Core view
China dynamics: (1) the first case of “blockchain evidence verification” in Inner Mongolia was heard. On February 28, the people’s Court of Saihan District of Hohhot held an online hearing on a dispute over a financial loan contract and pronounced a judgment in court. This is the first case tried by the Inner Mongolia court using “blockchain evidence verification”. (2) BHP Billiton and China Baowu completed the cross-border settlement of the first single iron ore through the blockchain. BHP Billiton and China Baowu completed the settlement of cross-border iron ore pilot transactions worth about US $11 million on the effitrade blockchain platform. Effitrade blockchain platform is a blockchain technology cross-border trade service platform owned by China Baowu. (3) Blockchain helps Chengdu Dujiangyan “old age allowance certification”. Relying on the community intelligent health care service platform built by Tianfu citizen cloud, Dujiangyan Nanqiao community has realized the efficient disposal of the “community elderly allowance” by using blockchain technology and face recognition technology.
Dynamics of the “two sessions”: (1) Sun Jie, member of the National Committee of the Chinese people’s Political Consultative Conference (CPPCC): it is suggested to use blockchain technology to promote the co governance and sharing of social security for workers in new forms of employment; (2) Zhang Jinying, member of the CPPCC National Committee: it is suggested to establish a unified legal service blockchain platform; (3) Tan Jianfeng, member of the National Committee of the Chinese people’s Political Consultative Conference: strengthen the supervision of the meta universe market and prevent the risks of the new digital economy; (4) Guo Xinming, President of Nanjing Branch of the people’s Bank of China: we should improve the legal basis of digital RMB.
Overseas dynamics: US Treasury: cryptocurrency trading platform must be registered with FinCEN. On March 8, the US Treasury Department announced that all us cryptocurrency trading platforms must register with the agency’s financial crime enforcement network (FinCEN).
Risk tips
The implementation process of digital RMB and CBDC in various countries is less than expected; Regulatory uncertainty of blockchain application; Blockchain infrastructure construction was not as expected.
