BSN is Planning a Foray Beyond China

As Beijing continues its digital ledger push, the Chinese state-backed blockchain business plans to expand internationally. The BSN is a “one-stop-shop” for companies that want to install blockchains in the cloud without building their networks. According to company CEO Yifan He, the company plans to launch a BSN Spartan Network project in other countries later this year. Due to Beijing’s firm stance and expulsion from the People’s Republic, the BSN does not work with cryptocurrencies. BSN has over 25,000 developers and 3,000 apps and operates 28 blockchain frameworks and 19 portals. It was said to be working on a central bank digital currency (CBDC) system in January. #Markets #Blockchain #BlockchainbasedServiceNetworkBSN #CDBC Surveillance Concerns as China’s State Blockchain Firm Plans International Expansion https://t.co/rm6NvrIvbM pic.twitter.com/m5ELhfGXIp — bit.trail (@roccodallas) May 23, 2022 Is There a Global Chinese Blockchain Network? According to the source, the Spartan Network will consist of roughly six public blockchains that do not employ cryptocurrency. One of them will be a decentralised Ethereum with network costs paid in dollars rather than the blockchain’s native currency. Yifan He went on to say that the project’s goal is to keep the cost of using public chains to a bare minimum. He noted that this would allow more traditional IT systems and enterprises to incorporate public chains into their systems. Co...