China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs).
See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China
- The new chain serves users on the BSN-DDC network, an infrastructure that allows NFT issuance in China without involving cryptocurrency transactions.
- Based on EOS, Zhong Yi Chain adds to a growing number of technical options on BSN open permissioned blockchains for developers to build decentralized applications.
- China Mobile is actively involved in the formation of BSN, serving as one of its four founding members.
- Unlike cryptocurrencies, China has not banned NFTs.
- While state-owned media outlets have issued warnings against the speculative nature of NFTs, some have issued their own digital collectibles.
See related article: BSN partners with INDUSTRIA, eyes UK market