Huobi becomes part of China’s blockchain consortium

The Chinese arm of leading cryptocurrency exchange Huobi has joined China’s prestigious blockchain consortium, along with financial services giant UnionPay and some prominent names in the telecom sector such as China Mobile, China Telecom, WeBank, and China Merchants Bank International. China’s nationwide blockchain alliance, known as the blockchain service network (BSN) formed by the State Information Center, was launched in October, with an aim to foster blockchain sector growth and aid the development of digital economy and smart cities in the country. It was bestowed with a responsibility to breathe new life into the economic and technical approach of blockchain