Web3 adoption, around the world, seems to be heating up with plenty happening around crypto rules and CBDC introductions in existing economies. Aiming to foster the growth of Web3 in Asia, the Near Foundation has entered a partnership with China’s Alibaba Group. Essentially, the Near Foundation is looking to use…
Chinese internet giant Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly…
Chinese billionaire Jack Ma will cede control of fintech giant Ant Group as part of a restructure, the company announced Saturday. “No shareholder, alone or jointly with other parties, will have control over Ant Group (after the completion of the adjustment), the company said in a statement. “The adjustment is…
A hacker claims to have obtained the personal information of 48.5 million users of a COVID health mobile app run by the city of Shanghai, the second claim of a breach of the Chinese financial hub’s data in just over a month. The hacker with the username “XJP” posted an…
China’s top internet watchdog said on Friday that tech giants such as Tencent and Alibaba have submitted details of algorithms used in some of their products, complying with a drive by authorities to tighten oversight of platform algorithms. The rules are part of a broad regulatory crackdown by Beijing against…
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