AsiaNet 83946

BEIJING, May 7, 2020 /PRNewswire=KYODO JBN/ --

China's interest in blockchain technology is about to take its next step as the

Blockchain-Based Service Network (BSN) comes into commercial effect on April

25. The aim of this network is to allow companies and software developers to be

able to plug into the BSN and build blockchain-based applications quickly and

affordably.

Photo: https://photos.prnasia.com/prnh/20200507/2796414-1

The Chinese government has envisioned a variety of use cases for blockchain

infrastructure network which include smart city applications, identity

registration and data storage solutions. As part of bringing this network to

life, Huobi China has been nominated as one of the four underlying framework

providers of BSN.

This BSN network is more than just one that will operate in China. It has been

proven to be effective and viable, as well as scalable in China, and has been

taken globally. Hong Kong and Singapore are more than 84 cities where the

network is already being tested.

According to a document shared with the public at the BSN Commercialization

Press Conference on April 25, BSN has signed up 128 public city nodes via its

telecom members and is hoping to deploy up to 200 more by the end of this year.

Huobi China has completed one of the frameworks that will be integrated into

BSN by July 2020. The public will soon be able to access the blockchain

framework supported by Huobi China.

Yuming Yuan, CEO of Huobi China, has spoken about the project and its grand

ambitions, as well as how he see Huobi China playing its part

"The fact that Huobi China was accepted as one of the four underlying framework

providers for BSN is a new milestone. We are recognized as one of the leading

enterprises in the blockchain industry and our abilities to research, land the

project, and be a close partner of building an integrated blockchain ecosystem

are much needed in the BSN program," Yuan explained.

This undertaking is like nothing ever before seen on a global scale. The

increased appreciation of blockchain in China has been reported numerous times,

but the implementation of the BSN is a manifestation of this ambition.

Source: Huobi China

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Caption: Huobi China to Play Pivotal Role in Development of BSN