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China’s state-backed BSN pushes new public blockchain network unlinked to cryptocurrencies for international markets
- China’s Blockchain-based Service Network expects to launch a beta version of its Spartan Network for international markets on August 31
- Spartan Network moves BSN another step closer to becoming a one-stop-platform for developers of blockchain-distributed applications
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Why you can trust SCMP
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China’s Blockchain-based Service Network (BSN) is building a version of the popular distributed ledger technology that is designed for use in international markets and will not involve cryptocurrencies like bitcoin or ethereum.
A beta version of this new blockchain, called the BSN Spartan Network, is expected to be released on August 31, according to He Yifan, chief executive of Red Date Technology, at a BSN summit in Hong Kong on Tuesday. Start-up Red Date is BSN’s technical architect.
Officially launched in 2020, BSN’s mission is to develop a global public infrastructure to deploy and operate all types of blockchain-distributed applications. It aims to propel China into a leadership role in the industry this decade by making blockchain technologies easier and cheaper to use in businesses and institutions around the world.
Assuaging potential trust issues over the technology behind the Chinese-owned BSN’s infrastructure, He said everything is open source – denoting publicly accessible software that people can share and modify. “If you don’t trust us, check the code,” He said.
Red Date has met a lot of resistance in its development of Spartan Network because most public blockchain operators prefer to operate with cryptocurrencies, according to He in an interview.
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