After recent hard fork, Ethereum jumped to the second place, reported China’s state-backed tech workgroup I their fifteen blockchain technology assessment report.
The Center or Information and Industry Development (CCID) released a full list of 35 assets on December 6th. In a recent placement, Ethereum remained within the top 3, moving one place higher from third to second, followed by Tron (TRX). Bitcoin’s network (BTC) was left behind on ninth place. Ripple remained out of the top 10, falling back on the 18th place.
ETHEREUM THROWING CAUTION TO THE WIND
Whilst experts believe that Ethereum’s recent boost is attributed to the recent hard fork, Ethereum’s co-founder keeps claiming the network is soon to reach over 3,000 transactions per second once the upgrade is over.
CHINA’S LOVE-HATE RELATIONSHIP WITH BLOCKCHAIN
Whilst first banned everything crypto, China now plans to pilot digital Yuan project with the Central Bank of China. An information source mentioned the first stages of testing will launch before the end of 2019 in Shenzhen and might include the city of Suzhou. Alongside the Central Bank of China, the People’s Bank of China and the China Telecom will become testing digital currency payments.
“Compared with the previous pilot, this time the central bank’s legal digital currency pilot will go out of the central bank system and enter real service scenarios such as transportation, education, and medical treatment, reaching C-end users and generating frequent applications.”
PBOC TO BECOME THE WORLD’S FIRST CENTRAL BANK TO ADOPT CRYPTO
With its digital payments debut, the People’s Bank of China will become the world’s first central bank to issue non-fiat currency. The bank’s digital currency has been under development for a few years and is now in its advanced stages.
PRESIDENT XI JINPING ENDORSED BLOCKCHAIN IN OCTOBER
Back in October 2019, China’s president Xi Jinping endorsed the use of the blockchain technology, pulling the curtains to its endless possibilities. The Asian force is on the road to outrank the United States with its blockchain initiatives. China created a crypto regulatory body to monitors its growing number of decentralized projects.