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

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

Director of BIS Innovation Hub: COVID-19 reveals the value of DLT

Benoît Cœuré, director of the Innovation Hub at the Bank for International Settlements, recently said that central bank digital currencies, or CBDCs, crypto, have been “highly centralized.” amid the corona pandemic. On April 17, speaking during a webinar organized by Accenture, the Bretton Woods ReReinventing Committee and the Chamber of Digital Commerce, Cœuré said that “the crisis has revealed the value of technologies that have the potential to help the industry. economic expansion of its activities”. He also revealed that the Bank for International Settlements (BIS) is looking into tokenization or crypto as a possible solution, to restart some segments of the economy during the lockdown period because of Covid-19. Corona pandemic reduces cash consumption The head of Innovation Hub highlighted the decline of cash payments during the Covid-19 pandemic, and affirmed that the current economic situation creates a lot of discussion around CBDCs: “Central bank digital currency is being di...
Post a Comment
Read more

Bitcoin price has plummeted but still can't break through resistance!

Currently, Bitcoin on primexbt exchange is facing a strong bearish trendline resistance. Throughout the past week, Bitcoin has failed to break above this resistance line. Just like my analysis last week, when Bitcoin first hit this downtrend line, I also predicted Bitcoin to be pushed down. Figure 1: BTCUSD, COINBASE, EASY Price Chart On the daily time frame (D) Bitcoin is still at a very strong psychological resistance price area, which is a price area that many traders are interested in. As you can see in Figure 1, Bitcoin is facing the following resistance levels: - Old support becomes new resistance - Price range of exponential moving averages EMA20 and EMA50 - Touching the downtrend line So this is still in a very strong resistance area, this price area we will analyze on 2 different points of view. 1. Bitcoin continues to plummet This week I am still basing on the Bitcoin analysis from last week to make the next analysis and prediction for this week. Looking at it objectively on...
Post a Comment
Read more