BSN is a one-step destination for deploying all blockchain applications in the cloud, otherwise, it is quite time consuming and costly. BSN helps to connect different blockchains together and helps businesses to deploy the technology easily.
China is now trying to outdo the international market by pushing its state-backed blockchain firm – Blockchain Services Network (BSN). Which is personally supported by Chinese President Xi Jinping.
China-based Red Date Technology, one of BSN’s founding members, is planning to launch its first blockchain project, the Spartan Network, this year. Red Date CEO Yifan confirmed the news by speaking to CNBC.
A large number of companies are now adopting this revolutionary blockchain technology, providing a wide range of applications for companies on bitcoin and other cryptocurrencies. Since BSN cannot operate cryptocurrencies directly, the Chinese government has issued an outright ban on them. Blockchain proponents say that BSN will further accelerate the pace of inclusion of businesses on the blockchain.
The Spartan network also includes half a dozen public blockchains that do not work with digital assets, one of which is a non-crypto version of Ethereum. And the fees for these blockchain-based transactions can be paid in US dollars instead of Ether (ETH).
Red Date CEO Yifan said that:
“It aims to greatly reduce the cost of using public chains so that more traditional IT systems and business systems can use public chains as part of their systems.”
China link problem
Further information from Yifan about the problems associated with BSN’s overseas expansion is that it originated from China. quote:
“People will say that BSN is from China, it is dangerous. I must emphasize, BSN will be Spartan open source, we will not access anything on our side. That is why we are working with other major public chain protocols so that they can be understood as mainstream non-crypto public chains.”
Furthermore, he says that not having crypto will be a big challenge for BSN, and it is quite difficult to move the Spartan network forward in the first or second year. Most of them understand crypto a lot from the blockchain industry.