Blockchain Platform Coverage for the All Cities in Gansu
The Northwestern Chinese province of Gansu stated that its Blockchain Service Network (BSN) service platform covers all of its cities now.
Based on a report from the Chinese Communist Party’s official newspaper, the People’s Daily, Gansu initially revealed the BSN last May 2019. Initially, the provincial government set up nodes within the new stat development district in Lanzhou. Which is the capital and largest city of Gansu. Then, all 13 of the province’s other major cities have followed suit.
Aside from that, China has been urging a range of blockchain-related projects during the last several years. However, some nationwide efforts have been comparable to the BSN when it comes to scaling.
Authorities expect the latest network to help diminish the technical and economic threshold needed for firms who want to adopt blockchain technology solutions.
Gansu Mobile – a subsidiary of the state-owned telecommunication service provider China Mobile -, in January, set up a blockchain incubation center in Gansu. They plan the center to accelerate blockchain testing. This is an effort intended to run parallel with the province’ss 5G plans.
China mobile became one of the six institutions that have supported the launching of the BSN. So far, it has set up 69 blockchain nodes across the country. Also, they deployed 14 of them in Gansu, which has now had the second-largest number of nodes in the whole country.
Now, the province is exploring blockchain applications. In areas including supply chain finance, Internet of Things (IoT), e-government, and product taking.
The first nationwide blockchain network in China rolled out in October 2019, per Xinhua.
Initially, they slated the project’s six-month internal testing phase for completion by the end of this month.
BSN for Commercial Use
Now, the government reaffirmed its commitment to launching the BSN for commercial use in April this year as recently as early as January. But, the industry observers in media outlets like the Asia Times said they expect to miss out on their target. This is because of the ongoing fall out of the coronavirus pandemic.
Developers have expressed that the BSN is an underlying platform that hosts blockchain applications for state-controlled Chinese entities. Also, they describe its potential uses as a myriad. Stating that they could use it in the finance, legal, and telecommunications sectors, as well as other industries.
The educational arm of leading crypto exchange Binance, Binance Academy, revealed the establishment of a blockchain research institute in Shanghai on March 30.
Moreover, they plan the Lingang Blockchain Technology and Industry Research Institute to operate as a think-tank. And also as a talent hub for distributed ledger technology (VLT) innovation in China.
Binance’s blockchain institute intends to integrate blockchain with other developing technologies with an established foothold in the country to accelerate the DLT’s application. And this includes artificial intelligence, big data, and internet-of-things.
Furthermore, Don Tapscott headed the blockchain research institute. He will also play the role of the honorary dean of the organization.
Tapscott describes DLT as representing the second era of the Internet, the Internet of Value. Also, blockchain technologies will ignite the creation of innovative and productive organizations.
Helen Hai of Binance credited with spearheading the Lingang initiative. And she explained that the institute is committed to making the blockchain industry, driving blockchain research, and cultivating top blockchain talent.
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