China’s Blockchain-based Service Network is planning to develop a universal digital payments network that will roll out later this year. The UPDN will be based on standardized procedures for international transfers and payments between central bank digital currencies, according to a report in NFCW.
The goal of the BSN’s UPDN is to change the current payment and circulation of a digital currency transfer method and payment procedure. This will expand the network by integrating more framework providers, strengthening partnerships with cloud service providers and further develop a private BSN network and empowerment platform. This platform will support multiple languages and coordinate with BSN’s global layout and development.