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CDCROP: Qingdao City, Shandong Province, China (Cheunghyo/Getty Images)

Tech

The Next Major Ethereum Upgrade, Shanghai, Now Has a Testnet

The Shandong testnet will allow developers to experiment with the next phases of Ethereum development, including properly implementing staked ether withdrawals.

By Margaux Nijkerk

Oct 17, 2022 at 6:12 p.m. UTC

Oct 17, 2022

EthereumUpgradeDevelopersShanghai

Business

China

Shanghai Plans to Cultivate $52B Metaverse Industry by 2025

Shanghai wants to create more than 100 companies in a plan that focuses on virtual reality and increased connectivity.

By Oliver Knight

Jul 12, 2022 at 1:28 p.m. UTC

Jul 12, 2022

ChinaShanghaiNFTsMetaverseVirtual Reality

Policy

China

Shanghai Police Bust $16M Crypto Pyramid Scheme

It's the city's first cracked case of an online pyramid scheme that used cryptocurrencies, according to authorities.

By Eliza Gkritsi

Mar 15, 2022 at 12:30 p.m. UTC

Mar 15, 2022

ChinaScamsPyramid SchemeShanghaiCrypto

Policy

Cbdcs

Bank of China Reveals Machine That Converts Foreign Currency to Digital Yuan: Report

The machine requires a passport, but not a bank account.

By Eliza Gkritsi

Nov 8, 2021 at 7:46 p.m. UTC

Nov 8, 2021

CBDCsChinaShanghaiDigital Yuan

Business

China

Shanghai to Test Offshore Yuan Stablecoin on the Conflux Blockchain

China is using restricted-access blockchains in many industries, but the government use of a decentralized chain is rare.

By Eliza Gkritsi

Sep 17, 2021 at 8:26 a.m. UTC

Sep 17, 2021

ChinaConfluxBlockchainShanghaiTrade Finance

Conflux Cofounder Ming Wu and Fan Long image via Conflux

Markets

China

Shanghai-Backed Conflux Blockchain Wants to Bring DeFi to China

The company told CoinDesk that even though ICOs and fiat-to-crypto trading are not allowed in China, crypto-to-crypto trading is not banned.

By Muyao Shen

Mar 24, 2021 at 1:00 p.m. UTC

Mar 24, 2021

ChinaBlockchainShanghaiOKExDeFi

Business

China

Shanghai Government Invests $5M in Blockchain Startup Conflux

The Shanghai government has invested over $5 million in Conflux while putting the project on a list of 57 companies that focus on emerging technologies.

By David Pan

Jan 12, 2021 at 5:00 a.m. UTC

Jan 12, 2021

ChinaBlockchainShanghaiPublic BlockchainsConflux

Markets

China

Hong Kong Blockchain VC Hires Former NEO Exec to Launch Shanghai Office

Former NEO general manager Zhao Chen joins Hong Kong-based venture capital firm CMCC Global to lead blockchain equity investments in mainland China at a new Shanghai office.

By David Pan

Dec 17, 2019 at 8:38 p.m. UTC

Dec 17, 2019

ChinaVenture CapitalHong KongBlockchainShanghai

Business

China

Blockchain Startup Conflux to Get Shanghai Government Funding for Research Institute

Shanghai will open a blockchain research center by the end of December with substantial investment, even as China’s government continues to crack down on crypto-related businesses.

By David Pan

Dec 17, 2019 at 9:00 a.m. UTC

Dec 17, 2019

ChinaResearchBlockchainShanghaiConflux