China State-backed Blockchain Platform BSN to Launch First Major International Project in August

UTC by Tolu Ajiboye · 3 min read
China State-backed Blockchain Platform BSN to Launch First Major International Project in August
Photo: Shutterstock

The China blockchain network will expand its Spartan Network to the international audience as an open-sourced and crypto-free application.

The Blockchain-based Service Network (BSN) from China plans to launch its inaugural major international expansion initiative in August. The upcoming international project marks a major push for BSN as Beijing continues to focus on blockchain technology. In addition, BSN is looking to use this international scheme to demonstrate a position as a “one-stop-shop” blockchain application deployment in the cloud. Furthermore, the blockchain company intends to make the international product, dubbed the Spartan Network, open-sourced. BSN is doing this to ensure that anyone can inspect the code to prevent backdoors.

More on the Incoming Spartan Network

Eventually, the Spartan Network will consist of half a dozen public blockchains that do not operate with digital currencies. This is because the Chinese government already cracked down on crypto usage in the third quarter of last year. One of the public networks to make up the Spartan Network is a non-crypto version of the Ethereum blockchain.

The CEO of Red Date Technology, one of BSN’s founding members, spoke on solving the problem of high blockchain transaction costs. According to Yifan He, transaction payments on BSN’s blockchain will be in US dollars rather than Ethereum (ETH). He said:

“The purpose of this is to drop the cost to use public chains to very minimal so that more traditional IT [information technology] systems and business systems can use public chains as part of their systems.”

In addition to the benefit of reduced fees, using fiat currency to pay for transactions also underscores BSN’s non-crypto operational position.

“That is why we are working with other major public chain protocols to convince them the mainstream is non-crypto public chains.”

He also admitted that the absence of digital currencies in BSN’s product offering posed a challenge. Because of this, it might be difficult to properly run the BSN Spartan Network within the first two years. This is because, according to He, “most people in the blockchain industry only understand crypto.”

BSN’s core objective of deploying blockchain applications in the cloud is normally costly and time-consuming. However, the China-state-backed blockchain company believes that the synergy created by linking different protocols together will help businesses deploy the technology faster and better.

China Blockchain Service & Western Acceptance

Due to its links to the Chinese government, BSN and the Spartan Network will likely face intense scrutiny overseas. He also explained that the Spartan Network is adopting an open-source policy because of impediments caused by the company’s Chinese background. In addition, the Red Date Technology CEO also added that the initiative was already with several Western companies. Specifying BSN’s need for global acceptance, he said:

“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.”

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Tolu Ajiboye
Author Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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