According to analysts, while Facebook is preparing to unveil its response to bitcoin, China is about to introduce its own digital currency that will allow the government and Central Bank to see what people are spending their money on.

Unlike the libertarian ideals of cryptocurrency, whose anonymity allows users to buy and sell without leaving a digital footprint, China's electronic cash system will be tightly regulated, experts say, and run by the people's Bank of China, the Central Bank.

This "will give the PBOC a deeper understanding of transactions across the country," analysts at Beijing-based research firm Trivium China said.

In late September, Central Bank Gover ... Read more »

Category: News | Views: 114 | Added by: boss | Date: 17.10.2019 | Comments (0)

https://www.layer1.com/

When it comes to bitcoin production, China is the leading power in the world. The people's Republic prides itself on the largest mining companies and dominates the production of chips and other equipment used for bitcoin mining. An American startup wants to change all that with a bold plan to make Texas a global bitcoin mining hub.

On Tuesday, San Francisco-based Layer1 announced It had raised $ 50 million from billionaire Peter Thiel and others to move forward with its plan, which calls for launching its own power plant and acquiring solar and wind power produced in the West Texas plains.

According to co-founder Alex Ligle, the Layer1 facility will ... Read more »

Category: News | Views: 159 | Added by: boss | Date: 17.10.2019 | Comments (0)