China’s P2P lending crisis: second major bank pulls support for payment to P2P lending sites

ChinaTech in Asia — On Monday, I wrote that the high-profile Ezubao Ponzi scheme case was likely to have a negative impact on China’s entire P2P lending industry. It looks like that’s already happening. On Wednesday, Sina Tech reported China Merchants Bank has notified third-party e-payment platforms that starting Friday, it will no longer support payments to P2P lending services.

Mesh networks may become the ‘new web’

IndiaBENGALURU: At a time when web users in India are fighting for an open internet, an alternate technology that provides connectivity without internet or mobile coverage is gaining ground. Called mesh networks, the technology allows smartphones to connect to one another via Bluetooth and peer-to-peer Wi-Fi. The more the number of users, the stronger the networks, which is why these are sometimes called self-healing networks.

Canberra’s wi-fi network to block file sharing P2P traffic

ISP iiNet will block peer-to-peer file sharing on the free wi-fi network it has been contracted to build and operate for the ACT Government, in a bid to prevent users breaching its usage conditions. The ACT Government has confirmed with iTnews that it has given Australia’s third largest broadband provider permission to block peer-to-peer file sharing traffic. A spokeswoman for the Chief Minister of the ACT’s Treasury and Economic Development Directorate Kathy Leigh said that iiNet had sought to permission to block file sharing on CBRfree.,canberras-wi-fi-network-to-block-file-sharing-p2p-traffic.aspx

China’s top search engine clamps down on P2P lending sites after spate of money-stealing frauds

Search giant Baidu (NASDAQ:BIDU) recently removed links to over 800 Chinese peer-to-peer lending websites from its search results, according to China’s New Business Daily (hat-tip to TechNode). The new blacklist comes after a string fraudulent sites went dark and high-tailed it with lenders’ money, including one just last week. Over 100 such sites have absconded or went bust in recent years, with an estimated US$110 million lost in under half a year.