China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore.
Fast facts
- Red Date Technology, the company China tapped to manage its BSN, announced on Monday at its conference in Hangzhou — a technology hub where Alibaba is headquartered — that it is setting up a nonprofit organization called BSN Foundation in Singapore, with full establishment expected in October.
- He Yifan, CEO of Red Date, said there will be five founding directors for the foundation and Red Date will be one of them. The other four directors will not be from China, he said.
- The foundation will act as a cooperative platform that manages BSN International’s future projects’ entries, technical roadmaps and codes.
- China has been actively pushing ahead with the overseas expansion of the blockchain infrastructure. BSN International entered a soft launch stage for its portals in Hong Kong and Macau on Sept. 1, and an official launch event will likely take place in early October, said Tim Bailey, vice president of global sales at Red Date Technology, in a previous interview with Forkast.News.
- Just earlier this month, Red Date announced a partnership in South Korea with MetaverseSociety, which will exclusively operate a BSN portal offering blockchain-as-a-service in Korea, with the portal expected to officially launch in November.
- In collaboration with a partner in Europe, Red Date is also working on deploying two portals — one in Turkey and the other in Uzbekistan — later this year, Bailey said.