Share this article
China Unveils Cryptography Research Center to Support Digital Yuan
The institute will be used to develop applications of the technology in an effort to boost security for China's central bank digital currency.
Updated Sep 14, 2021, 1:29 p.m. Published Jul 22, 2021, 3:09 a.m.
China has opened a national institute to research how to use cryptography to secure the digital yuan, state-owned People's Daily reported on Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The research and development center will be located in Jinan, a city in Shandong, a coastal province just east of Beijing.
- The opening ceremony included a speech from a deputy governor of the People's Bank of China, Fan Yifei, as well as a representative from telecommunications equipment maker Huawei.
- A Shandong official, Wang Xiaoyun, presented the province's blockchain-based education platform, as well as enterprise blockchains for government coordination, energy big data and supply chain finance.
- People's Daily said the central bank digital currency will contribute to China's financial and national security, on top of injecting innovation into the digital economy.
- China has been trying to beef up cybersecurity practices domestically since 2017, when it implemented the landmark Cybersecurity Law of the People's Republic of China.
- A 2019 encryption law was controversial because it allowed the government to access commercial encrypted information.
- Trials for the digital yuan have been underway since spring of last year, with a major trial set to take place at the 2022 Beijing Winter Olympics.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Miner capitulation is a contrarian signal, indicates renewed bitcoin momentum, VanEck says
VanEck data shows declining bitcoin mining activity has historically preceded strong returns in bitcoin.
What to know:
- VanEck data shows that in the past 30 days bitcoin’s hashrate dropped by the most since April 2024
- Hashrate declines are historically aligned with miner capitulation and markets closer to local bottoms than tops.
- According to VanEck, periods of negative 90-day hashrate growth have delivered positive 180-day bitcoin returns 77% of the time.
Top Stories
