China’s Blockchain Service Network Splits Into Two Separate Entities Over Disagreement About Public

China’s Blockchain Service Network (BSN) has split into two separate entities after a disagreement about the integration of public blockchains.

It has been reported that China’s consortium was founded to promote the advance of blockchain technology in the country.

However, it is splitting into two independent entities: BSN-Chain and BSN-International, as BSN-International will be headed by one of the original members of BSN that happens to be a private company Red Date.

A source said that this rift was caused by the “pushback from its core, state-owned members on the public chain integrations”. The consortium is led by State Information Center, the China Mobile Communication Corporation, and China Union Pay, all state-controlled entities.


China’s Blockchain Network has split after pushback from state entities Reports @mmviii_2008 #China #blockchain https://t.co/NSpEFWDqCM — Cointelegraph (@Cointelegraph) July 21, 2020

Also, the source noted that the original plan intended to add five blockchain networks to BSN – Ethereum (ETH), EOS (EOS), Nervos (CKB), NEO (NEO) and Tezos (XTZ). They further indicated that this pushback has caused delays and uncertainty about future deployment.

As per the report, although the two entities are going to be independent, five of the BSN-China nodes will be connected to BSN-International.

Thus, at the same time, it notes that these five nodes would have to fully comply with the appropriate local laws and regulations.

Source: Cointelegraph | Image: Pixabay

#BlockchainServiceNetworkBSN #CryptoNewsPoint #china #DigitalNotice #publicblockchain

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