China’s central bank issued a “death sentence” for ICO (initial coin offering), banning new projects raising money through crypto-currencies. Many Chinese news outlets have described the country’s ICO market as a bubbly sector characterized by widespread fraud, with thousands playing a money game that has gone out of control. There were 65 ICOs in China in the first half of 2017, with over 100,000 investors participating, raising close to $400 million.
94% – the percentage of students at Fudan Univeristy who regularly watch videos on Bilibili.com, according to the company’s chairman Chen Rui.
The site, which differentiates itself by featuring entertaining “弹幕” (Dan Mu, live commentary by users that pops up on a video when you’re watching), is extremely popular among young people and animation fans in China. Over 90% of Bilibili users are under 25 years old. Nicknamed “B站” (B site), the Tencent-backed website competes with the Alibaba-backed Acfun.cn (nicknamed “A站”, A site).
刷脸 Shuā Liǎn (face scanning)
Imagine a world where you don’t even need your phone to pay a bill. Alipay and JD.com recently rolled out “Shua Lian” (face scanning) services, where users can pay simply by looking into a camera. The facial recognition technology will identify you in 1-2 seconds, and money will be deducted from your account. The technology can identify your face correctly even if you wear a wig, heavy makeup, or have other people in the background. In addition, at least three universities in Beijing have incorporated Shua Lian into the campus registration system. Students merely need to show their face to enter a dorm building, for example.