China’s Zhejiang Province Launches Trials For Digital Yuan

The adoption of Central Bank Digital Currencies is poised for a meteoric growth after the Chinese province of Zhejiang unveiled trials for the traditional digital currency. According to a local news outlet, the Zhejiang news, dubbed the e-CNY (acronym of the E-Chinese Yuan), the digital currency is modeled for stamp duty, tax, and social security [...]

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Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration

The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage

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Report: China Will Become a Metaverse Tech Leader During 2023

A report issued by Globaldata, a global consulting and data analysis company, predicts that China will become a leading country in metaverse tech during 2023. The firm believes that the development of other technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and 6G will allow China to configure itself as a metaverse [...]

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BRICS Bank President Dilma Rousseff Calls for the Creation of a Global South Focused Financial System

Dilma Rousseff, president of the New Development Bank — also known as the BRICS bank — and former Brazilian president, has called for establishing a financial architecture designed for the so-called Global South. In a keynote speech at the 14th Lujiazui Forum, Rousseff remarked on the importance of this new structure for promoting sustainable growth.

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French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’

Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a conflict between the U.S. and China, and reduce its reliance on the U.S. [...]

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UK Government Considers Utilizing Seized Bitcoin to Address Budget Deficit

The UK government is contemplating the sale of approximately £5 billion worth of Bitcoin, seized from criminal activities, to mitigate a £22 billion public finance shortfall. The cryptocurrency was confiscated from Jian Wen, who was involved in laundering proceeds from a £7 billion fraud scheme. Initially valued at £1.4 billion, the seized Bitcoin’s worth has … Continue reading UK Government Considers Utilizing Seized Bitcoin to Address Budget Deficit →

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