On August 10, 2020, China plans to launch a particular Blockchain infrastructure that has its developers fully supported by the Chinese government in order to produce decentralized applications (dapps) to its fullest capacity. This newest Blockchain proposed by China is seen by many as its unprecedented move to take over the entire Blockchain scene around the world.
With that in mind, this latest development concerning China and six other prominent public chains all over the world reflect such thought. It has been reported that Tezos, Nervos, NEO, IRISnet, EOS, and Ethereum have all been integrated into this Blockchain Service Network (BSN) of China.
As a result, developers housed within the six Blockchains mentioned above will be given full support in their respective developments of dapps. Furthermore, they will also be enabled to run nodes more effectively by utilizing the bandwidth and data storage provided by the particular BSN’s multitude of top-notch data centers around the world.
The benefits entailed within this latest significant move of China will not be limited to its citizens alone. Users all over the world will also be granted access to the enterprise Blockchains and monetary data of China by way of cross-chain frameworks employed by the overseeing network and its mutually beneficial deal with UnionPay.
This unrivaled move of China will surely make major waves all over the industry. Now more than ever, it feels as if China has genuinely gotten the upper hand of the global Blockchain scene – and it would most likely keep a tight grip on it moving forward.