(Duplicate) Chinese-based BSN to Launch First International Expansion in August: CNBC

Chinese state-backed blockchain company Blockchain-based Service Network (BSN) is reportedly to launch an international project overseas within serval months, according to CNBC citing people with matter.

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The expansion will be named as ” BSN Spartan Network”, which is expected to begin in August, according to CNBC report, citing Hong Kong-based startup Red Date Technology’ CEO Yifan He, one of the founding members of the BSN.

The official website introduces the BSN as one-stop shop for DApp developers to deploy and manage any permissioned or permissionless blockchain applications. Aiming at helping business to adopt this top-notch technology by connecting with various blockchain together.

According to report, the Spartan Network will “eventually be made up of half a dozen public blockchains that do not operate with cryptocurrencies.” One of those will be a non-crypto version of the Ethereum blockchain when the project is ready to launch.

Yet, no official announcement to be confirmed at the time writing.

The BSN is co-founded by the State Information Center (SIC) which sits under China’s powerful National Development and Reform Commission (NDRC) and China Mobile, a state-owned telecommunications company.

As the organization is considered highly connected with the Chinese government, the public concern data access would be in bleach of privacy. He admitted the background of the organization would be a challenge, but he emphasized that users are eligible of examining the code behind the project, making sure that no backdoor access for the the Communist party-led government:

 “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.”

Chinese crackdown on crypto trading and mining activities

Since China implemented strongest crackdown measures against crypto mining and trading activities last year, the BSN, therefore, do not adopt crypto, but using fiat money in US Dollar to pay for transaction fees instead, according to He.

Why does it matter?

Chinese President Xi Jinping proposed to explore blockchain technology to “optimize digital economy” in 2019.