alexa certify

Blockchain-Based Service Network in China for Commercial Use

China has launched its nationwide Blockchain-based Service Network (BSN) for global commercial use. Half-year following the beta test launch, China’s BSN is now officially open for commercial use.

Different Chinese government officials and heads of organizations met in Beijing last April 25 to discuss to the public the launch of the BSN.

In addition to that, the BSN is a global infrastructure to support blockchain projects to build and run new blockchain applications for a lower cost. Also, it plans to accelerate the development of smart cities and the digital economy.

China UnionPay, China Mobile, and Houbi China worked together towards the creation of the latest BSN.


Flying Start

Corporate and individual developers have displayed an interest in the Blockchain-based Service Network. Based on the report, over 2,000 developers tried BSN in the six months since beta release on October 15, 2019. Then, the developers on BSN made applications to aid public welfare charity, item traceability, and electronic invoices.

In the Beijing meeting, Blockchain Service Network Development Alliance’s Chairman Shan Zhiguang said that the network currently has 128 public nodes. Here, 76 of these nodes are in China. Forty-four are under construction, and the other 8 are overseas city nodes, covering six continents. The chairman also revealed that by the end of 2020, they aim to have about 200 nodes in the network.

The network doesn’t have any restrictions on the development or deployment of applications and accounting that were applicable during the beta period with the official launch of BSN. Moreover, developers on the network will also have the freedom to upgrade their application as they wish.

Now, this is another achievement for China when it comes to bringing wider blockchain adoption and leveraging it to advance its technological development. China has been actively working on its digital central bank currency. In a report, Starbucks and McDonalds were already trying the digital yuan.


DASH Back to Japan

Elsewhere, the privacy-based cryptocurrency might see a return to the Japanese market if the group operating Dash Japan will become successful.

The $30,000 proposal submitted the group running Dash’s Japanese website got the approval to continue their efforts to make the token relisted in Japan.

In an April 27 update on a DashNexus proposal, Dahs Japan’s Yosuke Suda has purportedly been in touch with the Dash Core Group to get DASH back in the hands of Japanese investors.

Suda, also known as Samurai33, initially posted the proposal on March 10. It intended to get the crypto asset listed on registered crypto-asset exchanges in Japan. And they also want it to gain a status similar to Bitcoin (BTC), wishing to see DASH used for payments within the country.

Within the proposal, Dash Japan asked for $30,000 for memorandums drafted by lawyers and CPAs. As well as travel for himself and the Dash Core Group to Tokyo. And this is with Suda promising to deliver the funds to a Dash Core Group wallet.

They approved the proposal on April 27. But no one has been in the United States for the past 14 days will be allowed entry to Japan. And this is because of the COVID-19 travel restrictions.

Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

You might also like

Leave a Reply


Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.