (DCEP) system. they will be able to issue digital currencies to our payment network as soon as possible.”

He also added, “The launch of virtual currency is just for a pilot project and not a complete replacement of physical currency.”

Bithumb Global Unveiled Bithumb Coin, BT

Global Cryptocurrency Exchange Bithumb Global has unveiled its first token, Bithumb Coin (BT) based on Bithumb Chain.

According to its official announcement, BT is a token based on the Bithumb chain, their first public chain, has been created to enhance the Bithumb Ecosystem, Bithumb Family.

Bithumb Family Includes; ▲ Exchange (Bithum Bithumb Global Bithumb Singapore) ▲ Bithumb Chain, Bithumb Wallet ▲Custody, Vaultrust, and Invault ▲ STO Code Box.

Bithumb Global introduced BT as a symbol of the Bithumb family ecosystem and also as a core value

“Bithumb Chain is able to link each exchange account in the Bithumb family. Issuing and distributing Bithumb Coin as a value index will contribute to the Bithumb family ecosystem.”

BT is a rewarding token for users in Bithumb chains. Accordingly, it will not be listed or traded in any exchanges.

Ant Financial by Alibaba is Testing the Enterprise Blockchain Platform

According to the Cointelegraph, Alibaba’s financial technology subsidiary, Ant Financial, is currently testing the enterprise blockchain platform.

Jieli Li, senior director of technology and business innovation at Ant Financial called the platform as “Ant Blockchain Open Alliance”, will be launched within three months after the testing period. The platform aims to support SMEs by helping them save resources and expand their market.

But according to the interview with Jieli Li, it is known that Not all companies can run a node of this blockchain platform.

Li also said the platform is “open” to everyone, but that doesn’t mean every company can run a node on the network.

“In choosing a node operator we need to be cautious … because Node Operators not only need to run a consensus accounting node to build a reliable value network but also need to provide authoritative endorsements as well.”

Li also mentioned that educational institutions and certification entities are more desirable as node operators because they can increase the reliability of the blockchain.



Product designer, turning conceptual ideas into reality with logic and feelings for us, Based in the UK

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store