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Blockchain-based Service Network

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The Blockchain-based Service Network (BSN) is a backend architecture in China for developing and managing blockchain-based applications,[1] and is split into Chinese and International uses.[2] BSN China, designed as the backbone of China's blockchain strategy,[3] was established in 2018 and launched in 2020 by the State Information Center under the National Development and Reform Commission of China, China Mobile, China UnionPay(state-owned payment and settlement provider), and a technology architect.[1][4] BSN International operates under the Singapore-based BSN Foundation.[2]

The BSN integrates both private and public blockchain frameworks and cloud service providers to build the underlying development and production environment,[5][6] where enterprises, governmental bodies, and financial institutions can build Blockchain-as-a-Service Systems and blockchain applications while being compliant with China's regulations of non-cryptocurrencies.[7][8] BSN International draws on Amazon Web Services data centers in Hong Kong, California, and Paris, while BSN China utilizes Chinese domestic cloud infrastructure provided by China Mobile, China Telecom, and Baidu AI Cloud.[1]

China's state-level decentralized identifier system, China RealDID, is deployed on BSN China.[9]

As a digital infrastructure along the Belt and Road Initiative, the BSN works on interoperability across blockchain systems[3] and develops a public IT system/multi-party system concept that uses blockchain as an operating system, including permissioned and permissionless blockchain infrastructures[10]，such as Ethereum, Hyperledger and EOS.[11]

In Sep 2022, BSN Spartan Network was launched in Hong Kong, targeting users outside of mainland China.[12]

On November 8, 2023, BSN was listed in a US House of Representatives proposed bill aimed at preventing US federal agencies from utilizing China-developed blockchain networks or engaging with related companies due to national security concerns.[13]

See also

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References

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  1. ^ a b c Raud, Mikk; MacKinnon, Eli (2022-03-08). "China's Digital Currency and Blockchain Network: Disparate Projects or Two Sides of the Same Coin?". DigiChina, Stanford Cyber Policy Center, Stanford University. Retrieved 2024-03-13.
  2. ^ a b V.S, Anoop; S, Asharaf; Goldston, Justin; Williams, Samson (2022-12-23). Blockchain for Industry 4.0: Blockchain for Industry 4.0: Emergence, Challenges, and Opportunities. CRC Press. ISBN 978-1-000-81244-2.
  3. ^ a b Coy, Peter (2021-03-24). "China's New Belt and Road Has Less Concrete, More Blockchain". Bloomberg. Retrieved 2024-03-14.
  4. ^ Hsueh, Roselyn (2022). Micro-institutional Foundations of Capitalism. Cambridge: Cambridge University Press. ISBN 978-1-108-47213-5.
  5. ^ Zhang, Xuzhuo; Lyu, Pengjv (2023-06-14). "Security analysis of blockchain-based service network". Applied and Computational Engineering. 6: 1127–1134. doi:10.54254/2755-2721/6/20230463. ISBN 978-1-915371-60-7. ISSN 2755-2721.
  6. ^ Areddy, James T. (2021-05-11). "Beijing Tries to Put Its Imprint on Blockchain". The Wall Street Journal. Retrieved 2024-03-14.
  7. ^ Haldane, Matt (2021-01-17). "What blockchain is, how it works and how China will lead the world". South China Morning Post. Retrieved 2024-03-14.
  8. ^ Vural, Turan (2022-09-01). "Web3 with Chinese characteristics: Finding China's solution for regulators, developers and users , Technology News - ThinkChina". www.thinkchina.sg. Retrieved 2024-03-13.
  9. ^ McConvey, Joel R. (2023-12-13). "China's project to verify real-name digital ID leans into national blockchain ambitions". BiometricUpdate.com. Retrieved 2024-03-14.
  10. ^ Dhuddu, Rajesh; Mahankali, Srinivas (2021-03-13). Blockchain in e-Governance: Driving the next Frontier in G2C Services (English ed.). BPB Publications. ISBN 978-93-90684-46-5.
  11. ^ Kaili, Eva; Psarrakis, Dimitrios (2021-06-29). Disintermediation Economics: The Impact of Blockchain on Markets and Policies. Springer Nature. ISBN 978-3-030-65781-9.
  12. ^ "HSBC, Hong Kong firms sign up for China's state-backed blockchain". South China Morning Post. 2022-09-06. Retrieved 2024-07-19.
  13. ^ "US lawmakers target Chinese blockchains in Web3 decoupling push". South China Morning Post. 2023-11-09. Retrieved 2024-03-14.
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