China’s government-sponsored project Blockchain Services Network (BSN), is preparing to establish an NFT-compatible infrastructure in a move that will contribute to the development of the non-fungible token (NFT) industry in China.
Infrastructure to be called BSN-DDC (Blockchain Services Network-Distributed Digital Certificate) in short; It will provide the necessary interface for businesses and users who want to manage their NFTs to create their own user portals or applications.
BSN-DDC, in its name ‘digital certificate’ with the emphasis from NFTs linked to cryptocurrencies is separating.
According to the South China Morning Post, He Yifan, CEO of Red Date Technology, is concerned about NFTs in China, where the use of cryptocurrencies is prohibited. “there is no legal problem” told. In the infrastructure to be established by BSN can only be traded with Chinese yuan.
Red Date Technology, co-founder of BSN, in the development of the project China Mobile, China UnionPay and the China State Information Center, a government think tank. The company announced that it would cooperate with the Turkey-China Economic Twinning Center (TUCEM) for one of the new portals to be established.
The new NFT infrastructure to be established by the Blockchain Services Network, the foundation of which was laid in 2018 and has integrated with more than 20 blockchains so far, Ethereum and Corda It will integrate with 10 different blockchains, including
He Yifan told SCMP that the NFT industry in China will look forward in the coming years. how big can you grow drew attention.