Chinese Bitcoin Miner Prospects In Canada
Chinese maker of bitcoin mining Ebang International Holdings Inc. announced setting up a wholly-owned subsidiary in Canada to enhance its industrial chain layout through a combination of blockchain-capable financial and conventional businesses.
Bitcoin mining is performed by high-powered computers that solve complex computational math problems. The mining process involves identifying blocks within the blockchain. Ebang makes application-specific integrated circuit (ASIC) chips used in bitcoin mining.
Ebang said the new subsidiary in Canada has received a Money Service Business License from the Financial Transactions and Reports Analysis Centre of Canada September 16, 2020. This will allow the company to engage in foreign-exchange trading, digital currency transfers and dealing in virtual currencies in Canada.
Before this move, the Hangzhou-based company established a virtual currency exchange in Singapore.
Ebang reported a net loss of $6.96 million in the first-half year. Revenue dropped 51% to $11.04 million from $22.35 million previously. The company blamed the loss on the coronavirus pandemic and Bitcoin's scheduled supply cut of May 11.
Dong Hu, the chairperson and chief executive officer of Ebang, hopes to leverage new crypto exchanges and online brokerages that were opened in Singapore and Canada, according to Bitcoin.com.
Didi Offers Incentive To Drivers Facing Holiday Deluge
Didi Chuxing said it is sending up to 100 million yuan of subsidies to drivers across China, starting from Sept. 30, in aims to meet with strong demand during the Oct. 1 to 8 national holiday.
Customers' demand will peak September 30, Oct. 1 and Oct. 7, with about 40% of customers expected to encounter trouble ride hailing, said Didi, citing its smart traffic data.
There will be about 3 million drivers working through the holiday. The subsidies will be also available on Didi's platform and two Didi-affiliate ride-hailing apps - Kuaidi Chuzu and Huaxiaozhu.
Didi estimates the hottest tourist attracting site will be Beijing Tiananmen Square, Kuanzhai alley in Chengdu and Big Wild Goose Pagoda in Xi'an, while the most popular destination will be the south-eastern city Hangzhou.
Johnson & Johnson Subsidiary Aims To Set Up E-hospital
With 35 years of operating business in China, Xian Janssen, a pharmaceutical subsidiary of health care group Johnson & Johnson, plans to set a new e-hospital model for the country.
It signed a memorandum of understanding with the First Affiliated Hospital of Xi'an Jiaotong University in Shaanxi province last week to establish a novel model of internet-based, patient-centric health care services in China, China Daily reported.
This e-hospital is expected to provide convenient virtual health services for patients, intended to reduce doctor-patient communication costs and to improve access to innovative medicines and health solutions. The services will first start with patients suffering from blood cancers, immunology and pulmonary arterial high blood pressure.
The two partners stated the e-hospital marks a unique collaboration between a multinational pharmaceutical company and a general, tertiary hospital in China. This move combines the medical expertise of hospitals with innovative digital business solutions.
As of 2019, Xian Janssen had allegedly secured listing of 51 of its 62 innovative medicines onto the National Reimbursement Drug List.
