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  • A Note on China’s Approach to Cryptocurrency and Blockchain Application in the Games Industry: Coco Game Currency

    An estimated 640 million online gamers participated in China’s games industry in 2019. Their pursuit included earning points or tokens that they could redeem for prizes or gifts and in-game assets. A centralized platform allowed game operators to share the administration and management of tokens and rewards, but the system was not as transparent or immutable as stakeholders desired. In January 2019, a new points redemption system was launched based on blockchain technology. The new system, involving game operators, users, custodian banks, suppliers, and tax agents was credible and more transparent, and foreshadowed China’s growing interest in legal digital currency. How policy would shift toward digital currency was unclear; however, the fact that the blockchain race between countries had intensified was clear. The application of blockchain in China’s games industry was just one of the visible examples.
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  • Chow Tai Fook: Blockchain for the Diamond Industry

    In 2019, Chow Tai Fook Jewellery Group Limited, one of Hong Kong’s most popular jewellery chains, had recently adopted blockchain, under the leadership of managing director, to address some of the challenges in the diamond industry. In particular, the company had moved from paper certificates to digital certificates; blockchain also allowed the firm to trace the origin of diamonds, eliminating the problem of blood diamonds. In order to continue as a leader in transforming the diamond industry for the digital age, what other changes should the managing director implement? Should the company emphasize its use of blockchain technology in marketing to end consumers?
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