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China Launches National Blockchain Center to Develop TalentHaving initially been announced in February, China’s National Blockchain Technology Innovation Center was formally launched on Wednesday. The center is based in China’s capital city of Beijing, and plans to collaborate with existing crypto and blockchain businesses, think tanks that concern themselves with blockchain and digital assets, and local universities in an effort to further advance blockchain technology within China’s borders.Photo by Hanson Lu on UnsplashEnterprise blockchain developmentEncompassed within the National Blockchain Technology Innovation Center lies the Beijing Academy of Blockchain and Edge Computing. The academy’s leading achievement to date has been its development of the ChainMaker blockchain. The state-sponsored blockchain incorporates clusters of high performance servers of 1,000 units or more, and it claims to achieve a throughput of 240 million transactions per second.The blockchain is being geared towards enterprise use, and the sharing of information between businesses. The ChainMaker project team has also developed an immutable storage mechanism called “Hong”. It’s understood that the team plans to open-source that technology in due course. The storage system is being used by around 80 government departments in Beijing to collect and store data.ChainMaker is collaborating with fifty corporations, with most of them being state-owned entities.Linking up separate networksIn these efforts to advance China’s blockchain sector, the Center is being backed by China’s Ministry of Science and Technology. One of its key objectives is to ensure that the research center enables a comprehensive, nation-wide network to link together disparate blockchain systems, including those already built, within China. Furthermore, the Chinese authorities want the Center to support existing industries, serving them by bringing blockchain technology to their operations, and in that way advancing businesses with that added competitive edge.Zheng Zhiming, a leading academic at the Chinese Academy of Sciences said that existing blockchain projects are isolated from each other. Zhiming believes that this is holding them back, impeding their growth. This latest approach through the National Blockchain Technology Center is geared to address that shortcoming.It’s interesting to note that while the Chinese authorities have taken a very hard line in relation to cryptocurrencies, they are very much trying to advance their blockchain sector. Likewise, they are pulling out the stops for China’s central bank digital currency (CBDC) project, the digital yuan or e-CNY.It emerged last week that the Bank of China has partnered with French international banking group BNP Paribas, in an effort to promote further use of the digital yuan among the bank’s corporate clients.A dual strategyMeanwhile in China’s autonomous territory of Hong Kong, the city has been given an implicit mandate from the Chinese central government to open its doors to cryptocurrency-related businesses. Cleverly, the Chinese are covering both eventualities. While they don’t want citizens within mainland China to have access to decentralized cryptocurrencies and dApps, they still don’t want to miss out on any upside that the technology and its innovation may bring.On that basis, Hong Kong has been given the space and freedom to compete for crypto business on a global basis, competing in that respect with other emerging centers such as Singapore and Dubai.

Intella X Joins Hands with Chainlink Labs to Enhance SecuritySouth Korean gaming company Neowiz announced Wednesday that its blockchain gaming platform, Intella X, has forged a partnership with Chainlink Labs, the founder of the Chainlink blockchain oracle network, to further solidify its position as a secure and transparent blockchain gaming platform.Chainlink’s decentralized oracle network connects data both within and outside of the blockchain — also referred to as on-chain and off-chain — which enables developers to build Web3 applications with access to real-world data and off-chain computation across any blockchain.Photo by Shubham Dhage on UnsplashEnhancing security and transparencyThe joint collaboration aims to apply Chainlink Labs’ on-chain and off-chain data connection technology to Intella X. By doing so, they plan to enhance the security of Intella X’s various services, including blockchain games and non-fungible tokens (NFTs).To ensure transparency within its blockchain gaming platform, Intella X will utilize Chainlink Labs’ verifiable random function technology to generate random values during game operations without compromising security or usability, supporting fair gameplay for all users.Scaling the platformAdditionally, they are considering technical collaborations to increase the platform’s scalability by using Chainlink Labs’ Cross-Chain Interoperability Protocol, which enables connectivity between different blockchain networks through a single interface.Operating on the Polygon blockchain platform, Intella X offers various in-house platform services, such as its decentralized exchange (DEX) and its NFT launchpad and marketplace. The platform has also soft-launched the Android and web versions of its IntellaX Wallet — a Web3 wallet for Web2 and Web3 gamers — and is ready to expand its ecosystem.

NEOPIN and SBINFT Join Forces to Expand DeFi and NFT EcosystemsNEOPIN, the global CeDeFi platform of South Korean investment holding company Neowiz Holdings, announced today its strategic partnership with SBINFT, the NFT marketplace developer and Web3 subsidiary of Japanese online financial conglomerate SBI Holdings.Photo by Markus Winkler on PexelsExtending their global reachThrough this partnership, the two companies will combine their individual expertise to enhance the global reach of each other’s ecosystems. Their strategy involves facilitating the introduction of established NFT projects from regions such as South Korea, the Middle East, and Southeast Asia into the Japanese market. Additionally, they will collaborate to offer both financial and technical assistance to promising Japanese Web3 initiatives, enabling them to expand internationally.Web3 projects and utility NFTsTo achieve this objective, NEOPIN will onboard a diverse range of Web3 projects to its ecosystem, thereby broadening their adoption and appealing to a worldwide user base. Meanwhile, SBINFT will proactively seek to bring utility NFTs into its NFT marketplace.NEOPIN’s partnership with SBINFT is a strategic step in its plan to enter the Japanese market. Just recently, the South Korean enterprise revealed its proactive approach to intensify endeavors to attract a Japanese customer base.Kim Yong-ki, NEOPIN’s CEO, mentioned that the collaboration with SBINFT represents one of their initial endeavors to penetrate the Japanese market. Kim further stated that NEOPIN is dedicated to achieving favorable outcomes not only within Japan but also across the East Asian region.Ko Jang-deok, CEO of SBINFT, echoed this sentiment, expressing that NEOPIN possesses a robust strategy tailored for the Japanese market. He mentioned that the partnership with such a company will help SBINFT introduce international content to the Japanese market. Ko highlighted SBINFT’s commitment to extending its presence in the East Asian market.