The China Blockchain Service Network, also known as BSN, was first announced in October 2019 and aims to provide a global public infrastructure designed to support private and public blockchain networks in interconnected cities.
According to BSN’s inception report, the project functions as an “information infrastructure” designed to foster the development of smart cities for the new digital economy. The report also clarifies that BSN’s goal is for cities to build one or more publicly accessible city nodes connected via the Internet to form a blockchain service network for physical city nodes across the country – and ultimately around the world.
It is expected to weaken over time around the world.
Despite its ambitions, it looks like China’s BSN has been making headway since its launch a year ago. For example, BSN officially became available for global commercial use in April this year. This initiative is supported by the Chinese Government Research Center, the State Information Center, and major players in the telecommunications, finance and software sectors in China.
Even in the pilot phase of BSN, the project reportedly attracted more than 2,000 developers who created applications for public water supply, product tracking and electronic billing. Since then, BSN China has launched an international website to attract more developers. The site also states that major cloud service providers including Google and Amazon Web Service are part of the initiative. BSN recently announced that three well-known public blockchains have joined the growing ecosystem.
However, progress does not always mean success, especially when it comes to global infrastructure with lofty goals such as BSN. Thus, research firm Forrester, in its forecast for the development of the blockchain business for 2021, showed that BSN in China will be “weakened” by the current geopolitical climate in the region.
Martha Bennett, Forrester’s lead analyst and co-author of the report, told Cointelegraph that BSN will continue to grow steadily in China. Bennett made it clear, however, that China’s ambition to become a truly global BSN network will not materialize in the short term:
Businesses will be wary of participating in initiatives that are closely linked to the Chinese state. There are also concerns about the level of Chinese government control over network access points. ”
The sanctions, combined with the desire of many countries to reduce dependence on China, will impact BSN’s global progress, Bennett said. While Bennett’s thoughts on BSN are only projections, recent statistics show that negative views on China have reached historic levels. In addition, the United States has shown a fear of technology controlled by the Chinese government, as evidenced by blocking requests allegedly linked to the Chinese government, such as TikTok and WeChat.
However, some disagree that China’s geopolitical climate will affect BSN’s development. Evan Hee, CEO of Red Date Technology, the privately held company behind BSN’s day-to-day operations and services, told Cointelegraph that the current geopolitical climate has not affected BSN’s development. “Half of our technology partners are from the United States and we work closely with Amazon Web Services and Google Cloud as global cloud partners,” he said. He further noted that BSN is now more than a technology project:
“The goal of BSN in short is to lower the barrier to the cost of blockchain technologies for everyone and create a better interoperability protocol to connect all chains at a very low cost and in an easy way.”
Specifically, the BSN white paper discusses the potential of an initiative such as BSN. The document states that blockchain will provide a resource sharing mechanism for smart cities, which will significantly reduce resource costs. The message says that publishers of blockchain applications can “use the unified public services offered by BSN and lease shared resources as needed. This significantly reduces costs for publishers and contributors. ”
BSN is running smoothly, He said, indicating that the units with a BSN testnet license were recently launched. “Ultimately, we truly believe that broadcasting data generated by blockchain technologies will transform and even redesign the Internet for better security and greater privacy,” he added. He also noted that the date on which BSN will have a global impact has not been set or even expected.
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It is also important to note that there are two versions of BSN: one is called “BSN China” and the other is called “BSN International”. He said BSN is still a simple network, but management is split between BSN China and BSN International.