BSN is a one-step destination to deploy all blockchain applications in the cloud, otherwise, it is quite time-consuming and costly. The BSN helps to link different blockchains together and helps businesses to deploy the technology easily.
China is now looking to push the international market with a push to its state-backed blockchain firm – Blockchain Services Network (BSN). which is personally supported by the president of China, Xi Jinping.
Red Date Technology of China-based in Hong Kong, One of the founding members of BSN, is planning to launch its first-ever blockchain project, Spartan Network, this year. The CEO of Red Date, Yifan has confirmed the news by speaking to CNBC.
A huge number of companies are now adopting this revolutionary blockchain technology, this provides a wide range of applications for the companies over bitcoin and other cryptocurrencies. As BSN cannot operate cryptocurrencies directly, since the government of China has issued an outright ban on them. BSN will further speed up the onboarding of businesses to the blockchain, say, blockchain proponents.
Spartan Network also involves half a dozen public blockchains which do not operate with digital assets, one of such is a non-crypto version of Ethereum. And the fees of these Blockchain-based transactions can be paid in U.S Dollars instead of Ether(ETH).
The CEO of Red Date, Yifan Said that:
“The purpose of this is to drop the cost to use public chains to very minimal so that more traditional IT systems and business systems can use public chains as part of their systems.”
The China Link is the Problem
Yifan’s further briefing about the problems associated with BSN’s overseas expansion is that it originated from China. Quoting:
“People will say BSN is from China, it is dangerous. Let me emphasize, BSN Spartan will be open source, we will not access anything from our end. That is why we are working with other major public chain protocols to convince them the mainstream is non-crypto public chains.”
Adding to this he says, not having crypto would be the major challenge for BSN, and it is quite difficult to push the Spartan Network in the first or second year. Most of them from the blockchain industry understand crypto much.