China s blockchain service network announces Cosmos integration Cosmos becomes the first public blockchain to be added to the China-only version of the Blockchain-based Service Network. 12852 Total views News
Tweeting on Monday, the Blockchain-based Service Network China’s blockchain infrastructure project announced that it had adapted Cosmos (ATOM) to its Chinese network. The Chinese BSN, unlike the international version, only supports permissioned enterprise blockchains.
Thus, the Cosmos integrated to the Chinese-only BSN is an Open Permissioned Blockchain, or OPB, version called Wenchang Chain. The hybrid was developed by Chinese blockchain startup Bianjie which is also the company behind the development of IrisNet.
First Open Permissioned Blockchain in China’s Blockchain-Based Service Network Launched by Bianjie
Shanghai based
Blockchain-based Service Network (BSN), according to the company.
WenChang blockchain is said to be powered by Cosmos’ interoperable blockchain ecosystem, WenChang is described as low-cost, user-friendly, open blockchain that allows developers to deploy and implement smart contracts.
WenChang is a city in Hainan province, a blockchain hub in China, and each open permissioned blockchain (OPB) will be named after a Chinese city.
The BSN network was initiated by the Chinese National Information Center, China Mobile Communications Corporation, China UnionPay Co., Ltd., and Beijing Red Date Technology Co., Ltd. China has long viewed blockchain development as of strategic importance.
27 Mar 19:32
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China’s Blockchain-based Service Network (BSN) has put plans in place to integrate central bank digital currency (CBDC) before the end of the year. The universal digital payment network (UDPN) is currently at its design phase, which will be completed in five years. However, the beta version will go live in the second half of 2021, […]