#CryptoCorner Episode 422: China’s Uber-like DiDi Partners with PBoC for CBDC Trial, Cosco Shipping (OTC: $CICOF) Working with Alibaba (NYSE: $BABA) on Sea Shipping #Blockchain Implementation and Japan Appoints New FSA Commissioner
Point Roberts, WA, Delta BC July 8, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
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Read this in full at https://www.investorideas.com/news/2020/crypto-corner/07081DiDi-CICOF-BABA-Japan.asp
Stocks discussed: (OTC:CICOF) (NYSE:BABA)
Chinese ride-hailing giant DiDi has entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC) to develop and implement a trial for that country’s planned central bank digital currency (CBDC). A spokesperson for the Uber-esque firm told CoinDesk:
“Under PBoC’s overall DCEP strategy and operation timeline, DiDi’s DCEP [Digital Currency Electronic Payment] taskforce will design and implement pilot DCEP projects in accordance with rigorous safety, security and governance standards.”
“The partnership is a key milestone in DiDi’s ongoing initiatives to enhance the interconnectivity of online and offline economic sectors in China, as the government seeks to support the development of the real economy sectors with innovative financial services.”
The Wall Street Journal reports that Cosco Shipping Holdings Co., Ltd. will be working with (OTC:CICOF) Alibaba Group Holding Limited (NYSE:BABA), and specifically the latter’s fintech subsidiary Ant Financial Group on the use of blockchain “to track goods across seaborne supply chains.” According to the article, the use of blockchain aims to “reduce the cost of administering shipped goods, cut down on paperwork and speed the flow of goods by letting companies transmit information quickly and reliably.” Eric Jing, executive chairman of Ant Financial Group, commented:
“We look forward to supporting the digital transformation of the global shipping industry, and working with Cosco Shipping to make it easier and more efficient to trade globally.”
The government of Japan has appointed Ryozo Himino – presently the International Financial Deputy Counselor– as the next commissioner of the country’s Financial Services Agency (FSA), according to local outlet Jiji Press. An article on the subject from Cointelegraph claims that “Himino is considered sympathetic to the crypto industry,” citing his role in inviting Adam Back, CEO of blockchain tech firm Blockstream, to “a seminar last June held along with G20 Fukuoka, Japan.” That same article also quotes Himino’s reaction to Facebook’s Libra project:
“Libra’s alarm bell is now making regulators and central bankers to open their eyes and see squarely the issues they need to face sooner or later. And many other clocks may be waiting to ring next.”
Sam Mowers, Investorideas
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