China start implementing a new project blockchain named Blockchain-Services Network (BSN), which is the main element of the national blockchain strategy, which the president of the country announced last fall.
Although at first this undertaking was quite coldly received, today many Western entities seem to appreciate its potential.
The platform's world premiere is scheduled to take place at the end of June.
Goal and mission
According to the assumption, Blockchain-Sercvices Network BSN is to be the foundation for the entire powerful infrastructure of interrelated entities, and here we are talking about both municipalities, enterprises and private persons that operate on the continent.
It will also be based on the new network Digital Silk Road, which is to ensure efficient communication between worldwide trading partners.
What is Blockchain-Sercvices Network BSN?
BSN is a new internet protocol providing effective solutions in the field of sharing data, values and digital resources, making this process fully transparent.
The following entities became BSN's partners: State Information Center, China Mobile, China Unionpay and Red Date Technologies.
In addition, an innovative one is being implemented as part of BNS cloud management technology, enabling cost-effective multiplication of cloud architecture calculations.
The BNS cloud service providers have already been: AWS, Microsoft, Azure, Google Cloud, Baidu Cloud, China Unicom, China Telecom and China Mobile. Thanks to the new solution, companies will gain easier and cheaper access to services in this category.
China excels in blockchain
BNS coverage can be considered highly impressive - the network has hundreds of urban nodes in China, and its main telecommunications operators in the country are involved.
According to the government's plan, the new project will connect all major cities. In addition, various types of applications are being developed as part of the network, through which citizens will be able to provide various services, such as paying utility bills.
For the Chinese government, blockchain is slowly becoming the key solution used for building smart cities.
It will also enable vertical integration of cloud computing and communication 5G, implementation IoT, development artificial intelligence and a whole range of other improvements.
So, in connection with BSN, there are really high hopes - the project is supposed to authorize world trade and conducting business activity, all above ideological divisions that arouse mutual distrust.
Expanded access to tools ensuring efficient cross-border trade, investments and strengthening international cooperation is of great importance especially now in the age of pandemics COVID-19.
This digital online opportunity is now of paramount importance, and BSN is to become the solution that will unite globalized digital economies.