One of the only state-recognized blockchain networks in China will now officially work with a major Ethereum development lab.
Ethereum for the Chinese public
Ethereum venture fund and development lab ConsenSys
announced Monday it would officially work with China’s Blockchain Service Network (BSN), as per a release. The partnership would see further development of the country’s public blockchain networks.
Together with the BSN—the open-source protocol layer that serves as a foundation for businesses to build Ethereum-based enterprise solutions—Ethereum-based enterprise and business solutions will now be available in over 80 different cities via BSN’s public city nodes throughout mainland China, the release noted.
Founded in 2015, ConsenSys develops decentralized software services and applications that operate on the Ethereum blockchain. Some of the firm’s most popular products are browser wallet MetaMask and blockchain node hosting service Infura.
The Blockchain Service Network, on the other hand, is a Chinese government-backed blockchain initiative that works on integrating public blockchain systems into the broader economy. It has been developed by several Chinese tech players and features local blockchain offerings such as Nervos Network, but is, as such, not owned by the Chinese government.
And it’s now getting an Ethereum boost. ConsenSys, as per the release, said its recently acquired Quorum service (purchased from JPMorgan last year) would see its first use case with the BSN. “BSN will include Quorum in BSN’s training programs in 2021 to substantially accelerate the enterprise adoption of blockchain technology and Ethereum-based solutions in China,” said the firm’s executive director Yifan He.
Joseph Lubin, the founder of ConsenSys, stated in the regard:
“ConsenSys Quorum is unique in that it spans the whole range of needs for enterprises in terms of privacy and permissioned features, yet is still compatible with the Ethereum mainnet.”
He added that local enterprises in China could ultimately benefit from the transparent collaborative business networks that the broader BSN ecosystem would provide, all while being private and yet scalable.
Scope of work
BSN’s cross-cloud and cross-chain infrastructure network seeks to allow developers to create and deploy decentralized applications (dApps) both conveniently and at a low cost across multiple different protocols.
Now, with the connections to ConsenSys, the latter’s “Codefi” applications—such as enterprise blockchain app Orchestrate, process management app Workflow, and token issuance program Assets—will be made available on the BSN marketplace for developers.
The use cases are significant. The BSN claims to have already deployed more than 2,000 blockchain applications across enterprises and government organizations in China, in the form of over 108 public city nodes in the country and eight nodes abroad.
And Ethereum’s enterprise prowess will now feature on that ride too.
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Source: Ethereum-based blockchain solutions to now feature in 80 Chinese cities