BSN aims to integrate more than 100 public blockchains within a year

on Jul 27, 2020
  • The platform is set to support six public chains.
  • The CEO of Red Date Technology shared their aim to unify blockchains.
  • BSN will establish an offshore office to integrate with public blockchains.

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China’s state-backed Blockchain-based Service Network (BSN) is looking to support more than 100 public blockchains within a year as stated by Yifan He, the CEO of Red Date Technologies (one of the BSN’s founding companies). An article published on Bloomberg unveiled this news on July 26.

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Reportedly, on August 10, the platform will start offering six public chains; Ethereum, EOS, Tezos, Nervos, Neo and Irisnet.

According to He, leveraging Blockchain Service Network (BSN) tools and data storage ensures that blockchain developers can cut up to 90% of the costs of developing decentralized applications.

Matthew Graham, the CEO of Beijing-based Sino Global Capital opined that,

“It’s physically bringing the cloud resources needed online to power global blockchains…….BSN is the first and only project to bring this to blockchain in an agnostic way.”

As a former private equity investor, He is not new to cutting edge innovations. He started Red Date back in 2014 and went on to create relationships with top corporations like UnionPay, China Mobile, and the State Information Center. Under a national think tank of China’s top economic planning agency, the platform has so far attracted $30 million that has been spent building the unified blockchain ecosystem project.

Red Date Technology’s dream to unify blockchains

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The internet age exploded when it became easy for the average internet user to create a website.  This ease of use and access is the missing link in the blockchain ecosystem. Today, most blockchains are isolated silos and do not communicate with each other. Red Date Technology is aiming to change this situation.

Red Date Technology wants to create a one-stop hub for anyone looking to build Dapps. The service that started in April offers a Blockchain-based service that is similar to what platforms like Amazon Web Services and Microsoft Azure offer. The project’s potential is evident in the reception it has attracted. So far, the project has over 6000 users made up of individuals and institutions.

Speaking on the radical change that the platform brings, He said that,

“The internet took off only after it became cheap for everyone to build websites. Our mission is to put everything blockchain-related onto BSN’s platform.”

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Due to the increased distrust of China in the west, and China’s issues with crypto projects, the project will have an offshore branch that it will use for the integration of public chains. Yifan stated that the BSN will use its Hong Kong office to connect with its partners that have no affiliations in China. He added that the project will not be taking money from the Chinese government or state-backed companies.

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