Cryptocurrencies in Asia: Singapore & China

Apr 1, 2019 | Asia, BIZ, China, NEWS, Singapore

    South East Asia Desk

Cryptocurrencies are finding a comfortable forever home in Singapore and China

Without a shadow of a doubt, Singapore and China are economic powerhouses – but how are these regions embracing cryptocurrency projects?

China

The Centre for Information and Industry Development or CCID in China have recently released their “thumbs up” for the most promising cryptocurrency projects in the region, and the current ratings reveal that the Chinese are preferring “smart contracts” over the more venerable Bitcoin, which lost its previous rank in CCID’s index.

According to the current rankings, the most preferred cryptocurrency networks are ETH (ethereum), TRX (tron), and EOS. The CCID looked at a total of thirty five different digital assets projects currently operating in China before creating the current rankings based on three criteria. The criteria involve the project’s basic tech, the applicability of the cryptocurrency to current market needs, and creativity.

The most interesting criterion, of course, would be “applicability” of the project in question, which actually translated to the general level of support that the crypto network had in China. Joining the three in China’s top five crypto projects are Nebulas and Ontology. Nebulas is described as “an autonomous metanet, a next generation public blockchain,” while Ontology is a “high-performance public blockchain & a distributed trust collaboration platform.”

Singapore

In Singapore, things are getting hairy and more complicated for crypto exchange companies as the Singapore International Commercial Court or SICC issued its verdict holding crypto exchange company Quoine liable for a computer glitch that allowed crypto liquidity provider B2C2 to exchange 309.2516 ether for 3,092.517116 bitcoin. During the time of the trade, ether traded for $46/1 eth, while bitcoin traded for $1,267/btc.

The story goes that B2C2 executed a trade that pegged 1 ether for 10 bitcoin. B2C2’s trade cost about $14,000, and the amount of bitcoin they got from Quoine amounted to a whopping $3.9 million. Naturally, Quoine detected the glitch and reversed the trade, prompting a very upset B2C2 to file a rather aggressive case against the crypto exchange company, citing Quoine’s own policy that all trades are final and irreversible. SICC’s verdict shocked everyone (except B2C2 perhaps) and Quoine was ordered to pay the liquidity provider damages.

The Tasty Roundup: App Pays You To Eat Vegan, Cell-Based Lobster, Pink Pineapple & More

In this week’s spread of tasty news – pay-a-vegan pays people to eat plant-based meals, cell-based firm Shiok Meats launches lobster meat, pink pineapple now available, white strawberries coming soon, the most underrated foodie destinations in the world, and RecoMentor launches site.

South Korea Floods Leave Cows Stranded on Tin Roofs

Dozens of cows were stranded on rooftops by floods in South Korea, leaving rescue crews facing a problem the size of several bovines.

Beijing Passes Law to Protect Medical Whistleblowers

Beijing’s city government will protect “non-malicious” medical whistleblowers under a new law, passed months after a Chinese doctor was punished for sounding the alarm at the very beginning of the Covid-19 pandemic.

The Incredible Trashless Town of Kamikatsu

Located in the Tokushima Prefecture, Japan, Kamikatsu is a town unlike any other. Here, residents sort their waste perfectly, therefore making it the first-ever Zero Waste Town in Japan. You’ll be surprised to know about the simple way they achieved this.

BonBon: Smuggled Orangutan to be Released Back to the Wild in Bali

A baby orangutan that was drugged by a Russian trafficker in a failed bid to smuggle it out of Bali will be released back into the wild.

Bali Sea Turtles Set Free after Poacher Arrests

Around two dozen green turtles were released back to the wild in Bali on Wednesday after the endangered creatures were rescued from poachers on the Indonesian holiday island.

China’s Social Credit System: It Pays to be Good

China: How Does the Social Credit System Work?

Singapore’s Workaholic Culture: A Cause for Concern

Singapore’s toxic workaholic culture is causing long-term damage to the population.

Top Things to do in Bintan Island, Indonesia

If you love beaches, mountains, and culture, Bintan Island should be on top of your list. This breathtaking destination is filled with so many treasures and surprises that will leave you wanting more.

Weighing the Scale: China’s New Silk Road

China’s Belt and Road initiative plans to economically interconnect nations but at what cost?

Lonely Rhino ‘Kanchi’ Seeks Mate in Bangladesh

A lonely rhinoceros at a Bangladesh zoo is looking for new love after losing her partner seven years ago, but pandemic travel restrictions are hampering her keeper’s attempts to play matchmaker.

S. Korean Nurses’ Bandages Become Badges of Honor

Across their foreheads, cheeks and noses, the nurses on the front line of South Korea’s struggle against the coronavirus outbreak wear bandages that have become badges of honor.

Unpacking Fear: Why Do Japanese Horror Movies Work?

Is Sadakaya the pinnacle of modern Japanese horror? We hope not.

Rohingya Trafficking Network Sells Dreams, Delivers Violence and Extortion

Auto rickshaws slip easily past barbed-wire checkpoints at the world’s biggest refugee camp, their drivers among the smallest players in a complex human trafficking network involving high-seas extortion gangs, corrupt police and drug lords.

Asia: Cute and Trendy Capsule Hotels are here To Stay

Surprising comfortable and high tech, capsule hotels are setting the trend for global travelers looking for a different kind of hotel experience in Asia.

Young, Beautiful and Trying to Make It in Bollywood

It took a minute for Malhaar Rathod, then an aspiring teenage actress, to realize what the 65-year-old Indian film producer was asking her to do — and to make the decision to walk away.

Vietnamese Beauty Queen Helping Girls to Stay in School

Skin-whitening, child marriage, a curtailed education: Vietnamese model and literacy campaigner H’Hen Nie has defied traditional expectations laid on her — and is now determined to show the next generation a different way.

Hikikomori: Inside Japan’s Alarmingly Common Problem

What is happening to Japan’s young men? And, why do they choose to stay in isolation?

China’s Deliveryman Fights for Recognition in the Boxing World

Zhang started out in martial arts but his interest in boxing was piqued when he saw a documentary about the rags-to-riches story of Philippines boxing great
Manny Pacquiao.

Hong Kong Medics Strike for China Border Closure

Hundreds of Hong Kong medical workers walked off their jobs on Monday, demanding the city close its border with China to reduce the coronavirus spreading — with frontline staff threatening to follow suit in the coming days.

US Seizes Real Human Hair Products from China’s Forced Labor Crackdown

US customs officials said Wednesday they had seized a shipment of products made from human hair believed to be made by Muslims in labor camps in China’s western Xinjiang region.

Now Open: Thailand’s First Cannabis Plantation

Thailand has plans of contributing to a booming worldwide industry

Hermès Continues Double-Digit Growth in China but Drop in Hong Kong

French luxury goods maker Hermes said Thursday that its sales accelerated in the third quarter thanks in particular to China despite the unrest in Hong Kong.

Taylor Swift Kick Off China ‘Singles’ Day’ Followed by $30 Billion in Sales

Chinese consumers spent a record amount on Alibaba platforms Monday during the annual “Singles’ Day” buying spree, the world’s biggest 24-hour shopping event, which kicked off this year with a glitzy show by US singer Taylor Swift.

China Says it Has Sold Nearly Four Billion Masks Abroad

China has sold nearly four billion masks to foreign countries since March, officials said Sunday, as they tried to stem widespread fears over the quality of medical exports.

Visiting Vietnam for the First Time: The Wary Backpacker Edition

Backpacking across Asia will bring some problems – it would be better to educate yourself before having your visa stamped.

Coming Out As Gay in Asia

Many gay men openly reject feminine gay men, as if they are less gay when partnering with straight-looking gay men. – Robert

Feline Enthusiasts’ Thoughts on International Cat Day

Videos of frolicking felines and gifs of purring pussies will be how most animal enthusiasts mark International Cat Day on Saturday.

Off the Air: Top Philippines Broadcaster Shuts Regional Stations

Anchor Dhobie de Guzman has been the face of a popular news show in the northern Philippines for more than a decade. Now the closure of his regional station — and dozens of others countrywide — has left him out of work.

Inside Thailand’s Luxury Quarantine Resort

A private infinity pool, gourmet meals — and two temperature checks a day. Welcome to five-star quarantine in Thailand, where well-heeled tourists can live in luxury while obeying some of the world’s strictest anti-coronavirus measures.

Badminton Star’s Offer for Coaching Sparks Frenzy on Twitter

It’s an irresistible prospect for budding badminton players — a chance to be coached by Japanese world number one Kento Momota, who has triggered thousands of responses by offering his services.

Families of Hong Kongers Held in China Cast Doubt on Prison Letters

Relatives of 12 Hong Kong democracy activists detained in mainland China said Friday that letters from their loved ones praising their treatment and urging their families to stay quiet about their plight were likely written under duress.

Celebrities Break Silence as Thailand Protests Escalates to Unprecedented Level

A K-pop superstar, beauty queens and TV personalities are among a growing wave of celebrities backing Thailand’s pro-democracy movement, sending out messages of support to millions of followers on social media.

First Arab Space Mission to Mars Launches from Japan

The first Arab space mission to Mars blasted off Monday aboard a rocket from Japan, with the probe dubbed “Hope” successfully separating about an hour after liftoff.

US Sanctions Chinese Organized Crime Figure ‘Broken Tooth’ Wan

The US Treasury slapped sanctions Wednesday on a notorious Chinese organized crime leader known as “Broken Tooth”, alleging he is expanding criminal activities throughout Southeast Asia on the back of a major Beijing infrastructure initiative.

President Xi Lavished Praise on Macau for ‘Patriotism’

Chinese President Xi Jinping lavished praise on Macau Thursday for instilling patriotism and rejecting political strife, in stark contrast to his tough words for neighboring Hong Kong as it convulses with unrest.

Ghibli Producer Shows How to Draw Totoro Online

Time on your hands and a love of anime? A producer from Japan’s Studio Ghibli is offering an online tutorial for drawing one of its most beloved characters: Totoro.

Ten Tons of Trash Removed from Mount Everest

A group of tourists sip water at a five-star hotel in Kathmandu, aware that the green glasses in their hands were once bottles discarded on Mount Everest — left by climbers eager to make their ascent.

Asia Cracks Down on Virus ‘Fake News’

Hundreds of people have been arrested across Asia for posting purported false coronavirus information, according to an AFP investigation, deepening concerns that growing government efforts to combat “fake news” will target the wrong people and silence dissent.

What is Chloroquine and Could it Cure the Coronavirus?

Could a pair of decades-old, relatively inexpensive drugs be the solution to the novel coronavirus pandemic?

Asian LGBTQ Beauty Vloggers Worth Subscribing To

Today’s social media landscape has paved the way for more diverse representation among people of all gender and sexuality. Whether you’re on the lookout for inspiring coming out stories, day in the life videos, or make up tips, these vloggers will be your new favorites.

Holi: The Most Colorful Festival of All Festivals

More than just being a colourful event, the famous Holi festival of India and Pakistan bears great significance in the lives of the people in more ways that what meets the eyes.

McDonald’s Apologizes after China Store Bans Black People

US chain McDonald’s has apologized after a sign telling black people they were banned from entering a branch in southern China prompted outrage online, following reports of discriminatory treatment towards Africans in the city.

Malaysia’s Cut On Sand Export May Affect Singapore’s Expansion Plans

Malaysia issues a ban on the export of sea sand to Singapore, a move which, according to experts, could upset the island-state’s extensive expansion plans.

Most Popular K-Pop Groups Voted by Global Fans 2019

In recent years, music from South Korea has taken the world by storm. But among the hundreds of South Korean groups, who are the ring leaders? Stubhub has found out the most popular ones.

Dreams of Chicken: Jollibee Set on Global Expansion

The Filipino fast food corporation has set its sights on the rest of the world, starting with the US and Canada.

World Press Photo Exhibition Featuring Images from Hong Kong’s Protests Shut down in Macau

An annual World Press Photo exhibition featuring images from Hong Kong’s huge pro-democracy protests last year has been shut down in Macau without explanation, sparking speculation of political pressure from Beijing.

Top Electronic Music Festivals in Asia

Think the electronic music scene isn’t alive in Asia? These amazing Electronic music festival in the region will prove you wrong.

Clockenflap Music Festival Canceled Over Hong Kong Political Unrest

Clockenflap, Hong Kong’s biggest music festival, has been cancelled, organisers said on Friday, the highest-profile event so far to fall victim to the increasingly violent political unrest engulfing the city.

Netflix Adapts Famous Chinese Novel ‘Three Body Problem’ into a Series

Netflix has gotten the right to produce Liu Cixin’s popular science fiction work The Three Body Problem into a series. The project will involve bigtime names in the industry like Game of Thrones’ David Benioff and D.B. Weiss as executive producers, and director Rian Johnson from The Last Jedi.

Experience the Futuristic Version of Japan via Virtual Tokyo Tower

The virtual Tokyo Tower “ Tokyo Tower 100 years from now” is a futuristic entertainment space with the image of. Using a 3D model called “Avatar”, climb up to the main deck and top deck just like the real Tokyo Tower, and enjoy a 360 ° panoramic night view from the center of Tokyo.