Alibaba to Lead Distribution of China's Digital Currency Initiative

China's central bank is reportedly preparing to distribute digital currency to Alibaba Group, Tencent, and other financial institutions. The recipients will then distribute the currency to Chinese citizens and businesses, marking a significant step in China's push towards a digital currency ecosystem.

Alibaba to Spearhead Distribution of China's Central Bank Digital Currency

In a groundbreaking move that signals the Chinese government's commitment to digital currency innovation, the People's Bank of China (PBOC) is set to distribute its first batch of central bank digital currency (CBDC) to Alibaba Group and seven other prominent institutions. This historic event marks a pivotal step in China's pursuit of a cashless society and positions Alibaba as a key player in the country's digital transformation.

The recipients of the PBOC's CBDC include internet giant Tencent, China Construction Bank, the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China, Chinese banking association Union Pay, and an unnamed organization. These institutions will be entrusted with the responsibility of dispersing the digital currency to China's vast population of 1.3 billion citizens and businesses operating within the renminbi, China's fiat currency.

According to an anonymous source familiar with the matter, the technology underlying the CBDC, dubbed "DC/EP" (Digital Currency/Electronic Payments), is fully operational and poised for rollout as early as November 11th, coinciding with China's busiest shopping day, Singles Day. The source also indicated that the PBOC intends to eventually extend the currency's availability to consumers in the United States and beyond through collaborations with correspondent banks in the West.

Manchester City Embraces Blockchain with Superbloke Partnership

In a bid to enhance fan engagement and delve into the burgeoning gaming industry, Manchester City has forged a strategic partnership with South Korean football gaming startup Superbloke. The collaboration designates Superbloke as the official blockchain-based Gacha partner of Manchester City in Korea, Japan, and Southeast Asia.

As part of the partnership, Superbloke will integrate Manchester City's players into its blockchain-powered FC Superstar online game. This allows users to assemble a virtual team by collecting, training, and evolving specially designed Manchester City digital player cards. These cards are meticulously crafted using real-life match statistics and in-game training.

Damian Willoughby, Senior Vice President of Partnerships at City Football Group, expressed excitement about the partnership, emphasizing its potential to create innovative fan experiences. He stated, "This new partnership marks another exciting milestone in City's growing relationship with gaming and will create unique experiences for fans to engage with the club through digital platforms. We look forward to welcoming Superbloke to the Manchester City family and growing our knowledge of this developing industry through this partnership."

Petco Partners with Lolli for Bitcoin Rewards

Leading pet retailer Petco has joined forces with Bitcoin rewards app Lolli to offer its loyal customers a unique opportunity to earn Bitcoin while caring for their furry companions. The partnership offers two distinct rewards options.

Firstly, Lolli users can accumulate up to 3.5% satoshis (sats) on their purchases at Petco.com. Additionally, users can earn a flat 5,000 sats payment simply by sharing a photo of their dog and commenting on the tie-up.

"We are thrilled to partner with Petco and give our users the opportunity to earn Bitcoin for taking care of their furry friends. Pet food, toys, and treats are recurring costs, and now our users can look forward to Bitcoin rewards for looking after their pets, especially doggies," said Matt Senter, CTO and Co-founder of Lolli.

Farmarket Accepts Dash Cryptocurrency Payments

In a move that expands the acceptance of cryptocurrency in Venezuela, Farmarket, a leading pharmacy chain, has integrated Dash cryptocurrency payments into its operations. The deployment of an XpayCash PoS system within the first pilot stores, managed by Panda Exchange, enables instant transactions facilitated by Dash's InstantSend technology.

During the initial two months of operation, members of the local Dash team will be on hand to provide support and educate staff and customers about the technology, addressing any questions related to Dash and X-PayCash. The rollout is expected to encompass the entire chain of 22 stores by the end of 2019.

Cinthya Sagues, General Manager at Farmarket, hailed the partnership as a testament to the company's commitment to innovation. She stated, "Innovation supports our core values of serving clients, growth, and system development, so being able to offer Dash through XpayCash will allow us to offer the most updated payments technology on the market."

Ryan Taylor, CEO of Dash Core Group, expressed optimism about the partnership's potential to foster a purchase-driven economy. "Enabling Dash payments at Farmarket is a massive step in growing our ecosystem of retailers. Dash users can now pay for essential products and medicines at a well-known and trusted pharmacy brand," said Taylor. "We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move toward a purchase-driven economy."

Migros Taps TE-Food for Supply Chain Traceability

Switzerland's largest retailer, Migros, has partnered with TE-Food to leverage its blockchain-based traceability system for its fresh fruit and vegetable supply chains. This initiative demonstrates Migros' commitment to optimizing supply chain efficiency and reducing food waste.

Previously, fresh food suppliers communicated traceability data to Migros via a GS1 standards-based API (EPCIS). TE-Food has expanded this system by introducing a B2B mobile app, a web app, and file uploads. The system is currently reserved for internal use, with no immediate plans to involve consumers.

"Although a growing number of food companies are launching traceability projects, many of them focus only on the marketing advantages by providing transparent food information to their consumers," said Migros in a press release. "However, food traceability can provide more value from easier product recalls to improved supply chain control."

"Migros wants to achieve deeper supply chain insight to optimize its processes. Supply chain optimization can lead to quicker distribution and reduced food waste, which is also part of the European Food Safety Authority's (EFSA) initiatives for the next years."