One of the main aims of China’s national blockchain infrastructure is to offer a low-cost way for SMEs to adopt blockchain. As the next industrial revolution will be based on new technologies, blockchain will play a fundamental role. As per the BSN statement, Tezos is one of the blockchains included by BSN in round one. This group includes Tencent’s digital currency wallet Webank and Cloud, Huawei, and Shenzhen Securities Communication. These latest updates are more of a recap of what has happened, and a showcase of what’s to … What is China’s Blockchain Services Network (BSN)? Ethereum, Chainlink, EOS, Tezos, NEO, Nervos and IRISnet will be part of the redesigned BSN International Portal.The portal will be deployed on August 10 of this year and will allow users around the world to access the blockchain technology. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. © 2020 Sony Interactive Entertainment Inc. All Rights Reserved. To learn more about this topic, CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs. More often than not, we find extremely biased information that exploit the complexity of blockchain to obscure facts. FISCO created the BCOS open-source network. BSN will now be split into two separate entities: BSN-China: a private consortium led by the State Information Center. The leading group in its creation is FISCO, or Financial Blockchain Shenzhen Consortium. The aim with UDPN is to develop a payments API for any business or consumer application that needs to make a payment using the network. The universal digital payment network (UDPN) is currently at its design phase, which will be completed in five years. BSN’s mission is to provide a public infrastructure network … BSN’s mission is to provide a public infrastructure network that can develop, deploy, operate & maintain, interoperate, and supervise blockchain applications at low cost. China’s Blockchain Service Network (BSN) wants to build a universal digital payment network. China’s Blockchain-based Service Network (BSN), the country’s nationwide blockchain project, has just launched an official international website, Cointelegraph reports.. According to local media reports, the beta testing for commercial usage went well. Blockchain technologies are extremely powerful for enterprise applications as it allows for large scale data tracking with a guarantee on the authenticity of data. BSN is China’s first nationwide blockchain network that: Backed by Chinese government policy think tank the State Information Center (SIC), and jointly developed by major China’s state-run telecom China Mobile and the Chinese government-supported payment card network China UnionPay, and Red Date Technology Save my name, email, and website in this browser for the next time I comment. The document is a fifteen-year plan for China’s development and blockchain/digital currencies will be an integral part. BSN is trying to support and interconnect multiple public and private blockchains in its international network. The system will also be used to track local level issues such as road safety, with users encouraged to report any issues they see in the community. The BSN is a one-stop shop for DApp developers to deploy and manage any permissioned or permissionless blockchain applications. The BSN was launched by China’s State Information Center (SIC), China Mobile, UnionPay, Smart Government, and Red Date Technology, which is coordinating the international rollout. However, according to Ledger Insights, the plan does not mention China’s digital yuan or eCNY. To learn more about this topic, CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs. It enables developers to build applications, smart cities, and even digital economies on top of it without participants having to design a new network from scratch. China’s hotly-anticipated nationwide effort to integrate blockchains – the Blockchain Service Network (BSN) – has split into two entities over a disagreement to integrate public blockchains. China’s government-backed blockchain project, the Blockchain Service Network, has announced the integration of the Tezos blockchain onto its According to Chinadaily, the BSN was rolled out in conjunction with Hangzhou’s City Brain platform and focussed on e-governance improvement, disinfection for hotels and more individualised technological services. The Paypers is the Netherlands-based leading independent source of news and intelligence for professionals in the global payment community. China’s State-Sanctioned Blockchain Project BSN Adds Polkadot, Oasis, Bityuan to Network Chinese blockchain infrastructure provider Blockchain-Based Service Network (BSN) has … According to an official announcement on Sept. 24, Tezos has been selected as the “one of the first batch of … If the BSN manages to fulfil its aim of having its network adopted at scale, it could have a significant role in setting the standards used by others, not just in China, the BSN blog post mentiones. The system was built by UnionPay, the State Information Center (SIC), China Mobile, and three other organizations to support the digital economy and smart cities. On October 15, 2019, BSN was jointly initiated by the leaders of the State Information Center, China Mobile & China UnionPay. CyberFi ($CFi): Automating decentralised finance? The speed that BSN is expanding is massive and the goal is to have 200 server nodes across China by the end of 2020. It aims to build the universal digital payment network (UDPN) in five years, starting with a beta version in the second half of 2021. BSN Adds New Blockchain Projects. The network has already shown itself to be popular in its initial Beta period which began six months ago. BSN-China … China’s Blockchain Service Network (BSN) group has revealed its plan to integrate with six public blockchains. Enjin (ENJ) Explained: Blockchain Gaming Platform, Polkadot ($DOT): Everything you need to know about the DeFi darling of China. The city which the network was tested in was Hangzhou, in Eastern China after the local government signed an agreement with the research group. First announced in October 2019, China’s Blockchain Service Network, also known as BSN, is aimed at providing a global public infrastructure designed to support both private and public blockchain networks across interconnected cities. Alongside this, the BSN will also provide a foundational consortium chain alliance for use for smart cities and digital economies. According to Weixin‘s QQ portal, China’s Blockchain Service Network (BSN) which is currently in beta, was set for a global launch on April 25. What is China’s Blockchain Services Network (BSN)? Blockchain Service Network is a Chinese government-supported blockchain research and development company. The network will also promote research in other areas and look to foster a development ecology, according to BSN alliance President Liu Yunan. 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