BSN featured 2

As we reported last week, China’s own Blockchain Services Network (BSN), was finally unveiled and opened to commercial use locally as well as globally on Saturday morning. Dubbed as “ChinaChain”, the BSN project was shown off amid pandemic Coronavirus, at a virtual press conference on Saturday in Beijing.

login lo2The Open Blockchain-based Service Network -BSN is a cross-cloud, cross-portal, cross-framework global infrastructure network used to deploy and operate all types of blockchain applications, said the official white paper.

The BSN aims to solve the current high cost problem of blockchain application development and deployment, providing a public blockchain resource environment for developers with the concept of Internet, and greatly reducing the costs of development, deployment, operation, maintenance, connectivity and supervision of blockchain applications, so as to accelerate the development and universal adaption of blockchain technology.

According the BSN Technical Whitepaper

The main goal of the BSN has always been to create a public infrastructure similar to that of the internet and to provide a “onestop shop” style blockchain-based service that integrates cloud resources, underlying frameworks, operating environments, key management, development SDK and gateway API. Just like building a simple website on the internet, developers can deploy and operate blockchain and distributed ledger applications (hereinafter “distributed application” or “DApp”) conveniently and at extremely low cost.

Moreover, just as websites deployed on the internet can mutually interact and communicate, all DApps on the BSN can also interchange data regardless of differences in their underlying frameworks, said the whitepaper.

The BSN network is financed and built by a consortium of China’s biggest telcos and banks, with nodes connecting 128 cities across China. The network will also have nodes in 7 places outside China – Paris, Sydney, San Paulo, Singapore, Tokyo, Johannesburg and California (no city was specified.) So one can presume that organizationsor individual developers wanting to do business in China can use the local onramps, assuming they follow local as well as BSN’s rules.

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The Network Operations Platform of the BSN is managed by dedicated technical teams from several BSN founding members including China Mobile, China UnionPay, Red Date Tech ans AWS. After adding cloud resources to the BSN, cloud service providers only need to maintain the hardware and networks.

As of the end of April 2020, the BSN has established or is in the process of establishing more than 110 domestic public city nodes and 8 international public city nodes, which are spread out on all continents except Antarctica. By the end of 2020, the BSN is expected to have nearly 200 public city nodes all around the world.

Speaking about India side, the country’s central bank, RBI, promoted National Payments Corporation of India (NPCI) has launched its permissioned blockchain-based platform, Vajra, in December last year.

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