China to Launch its Blockchain Network in April
Main page News, China, Blockchain

China plans to deploy the Blockchain-based Service Network (BSN), its national blockchain network, in April, local news outlet Sina Finance has reported.

The network testing phase started 6 months ago, on October 15.

The project, which is supported by the Chinese government's think tank State Information Center (SIC), aims to provide a reliable and scalable infrastructure to enable the development of new blockchain projects, smart cities and a digital economy.

Tang Sisi, deputy head of the Smart City Development Research Center of the Chi­na’s State In­for­ma­tion Cen­ter (SIC), unveiled the news during the China Urban Regulation Innovation Forum.

The network has been developed jointly by SIC, Chinese telecom giant China Mobile and payment card network China UnionPay.

Chinese president Xi Jinping said back in October last year he wants the country to become a leader in the blockchain industry. These statements were received with great enthusiasm by the crypto community in general, as in spite of the fact that digital currencies are banned in the country, blockchain adoption is good news for the industry.

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