Yesterday it was
reported that China has officially released a nationwide blockchain service network (BSN) or blockchain hosting platform. The system was built by UnionPay, the State Information Center (SIC), China Mobile, and three other organizations to support the digital economy and smart cities. Until March 2020, it will be in beta and all BSN content and resources will be offered for free.
The SIC is a government think tank for policymaking and economics, while China Mobile is a state-owned telecoms firm which boasts the world’s biggest network by subscribers. State-controlled
UnionPay is the country’s card issuer, is larger than Visa and Mastercard, and has multiple blockchain initiatives.
They released the BSN with Red Date Technology, Smart Government, and China Mobile’s Design Institute (CMDI) subsidiary. Red Date is a smaller firm compared to the state bodies, focusing on software, digital wallets, and settlements.
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