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China’s BSN to launch overseas public chain without crypto support

Blockchain

forkast.news 24 May 2022 07:57, UTC
  
Reading time: ~2 m

China’s state-backed infrastructure Blockchain-based Service Network (BSN) announced on Tuesday that it is preparing the launch of BSN Spartan on Aug. 31, a new international network for non-cryptocurrency public chains.

See related article: Resist the temptation on NFTs, Chinese state-backed developer says

Fast facts

  • “We’re not against public chains, but we’re against crypto,” BSN developer Red Date Technology CEO Yifan He said at a company event in Hong Kong.
  • The Spartan network will be open source and made up of a number of public chains, including Ethereum, and will not support any cryptocurrency operations, he said.
  • While the Spartan network is meant for fiat transactions, cryptocurrency and stablecoin USDC will be accepted for gas fees (transactions fees), according to He.
  • As for the domestic market, the company has launched the BSN-DDC network, consisting of over 10 open permissioned blockchains, a non-cryptocurrency infrastructure often used for non-fungible tokens (NFTs), or locally referred to as “digital collectibles.”

See related article: China’s BSN to set up foundation in Singapore to fuel international expansion


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