One of the few government-recognized blockchain networks in China will now officially work with a large Ethereum development laboratory.
Ethereum for the Chinese public
The Ethereum Venture Fund and the ConsenSys development lab announced on Monday that they will officially partner with the Chinese Blockchain Service Network (BSN) release. The partnership would further develop the country’s public blockchain networks.
Along with the BSN – the open source protocol layer that serves as the foundation for businesses to build Ethereum-based enterprise solutions – Ethereum-based enterprise and business solutions are now being deployed in over 80 different cities via BSN’s public city nodes across the globe mainland China will be available, the publication noted.
News 📢 @ConsenSysQuorum will now be available on @bsnbase China’s blockchain-based service network (BSN), the country’s nationwide blockchain project: https://t.co/Yx9LlqZ3Bl
– ConsenSys (@Consensys) January 25, 2021
ConsenSys was founded in 2015 and develops decentralized software services and applications based on the Ethereum blockchain. Some of the company’s most popular products are the browser wallet MetaMask and the blockchain node hosting service Infura.
The Blockchain Service Network, on the other hand, is a blockchain initiative supported by the Chinese government that deals with the integration of public blockchain systems into the overall economy. Developed by several Chinese tech players, it has local blockchain offerings like Nervos Network, but is as such not obsessed from the Chinese government.
And now it’s getting an Ethereum boost. ConsenSys announced, according to the publication, that its recently acquired quorum service (which was bought by JPMorgan last year) would see its first use case with the BSN. “BSN will add Quorum to BSN’s training programs in 2021 to significantly accelerate the adoption of blockchain technology and Ethereum-based solutions in China,” said the company’s managing director, Yifan He.
Joseph Lubin, the founder of ConsenSys, said:
“ConsenSys Quorum is unique in that it covers the full range of corporate privacy and approved functionality needs while still being compatible with the Ethereum mainnet.”
He added that local businesses in China could ultimately benefit from the transparent collaborative business networks that the broader BSN ecosystem would offer while being private yet scalable.
Scope of work
BSN’s cross-cloud and cross-chain infrastructure network is intended to enable developers to create and deploy decentralized applications (dApps) conveniently and inexpensively across several different protocols.
With the connections to ConsenSys, the latter’s “Codefi” applications – such as the enterprise blockchain app Orchestrate, the process management app workflow and the token issuing program Assets – will now be made available to developers on the BSN marketplace.
The use cases are significant. The BSN claims to have already deployed more than 2,000 blockchain applications in companies and government organizations in China in the form of over 108 public city nodes in the country and eight nodes abroad.
And Ethereum’s entrepreneurial skills will now come to fruition on this journey as well.
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