Chinese Shopping Giant Bans Crypto Related Goods

Taobao released the changes which are concerned with the increased control of crypto and ICO-related products
11 April 2018   1315

Taobao is a Chinese online shopping website, headquartered in China, and is a subsidiary of Alibaba Group. It facilitates consumer-to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions.

On April 10, 2018 Taobao has announced the new policy regarding the goods banned on the platform. The changes are concerned with the increased control of crypto and ICO-related products.

Taobao ban for product management specifications focuses on the goods related to blockchain technology, virtual currency and other digital products and services. It is stated that digital currency and similar digital products can easily be used for speculation and illegal fund-raising and can lead to a financing risk. 

The ban concerns Bitcoin, Litecoin, Biocoin, Quark, Unlimited, Cocoa, Penny, PPCoin, NameCoin and other digital currencies; products with the same technical properties and generating mechanisms as digital currency, such as digital pets generated based on blockchain technology; digital currency tutorials, strategies and software, such as mining hardware; ICO and derivative services which provide digital currency, such as technology development, business planning, brokerage, marketing, and other.

The new rules come into effect on April 17, 2018.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   111

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.