China to Form Blockchain Standards Committee in 2018

This is said at  Guiyang Big Data Expo by Li Yinn, head of IT at Ministry of Industry and Information Technology
28 May 2018   887

The National Committee for the standardization of blockchain in China will be established before the end of this year, CoinDesk reports.

In a keynote speech at the Guiyang Big Data Expo, Li Yin said that the structure of the committee would be similar to that of the TC307, similar to the commission from the International Organization for Standardization (ISO).

Thus, the government expects to complete a comprehensive standardization of the blockchain by the end of 2018.

We have been working closely with the ISO and the International Telecommunication Union (ITU). We should soon have our national technical committee for blockchain standardization ready within this year.
 

Li Ying

Head IT, Ministry of Industry and Information Technology

In February, the official publication of the Communist Party of China called for a tightening of the regulation of the blocking industry in order to foster its further growth.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   423

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva