China’s Blockchain Service Network (BSN), a national blockchain platform, this week launched the first two open permissioned blockchains on BSN China, powered by Cosmos’ interoperable blockchain ecosystem in what is viewed as a highly significant milestone in China’s blockchain development.
The Tai’an Chain, named after the city of Tai’an in Shandong Province, and WenChang Chain are the first to join BSN’s Open Permissioned Blockchain (OPB) Initiative, where they will be able to leverage the public chain technology in BSN’s China portal in compliance with Chinese regulation.
The WenChang Chain — which takes its name from WenChang city in the new free trade zone of Hainan Province — is powered by Bianjie.AI, a Shanghai-based technology company that also developed IrisNet. Bianjie.AI is one of the public chain partners already integrated with BSN International.
Launched for commercial use in April last year, the BSN initiative aims to build a global blockchain-based cross-cloud, cross-portal and cross-framework public infrastructure network that can host global enterprises as they develop DApps in a cheap and convenient manner. It was split into two entities — BSN International and BSN China — in July.
The rationale for creating two entities was because public chains could only be in the BSN International portal. BSN China, which owns the majority of BSN’s city nodes across the mainland, has a separate system that follows Chinese strict regulations on blockchain. BSN is led by China’s State Information Center and backed by giant state-owned companies like China UnionPay, China Mobile and China Merchants Bank.
“China had been longing to embrace public chain technologies for years but there wasn’t an effective way to do so because the regulators are not a fan of cryptocurrency,” said Yifan He, executive director of BSN and CEO of Red Date Technology, which powers BSN, in a media statement.
Read more: https://forkast.news/china-bsn-blockchain-service-network-tai-an-wenchang-chains/
