NEO, a project named “Chinese Ethereum” has partnered with Blockchain-based Services Network (BSN) to push blockchain’s mainstream adoption forward.
On July 22, it has been reported that high entry barriers and fragmented developer experiences are major barriers that are preventing the mass adoption of blockchain technology.
However, to solve these problems, BSN aims to provide a public repository of blockchain resources, as the network will also try to reduce costs related to development, deployment, operation, maintenance, connectivity, and application management.
As one of the first public blockchains supported by the network, NEO says that it will leverage BSN’s global public city nodes and portals to help developers overcome the hurdles and challenges that prevent mass adoption.
NEO and China’s Blockchain Service Network unite to push blockchain adoption forward https://t.co/y8rZzgkGe9 — Cointelegraph (@Cointelegraph) July 23, 2020
It has been analyzed that leading enterprises such as the Chinese State Information Center, China UnionPay, and China Mobile will also join the blockchain union to accelerate adoption.
Da Hongfei, the Founder of Neo, said:
“Blockchain adoption has accelerated dramatically within the past few years[…] we look forward to overcoming the challenges facing mainstream blockchain while fostering cross-industry collaboration.”
In 2014, NEO was created under the name “Antshares” and then the project rebranded in 2017 by shifting focus to digital assets and “smart economies.”
NEO also acts as a platform for other blockchain projects, such as Ontology (ONT).
Thus, the BSN split into two separate entities after a disagreement about the integration of public blockchains.