Huawei Signs Cooperation Agreement with China’s Central Bank

Multinational telecommunications and consumer electronics giant Huawei has signed a strategic cooperation agreement with China’s central bank, the People’s Bank of China (PBoC).

On November 4, according to a statement from Huawei’s WeChat channel, PBoC deputy governor Fan Yifei attended the signing of a fintech research cooperation agreement between Huawei and PBoC’s Digital Currency Research Institute at Huawei’s headquarters in Shenzhen.

Huawei has been actively developing its blockchain capabilities over the past few years. In April 2018, the firm launched its Hyperledger-based blockchain-as-a-service platform — Blockchain Service — one month after the release of Huawei and Hyperledger’s joint project Caliper. (Positive)

China Introduces Blockchain-Based Identification System for Cities

On Nov. 4, Chinese daily tabloid newspaper Global Times reported that the newly developed identification system was jointly launched by three institutes in the city of Shijiazhuang.

The blockchain-based identification system will assign a unique, global digital ID to Chinese smart cities, aiming to improve the connectivity and data sharing between these cities. Smart cities across China have been able to apply for their own city identification code since Sunday.

Zhang Chao, director of the Zhongguancun Industry and Information Research Institute of Two-dimensional Code Technology, said that the system was developed by China, adding:

“The system will be independently distributed and managed by China, with a unified distribution rule, a resolution of distributed storage and tamper-resistant code.”

China has been focused on smart city development for several years, as new and more complicated challenges arise from an increasingly urbanized population. 

Smart cities employ and integrate a variety of technologies to make municipal operations more efficient, including self-driving cars, renewable energy, energy-efficient buildings and communications systems. (Positive)

US Federal Reserve Hiring New Manager to Research Digital Currencies

On Nov. 3, the U.S central bank posted a new job opening to its website, looking for a new manager who is expected to contribute to the research of digital currencies, stablecoins and distributed ledger technologies. 

Besides the principal duties and responsibilities, the position also requires the manager to promote and contribute to the development and implementation of new policies, regulations and research in relation to retail payment systems. 

The new hire will be part of the Retail Payments section, which oversees the Federal Reserve Banks’ check and automated clearinghouse services, facilitates research in retail payments innovation, and addresses policy and regulatory issues concerning retail payment systems.

The listed maximum salary grade is federal grade 29, meaning that the Fed is willing to pay up to $250,700 per year.

A month ago, two members of the U.S. House of Representatives Financial Services Committee asked the Federal Reserve whether there are any plans to launch a U.S. dollar digital currency, expressing their concerns that the importance of the U.S. dollar could be in jeopardy “from wide adoption of digital fiat currencies.”

The fact that the central bank has now expanded the role of its Retail Payments manager to include digital currencies, stablecoins and distributed ledger technologies, could be an indication that the Federal Reserve is at least researching the possibility. (Neutral)

Posjetite našu Mjenjačnicu kriptovaluta

  • brza i izravna konverzija kriptovaluta za fiat valute i obrnuto
  • jednostavna i kvalitetna usluga prema standardima FIMA brenda
  • povjerenje temeljeno na dugogodišnjem iskustvu i rezultatima