China’s Blockchain Service Network (BSN), which is led by State Information Center (SIC), a Chinese government policy making think tank is poised to launch globally on April 25. Essentially a blockchain hosting platform for SME’s and individuals, BSN will facilitate companies and individual developers to build blockchain-based applications as easily as assembling Lego sets.
BSN was launched in October last year, jointly by the SIC, China Mobile, China UnionPay and other institutions.
With BSN, China is aiming to improve the layout of the blockchain sector and serve the development of smart cities and the digital economy. Notably, China files most number of blockchain patents in the world, more than in the USA, according to the report by Hard Fork, which pulled the data from the World Intellectual Property Organization’s websites.
The latest white paper penned by the BSN Alliance, led by the government agency, several state-owned entities and blockchain firms, announced — “As the BSN takes hold in worldwide countries, it will become the only global infrastructure network that is innovated by China, whose gateway access is controlled by China.”
In October, when BSN was launched, the internal testing by the Chinese government envisioned a variety of use cases including smart city applications, which use sensors connected to the internet to collect data and glean insights for managing public resources; in particular, the BSN alliance mentioned energy conservation. It also listed identity registration and data storage as opportunities for BSN.
It is to be noted that BSN is not a blockchain protocol but a centralized platform that would allow developers to plug in and code by choosing from several enterprise blockchain protocols or public chains. The goal is to reduce their operational costs, improve flexibility and provide better regulatory oversight, according to the white paper.
BSN hopes to provide a more accessible alternative to private blockchain platforms such as Alipay and Baidu’s. News outlet Jinse reports that it will allow SMEs, individuals, and students to develop their own businesses, with only 20% of the operational costs of conventional blockchain services. The founding members hope to open-source the BSN once the current testing phase is complete.
Last week, Chinese government joined hands with several tech giants in the country to form a national blockchain committee called the National Blockchain, and Distributed Accounting Technology Standardisation Technical Committee that aims to set the standard for blockchain adoption in the Chins.
The committee includes the China’s tech giants including Tencent Holdings, Huawei Technologies, Baidu, among few others. The committee would also include 70 researchers and experts with the aim of setting a standard for the country’s blockchain adoption.
Via ~ Coindesk