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The recent hype around Bitcoin continues to bring uncertainty to the financial stability of countries. Whilst some countries are accepting Bitcoin others are rejecting it and the threats that they perceive it holds.
China has long seemingly been opposed to all things crypto, having previously banned ICO’s and virtual currency trading. However, in the latest development of China’s war on crypto, it is now reportedly set to shut the Bitcoin mining industry.
Previously, WeChat has been the world's dominant chat & payment app with over 1 billion WeChat users worldwide, spread over 15 countries; 200 million of which use the app's payment function. Could WhatsApp's December 2017 release of a payment enabled WhatsApp app in India find similar success?
On December 11th, 2017, China Union Pay (CUP), together with over 30 commercial banks and payment institutions, launched a new version of its mobile payment APP, QuickPass (云闪付), starting a new battle in the mobile payment industry.
China Telecom and China Mobile, two of China's leading telecommunication companies, were approached by the Chinese government under a proposition to enter the Philippines telecommunications market.
With the craze surrounding Bitcoin, many are concerned that the crypotcurrency’s price is over valued and a result of too much hype. However, Blockchain, the technology behind Bitcoin, is captivating the attention of many and is widely regarded as the future of technology. So much so in fact, many countries have already launched or begun looking into the possibility of creating their own Blockchain based, state sponsored cryptocurrencies.