BIS Wants ‘Level Playing Field’ for Banks Amid Threat from Facebook
The Bank for International Settlements has expressed concerns over the expected disruption as big tech firms like Facebook enter the financial space.
Tencent received the green light from the Hong Kong Securities and Futures Commission to build a blockchain-based virtual bank.
The internet giant, which has been working on blockchain-based invoices for some time, will lead the development of new standards.
WeBank has become the first technical infrastructure provider for China’s blockchain network.
Chinese internet giant and parent of WeChat, Tencent said Libra would pose serious risks to current digital payment systems in the country.
Blockchain provenance startup Everledger has raised $20 million in a Series A round led by internet giant Tencent.