Skip to main content

China Launches Blockchain-Based Service Platform for Global Trade

Six months after the launch of the beta test, China's blockchain-based service network (BSN) has officially opened to the global commercial market.

China Launches Blockchain-Based Service Platform for Global Trade



Government officials and heads of organizations met on April 25 in Beijing to announce the public launch of the BSN network.

BSN is a global infrastructure that helps Blockchain projects design and operate Blockchain and crypto applications at a lower cost. At the same time, the network also promotes the development of smart city and digital economy. BSN was implemented by the cooperation of China Mobile, China UnionPay, and Huobi China.

You may be interested: Director of BIS Innovation Hub: COVID-19 reveals the value of DLT

Good start

Both businesses and individual developers have expressed interest around the Blockchain-based Service Network. According to the report, more than 2000 developers have tested BSN within 6 months since the beta was announced on October 15, 2019. Through BSN, they deploy applications to support the state welfare fund. , goods retrieval and electronic invoices.

During a meeting in Beijing, Shan Zhiguang, president of the Blockchain Service Network Development Association, confirmed that the network now has 128 public nodes. Of these, 76 are in China, 44 are under construction, the rest are located in other cities around the world, spanning six continents. Zhiguang revealed that they plan to place at least 200 more nodes in the Blockchain service network by the end of 2020.

With the official launch, the BSN network will no longer have restrictions on service development or deployment, and is considered to be applicable throughout the beta phase. Network developers are free to upgrade their products at any time.

This is an achievement of China in using Blockchain widely and promoting Blockchain to enhance technology development. In addition, China is actively implementing a central bank digital currency. As reported April 23, Starbucks and Mcdonald's are conducting a trial of the Yuan cryptocurrency.

Hope the above article of primexbt has brought you useful information. Follow us for more crypto news

Comments

Post a Comment

Popular posts from this blog

The Federal Reserve's balance sheet expands at a record pace

The Federal Reserve's balance sheet expands at a record pace - The Federal Reserve's balance sheet is expanding at a rapid rate. - In the last two months alone, the Fed has bought more assets than during the entire Great Recession - Some argue that the Fed's actions will lead to inflation in the long run. The Federal Reserve is buying back assets and its balance sheet is growing rapidly, especially over the past two months. Currently, the Fed buys about $41 billion in assets on a daily basis, and central banks around the world are also following in this vortex. According to an analyst at prime xbt , the economic point of this is pretty clear: inflation is coming. The Fed is buying in bulk The current spike in the Fed's balance sheet hasn't slowed since March. In fact, it's only picked up speed, and the result could be an unprecedented surge of inflation. This is what analyst Mati Greenspan (@MatiGreenspan), founder of Quantum Economics, told his followers recen...
Post a Comment
Read more

Bitcoin Forms a "Golden Cross" Pattern When Price Hits $7,500

Bitcoin bounced off the $7400-7500 resistance area on Thursday, with a high probability of a rally to $8000 The formation of the Golden Cross pattern predicts an imminent growth.Bitcoin has finally broken out of the ceiling that is holding back the price of the currency to enter a bull market. The coin's value surged past $7,500 on Thursday thanks to a sudden buying move that sent the price up over $704 in just 3 hours. Prices peaked at $7,775 on Coinbase before falling lower in early Asian trading on Friday. BTC was able to enter a resistance area on the chart. However, the upside movement is faltering, showing traders' anticipation for a continuation of the bull market before continuing to buy at regional tops. This could lead to a deeper drop to a lower price range. Formation of the Golden Cross pattern Bitcoin is expected to continue to increase in price, at the same time forming a Golden Cross pattern - a price model that can provide highly accurate predict...
Post a Comment
Read more

Tron DApps Available on Samsung App Store

Tron is expanding its ecosystem of cooperation with Blockchain Samsung in a new field that incorporates Blockchain games, which will be made available on its mobile devices. The Tron (TRX) project was announced on April 27, stating that applications built with Blockchain will be available on the Samsung Galaxy store. Tron DApps Available on Samsung App Store Tron and its tokens are backed by Samsung's Blockchain Vault, which stores private keys in a secure storage box. The integration is announced alongside Bitcoin (BTC) and Ethereum (ETH). As Tron has announced, Samsung's app store will include "Blockchain apps like Cuties, Super Player, Meerkat Mining, and Timeloop." It should be noted that Blockchain Cuties is a cross-platform game, and more and more Ethereum users are participating, even though transactions mostly take place on Tron. According to Dappradar.com, Super Player is probably currently an Ethereum-specific project. The other two applications are not yet ...
Post a Comment
Read more