Credit: TMTPost

BEIJING, July 19 (TMTPOST) – Blockchain-based Service Network (BSN)’s maiden backbone project in Beijing was launched on Friday by officials from the Daxing District government and the State Information Center (SIC) during top media group TMT’s month-long T-Edge X event.

The project, which will be jointly undertaken by ChainDD and Six Photon Technology Ltd., also marks the BSN’s first project for commercial use.

Gao Niandong, Deputy Director of the Daxing District Government governing the southern suburbs of Beijing, said that the project is set to have a far-reaching impact on the construction of the “new digital infrastructure and the growth of the digital economy”. He also pledged to make efforts to implement the Beijing Municipal Government’s innovation policies.

He also expected TMTPost’s “One world in tech”-themed month-long event to accelerate the transformation of ideas to the reality and facilitate the fast growth of technology firms.

Shan Zhiguang, the Director of the Information and Industry Department of SIC and Chair of BSN Development Alliance, noted that the BSN is going to provide high-quality customized tech support and a “verifiable, reliable and scalable” infrastructure network for the development of smart cities and the digital economy.

“Our goal is build cross-region and cross-institution global operating platform to facilitate the development and deployment of blockchain technologies,” said Shan.

He also pointed out that the BSN is China-owned intellectual property and also the world’s largest blockchain services network. “It will lay a foundation for China’s global economic strategies,” he added.  

Credit: TMTPost

The BSN is designed to help gobal clients develop and operate blockchain applications at low costs. It is also designed to accelerate the development of smart cities and the digital economy. China Mobile and China UnionPay have been playing a major role in the creation of the BSN.

The BSN Alliance, initiated and launched by the State Information Center in October 2019, is dedicated to serving companies and governments, lowering high costs of the development, deployment, operation, interconnectivity and regulation and accelerating the commercial use of blockchain technologies. It is dubbed as the Belt and Road Initiative (BRI) in the field of blockchain and the digital economy.

Meanwhile, China has been actively working on its digital central bank currency. According to a report by Cointelegraph, Starbucks and Mcdonalds were already testing the digital reminbi (RMB).

With the participation of China’s top three telecommunications carriers and various cloud servers, BSN has built over 80 nodes in cities across China. By the end of 2020, it is expected to have nodes in over 200 Chinese cities and eight nodes outside of China. 

The project in Daxing will serve as the entry portal to Beijing. Looking forward, a multiple-node backbone network with three centers, namely the incubation center, the training center and the operational center, will be built in Beijing.

China is a champion in blockchain-related patents, according to the World Intellectual Property Organization. Blockchain technology is not just about Bitcoin. It can be used to verify all kinds of transactions, ranging from item traceability and electronic invoices to copyright protection and supply chain management.

Trailblazers: ChainDD and Six Photon  

Also on Friday, Zhao Hejuan, the founder of ChainDD and founder and CEO of TMTPost, and Gan Chun, the CEO of Six Photon, accepted a plaque from Shan, the official with China’s proponent of BNC, marking the project's official rollout.

“It is an initial all-out endeavor for ChinaDD to jointly launch and hold a stake in Six Photon and explore blockchain services,” Zhao noted. “In the future, ChainDD and Six Photon will endeavor to empower the blockchain infrastructure and realize its business value,” she added.

Gan said Six Photon, which released the first commercial product of the BSN Alliance, has been working on technological iteration and case replications. As an undertaker of the backbone project in Beijing, the company is committed to providing key technological support, engaging in daily operations and maintenance and promoting applications.

ChainDD Finance (Beijing) Information Co. Ltd is a blockchain-focused news, financial data and technological solutions provider to global clients. It has offices in Beijing, Tokyo, New York, San Francisco and Hong Kong. It is also a core member of the media commission of the BSN Alliance.

ChainDD launched its New York-based subsidiary ChainDD Inc. in September 2018, aiming to provide information and fintech services to English-language users through ChainDD App or at PCs.

Six Photon is a comprehensive service provider in blockchain solutions, R&D and digital advisory. It has offices in Beijing, Chengdu and New York City. In April 2020, it became a key member of the BSN Alliance’s technology team to provide customized solutions and one-stop blockchain deployment for governments, mid-sized and large state-owned enterprises and private companies.