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John Kiff

China's state-backed BSN pushes new public blockchain network - 0 views

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    China's Blockchain-Based Service Network (BSN) reportedly expects to launch a beta version of its open source Spartan Network for international markets on August 31, 2022. Launched in 2020, BSN's mission is to develop a global public infrastructure to deploy and operate all types of distributed ledger technology (DLT) applications. Spartan Network moves BSN another step closer to becoming a one-stop platform for developers of DLT applications. The network is designed only for international markets because so-called open blockchains are not allowed in mainland China. On the mainland, BSN operates BSN-DDC.
John Kiff

China's blockchain project BSN to pilot global CBDC system in 2021 - 0 views

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    China's government-backed Blockchain Service Network (BSN) is building a universal digital payment network (UDPN) to integrate various countries' central bank digital currencies (CBDC). Currently at the design stage, the beta version of UDPN is expected to launch in the second half of 2021. The BSN plans to complete the UDPN development in five years. With the UDPN, the BSN aims to enable a standardized digital currency transfer method and payment procedure. The new system intends to bring together systems like banking, insurance, enterprise resource planning and mobile apps through APIs to provide a cost-effective global payment solution.
John Kiff

China's State-backed Blockchain Network Expanding To Turkey, Uzbekistan - 0 views

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    China's Blockchain-based Service Network (BSN) - a public-private nationwide infrastructure project to spur mass adoption of blockchain technology - is setting up international portals in Turkey and Uzbekistan, following its September announcements to set up BSN portals in Hong Kong and South Korea. The BSN integrates frameworks such as Ethereum, Algorand, EOS, Polkadot, NEO, Tezos, Oasis, Hyperledger Fabric, ConsenSys Quorum, and Corda. It is also supported by cloud services, including Amazon Web Services, Google, and Microsoft Azure.
John Kiff

Chinese Blockchain Service Network set to onboard ConsenSys' Quorum - 0 views

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    Ethereum studio ConsenSys will reportedly integrate Quorum into the China state-sanctioned Blockchain Service Network (BSN). The BSN is a service infrastructure that allows developers to build decentralized applications on top of blockchains that it supports, like Hyperledger Fabric, Ethereum, and Polkadot. It is backed by the State Information Center of China, a think tank under the country's cabinet-level economic planning agency, the National Development and Reform Commission. Beijing-based Red Date Technology oversees the operations and development of the platform.
John Kiff

China has been quietly building a blockchain platform. Here's what we know - 0 views

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    In a speech in 2019, the Chinese leader said blockchain was an "important breakthrough in independent innovation of core technologies." Since then, China has quietly been building a platform that aims to facilitate the deployment of blockchain technology for enterprises. It is called Blockchain-based Service Network (BSN). BSN, which has links to the Chinese government, is aiming to go global but could face challenges.
John Kiff

Inside China's Plan to Power Global Blockchain Adoption - 0 views

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    Led by China's State Information Center, the Blockchain Service Network (BSN) is poised to launch for domestic commercial use Wednesday and globally on April 25. If it works as envisioned, companies and software developers will be able to plug into the BSN and build blockchain-based applications as easily as assembling Lego sets.
John Kiff

First Open Permissioned Blockchain in China's Blockchain-Based Service Network Launched... - 0 views

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    Bianjie has launched the first open permissioned blockchain on China's Blockchain-based Service Network (BSN). This WenChang blockchain is powered by Cosmos' interoperable blockchain ecosystem. WenChang Chain is compliant with Chinese enterprise standards and offers permissioned controls. The global city node infrastructure, deployed by BSN, presents developers with a ready, open blockchain network so they can focus on refining the application layer, develop business logic, and deploy dApps in an easy and more cost-effective way.
John Kiff

China's BSN Onboards EY Services to Boost Ethereum Use - 0 views

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    China's Blockchain Services Network (BSN) plans to offer blockchain analytics and financial auditing services for Ethereum developers in its network through a new partnership with Big Four auditor Ernst & Young.
John Kiff

China's State-backed Blockchain Network, U.S. Firm Team Up To Enhance CBDC Efficiency - 0 views

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    "Cypherium, a smart contract technology provider focusing on central bank digital currency (CBDC), has joined with BSN to make the infrastructure more accessible to developers, the company said today in a statement."
John Kiff

Legislation To Combat Critical Chinese National Security Threat - 0 views

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    Legislation to "combat China, prevent cyberattacks, and protect U.S. intellectual property" was introduced into the U.S. House of Representatives. The Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act would prohibit the federal government from utilizing blockchain technology developed by China and other foreign adversaries to ensure these countries do not have a backdoor to access critical national security intelligence and Americans' private information. Firms listed include any parent companies or subsidiaries of China's Blockchain Services Network (BSN) and the affiliated Red Date Technology, and iFinex, the parent company of USDT issuer Tether.
John Kiff

China's Digital Currency and Blockchain Network: Disparate Projects or Two Sides of the... - 0 views

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    "China is simultaneously developing two ambitious projects that aim to digitize key parts of its economy and, if successful, may have broad implications for economies beyond its borders. Often conflated, the Digital Yuan (数字人民币, shùzì rénmínbì, also known as e-CNY) and the Blockchain-based Service Network (BSN, 区块链服务网络, qūkuàiliàn fúwù wǎngluò) are distinct technologies-and the success of either is not uniquely predicated on that of the other. But experts, as well as the organizations spearheading these projects, suggest that they have the potential to augment one another in the future."
John Kiff

Deutsche Bank and Standard Chartered Ventures Test SWIFT Killer for Stablecoins and CBDCs - 0 views

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    Deutsche Bank and Standard Chartered are testing a SWIFT-like messaging system that instructs and allows blockchain-based transactions to occur across a spectrum of networks. The banks are running a series of test cases, including transferring and swapping USDC stablecoins, on the Universal Digital Payments Network (UDPN), a permissioned blockchain system composed of validator nodes run by an alliance of banks, financial institutions and consultancies. The system was created by GFT Group and Red Date Technology, co-founder of the Chinese government-backed Blockchain-Based Service Network (BSN). https://www.gft.com/int/en/dam/jcr:29335084-78e2-4d00-8771-c4890ae93347/pr-udpn-poc-deutsche-bank-and-sc-ventures.pdf
John Kiff

Michael Sung: China's National Blockchain Will Change the World - 0 views

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    China is launching the Blockchain-based Services Network which will be the backbone infrastructure technology for massive interconnectivity throughout the mainland and to the Digital Silk Road to provide interconnectivity to all of China's trade partners around the globe. The BSN will be a new internet protocol to allow a more efficient way to share data, value and digital assets in a completely transparent and trusted way between anyone who wants to be a node on the network.
John Kiff

China's digital developments - 0 views

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    The BSN is a cross-cloud, cross-portal, cross-framework global infrastructure network used to deploy and operate all types of blockchain applications. It provides a shared blockchain resource environment with the twin goals of reducing the cost of technology adoption and supporting interoperability between different blockchain applications (DApps).
John Kiff

China's State-backed Blockchain Network To Expand To South Korea - 0 views

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    "Red Date Technology, the company China tapped to manage its Blockchain Service Network (BSN) [is partnering] with South Korean blockchain company MetaverseSociety in what will be BSN's first expansion outside greater China... [This] reflects China's ambition to... build a global blockchain-based cross-cloud, cross-portal and cross-framework public infrastructure network."
John Kiff

China's state-backed blockchain firm to launch major overseas project - 0 views

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    Blockchain-based Service Network (BSN) is planning its first major international expansion, its CEO told CNBC. The company, which has links to the Chinese government, will make the international version of its product open sourced to allow people to inspect the code and ensure there are no backdoors. BSN's international product called the the Spartan Network will eventually be made up of half a dozen public blockchains that do no operate with cryptocurrencies.
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