#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
#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
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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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