China’s national blockchain platform, the Blockchain-based Service Network (BSN), has been launched and will allow worldwide use. Chinese government officials and other key people in Chinese sectors made the announcement in a meeting on April 25.
The BSN platform aims to help organizations all over the world, to develop and launch their own blockchain applications with ease. BSN also significantly reduces the cost of deploying these blockchains. Typically, developing a regular consortium blockchain would cost almost RMB 100,000, over $14,100. With the BSN, the price plummets to between RMB 2,000 and RMB 3,000, between $282 and $423.
Present at the meeting was the Director of the State Information Center Liu Yunan, Vice President of China Mobile Communications Corporation Li Huidy, and China UnionPay Co. Ltd Executive Vice President Tu Xiaojun. Party Committee Secretary Ye Zhenzhen was also at the meeting.
China began beta-testing the BSN on October 15, 2019. Since the beta-testing started, over 2,000 blockchain developers have worked on the platform. The blockchain applications created range from electronic invoice documents to charitable activities.
According to the Blockchain Service Network Development Alliance Chairman Shan Zhiguang, there are 128 public nodes on the network. Of these, 76 are in China, eight are in other cities across six continents, and 44 are under construction. He says that the BSN hopes to have a minimum of 200 nodes before 2020 runs out.
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