China Launches Nationwide Blockchain-Based Service Network f...
Cryptocurrency, News

China Launches Nationwide Blockchain-Based Service Network for Commercial Usage

China’s Blockchain-based Service Network (BSN) is now officially available for commercial usage, 6 months after the beta test launch. 

Several heads of organizations and Chinese government officials held a meeting on April 25, in Beijing, where the BSN launch was announced. The BSN is a global infrastructure which aids blockchain projects create and run new blockchain applications at a lower rate. It also aims to improve the development of smart cities as well as the digital economy. 

The BSN was created by the joint efforts of these 3 companies; China Mobile, China UnionPay and Huobi China. Corporate and individual developers have both expressed interest in the BSN. The report stated that over 2,000 developers have tried BSN in the past 6 months, since the beta was released on October 15, last year. The developers on BSN created applications to help public welfare charity, electronic invoices and item traceability. 

Shan Zhiguang is the Chairman of the Blockchain Service Network Development Alliance. During the meeting in Beijing, he mentioned that the network has 128 public nodes now. 76 of which are in China, 44 are under construction, while the rest of the 8 are overseas city nodes, in six continents. The chairman also added that, they plan to have a minimum of 200 nodes on the network by the end of 2020. 

Following the official launch of the BSN, the network will not have to face restrictions on the development or deployment of applications and accounting that were applied during the beta period. Developers on the network will also have the opportunity to upgrade their applications at any time, without restrictions. 

As China continually seeks to improve blockchain adoption and leverage blockchain to advance its technological development, the BSN is a great achievement towards that direction.

coinmag

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.