First major international project from China’s state-backed blockchain startup is ready to launch.

According to CNBC, China’s state-backed blockchain startup is planning its first major overseas expansion, as Beijing continues to prioritize the technology. The Blockchain-based Service Network (BSN) promotes itself as a “one-stop shop” for deploying blockchain …

blockchain

According to CNBC, China’s state-backed blockchain startup is planning its first major overseas expansion, as Beijing continues to prioritize the technology.

Blockchain

The Blockchain-based Service Network (BSN) promotes itself as a “one-stop shop” for deploying blockchain applications in the cloud, which can be costly and time-consuming otherwise. It attempts to connect several blockchains in order to assist businesses in implementing the technology.

BSN’s blockchain networks, on the other hand, do not work with cryptocurrencies because China has banned them.

According to proponents of blockchain technology, some corporate procedures can be made cheaper and faster. In addition, President Xi Jinping of China has personally approved the technology and declared it a national priority.

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