China will see one of their only state-recognized blockchain networks, Blockchain Service Network, to work with ConsenSys, a prominent Ethereum development lab officially.
A news publication on cryptoslate claimed that ConsenSys, which is an Ethereum venture fund and development lab, would officially work with China’s Blockchain Service Network (BSN). This was announced on Monday.
The partnership of ConsenSys, Ethereum venture fund, and development lab, and China’s Blockchain Service Network (BSN) would provide ample development in the public blockchain networks that are based in China.
It will be possible due to the BSN, open-source protocol layer, which is the foundation for businesses designing Ethereum-based enterprise solutions. The announcement also added that Ethereum-based enterprise and business solutions could be availed in more than 80 cities in China.
Libre Informacion is a portal that is based on financial markets; marketing online had this to tweet on Ethereum-based blockchain solutions to now feature in 80 Chinese cities.
It can be done through China’s Blockchain Service Network (BSN) public city nodes that are present in the country. ConsenSys, which is an Ethereum venture fund and development lab, was founded in 2015.
They specialize in the production of decentralized software services and applications. These applications can be used on the Ethereum blockchain. ConsenSys’s most famous product would be the browser wallet MetaMask.
Besides, Infura is the blockchain node hosting service. China’s Blockchain Service Network (BSN) is a government-backed project, which integrates public blockchain systems. BSN was designed by many Chinese-based technology firms such as Nervos Network, which is a local blockchain offerings.
However, they are not owned by the Chinese government. ConsenSys has recently acquired Quorum service from JPMorgan last year. Yifan He, the executive director of ConsenSys, said that China’s Blockchain Service Network (BSN) would include Quorum to enhance the adoption of blockchain and Ethereum-based solutions.
The founder of ConsenSys, Joseph Lubin, said that Quorum is unique because it can span the whole range of blockchain enterprise for privacy features. Besides, it is immensely embedded with the Ethereum mainnet.
Today, China’s Blockchain Service Network (BSN) has deployed more than 2,000 blockchain applications in government organizations in the country. It was possible with placements in more than 108 public city nodes and installing eight nodes abroad.