China set to launch BSN internationally

China is set to launch its blockchain services network (BSN) internationally. It has been running domestically in China since the 25th of April.

By · Jul 27, 2020 . 6min read

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Source – Unsplash

China launched its blockchain-based service network BSN earlier this year. The purpose of BSN is to facilitate the creation of blockchain applications at a lower cost. It will be available globally, and the Chinese have released an official statement on its release.

Since its launch, BSN has become involved with more than a dozen communication operators and cloud service providers both within China and abroad. It has deployed more than 120 nodes around the world on six continents. As a result, developers across the globe have access to low-cost blockchain environment services.

A little known tech firm called Red Date Technology is the firm behind the pushing out of BSN on an international scale. The nations top economic planner is backing the firm. Its vision for BSN is something similar to that of Amazon Web Services or Microsoft Azure. Yifan He founded Red Date back in 2014. He was a private equity investor. Yifan used his own money to start the firm. They initially worked with the government on smart city projects. It was here that Yifan established a network with telecommunications and financial services giants that led to the creation of BSN.

China will have its Blockchain network.

The BSN Development Alliance decided to split BSN into two networks. They will be BSN China and BSN international. BSN has already been up and running in China since 25th April. BSN International will go live on 31st July. Both networks will comply with the laws of the respective countries that they are currently operational.

Beijing Jujube Technology Co. Ltd. will manage the international BSN network along with several internationally renowned blockchain technology companies. The Chinese BSN network will initially consist of 5 public city nodes. Thus, BSN China will connect with the international system.

The Chinese expect BSN to be a game changer. They believe it will break the heterogeneity of the current localized deployment of blockchain technology. The development and release of Decentralized Applications or dApps will become incredibly cheap. This will mirror the early development of the internet. The National Information Center, China Mobile, China UnionPay and Jujube Technology started BSN. They intended to use blockchain technology to empower industries all over the world and build BSN up to be a blockchain network that is useful everywhere.

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