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

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

Surprised the true identity of Bitcoin's father

In the last decade, the name Satoshi Nakamoto was probably one of the big unknowns for the crypto community in particular and for the world in general. That is the person who created Bitcoin and successfully “revolutionized” the primexbt exchange trading system To this day, no one knows who Satoshi Nakamoto really is. There have been many studies to investigate the true identity of this name, but everything about Satoshi has been virtually non-existent since late 2010. Regarding this name, it is assumed that this is a Japanese man who is fluent in English, as evidenced by the whitepaper sent in October 2010. However, others are not. Given that Bitcoin cannot be the product of one individual, Satoshi Nakamoto is likely a group of experienced coders and cryptographers. So the question is, why is the name “Satoshi Nakamoto” so famous? The story begins in 2008, when someone used this name to send the Bitcoin whitepaper to all the members of the network who believe in privacy, decentraliza...
Post a Comment
Read more

Compare Bitcoin investment and Bitcoin trading at Primexbt

In recent months in 2021, bitcoin has broken out in value from $5,000 to $69,000, attracting a huge wave of interest from both professional and casual traders. When participating in this volatile bitcoin trend, the first thing you need to do is decide whether to trade or invest in this cryptocurrency.The suitability of these two options depends on many factors, ranging from a willingness to take risks to a long- or short-term investment strategy. To help you make the right decision, we've listed some characteristics of both below: Bitcoin Trading on primexbt It is possible to speculate on the price without actually owning it Leverage can be applied to open a position with a very small amount of money Can trade quickly without having to wait for the exchange It can find opportunities to sell and buy BitcoinsGreater short-term profit potential, while also higher risk Invest in Bitcoin Allows you to get the most out of your purchased bitcoin ownership Must make purchases through excha...
Post a Comment
Read more