Quick Intake
National Blockchain Network by CHINA – “Blockchain bases Services Network“
Let’s see a use case where entire country services are provided with the deployment of Blockchain.
Soon china launched its Digital Currency, it has come up with the implementation of its Blockchain-based Services Network. A Complete Transparent way of Providing Governance and Citizen Services via Blockchain
The BSN will be a new internet protocol to allow a more efficient way to share data, value, and digital assets in a completely transparent and trusted way between anyone who wants to be a node on the network.
The Network is supported by State Information Center (China’s top-level government policy and strategy think tank affiliated with the National Development and Reform Commission), China Mobile, China Unionpay A credit cards issuing Company, and Red Date Technologies (the main blockchain architect for the BSN).
The network covers 100’s of Cities with rapid expansion plans in the Near Future.
The service is scheduled to launch on June 25.
Happy Reading…
This week, China will officially launch a major new blockchain initiative called the Blockchain-based Services Network (BSN). The BSN is a critical part of China’s national blockchain strategy that was announced by President Xi in late November 2019, but went largely under the radar as the simultaneous announcement of China’s digital RMB currency, called the DCEP, swept the world by storm.
Only recently has the Western media recognized the significance of the BSN, which sees its mainland commercial launch April 25. The portal’s global commercial launch is scheduled for June 25.
Essentially, the BSN will be the backbone infrastructure technology for massive interconnectivity throughout the mainland, from city governments, to companies and individuals alike. The network will also form the backbone to the Digital Silk Road to provide interconnectivity to all of China’s trade partners around the globe. The BSN will be a new internet protocol to allow a more efficient way to share data, value and digital assets in a completely transparent and trusted way between anyone who wants to be a node on the network.
The main BSN founding consortia partners are the State Information Center (China’s top-level government policy and strategy think tank affiliated with the National Development and Reform Commission), China Mobile (China’s largest national telecom with over 900 million subscribers), China Unionpay (the world’s top payment and settlement provider with eight billion issued credit cards), and Red Date Technologies (the main blockchain architect for the BSN).
The BSN will catalyze the globalized digital economies of the future.
China Mobile is focused on the IT infrastructure deployment and has been accelerating the rollout of 5G and cloud adoption on the mainland. The BSN has developed cloud management technology that will allow multiplexing to compute on top of a flexible multi-cloud architecture in a very resource-efficient way.
Cloud providers under BSN’s multi-cloud management services already include AWS, Microsoft Azure, Google Cloud, Baidu Cloud, China Unicom, China Telecom and China Mobile.
The scale of the BSN is breathtaking, with a hundred city nodes across China at launch and participation by all three major national telecoms and major framework providers on the mainland.
The central government has developed a master top-down plan to connect all the major cities in the country, rolling out to 200 cities over the next year and rapidly to all 451 prefecture-level cities thereafter.
As I write this article, the world’s largest scaled blockchain testnet is imminently preparing to launch. There are various blockchain-as-a-service applications being developed simultaneously, many of which are already being deployed by city governments to provide services for citizens across the mainland ranging from paying utility bills to registering company credentials.
As example, the Hangzhou government has launched a blockchain pilot for unified digital identity, for faster authentication of individuals using government services.
The Chinese central government sees blockchain as the critical next-generation IT infrastructure to build future smart cities, connecting cryptographically secure databases linked by 5G to scalable cloud and data management infrastructure such that big data/AI analytics can efficiently run on top.
