BSN’s offering is aimed at companies that need a working blockchain but can’t or won’t install new servers to run it. It deploys blockchain applications in the cloud for a low cost, allowing startups to save on servers and engineers. Additionally, it solves the problem of interoperability, as all networks launched on BSN can work with each other.
BSN doesn’t work with any cryptocurrencies, complying with the countrywide crypto trading and mining ban. It operates 28 blockchain frameworks and is reportedly involved in developing the digital yuan, the country’s CBDC. The Spartan Network by BSN will consist of about six public blockchains, including one Ethereum clone with gas fees paid in dollars instead of ETH.
The company behind the BSN is a Hong Kong-based startup Red Date Technology. The project is also backed by the state-owned telecom giant China Mobile and State Information Center (SIC). Such close ties with the Chinese government make prospective customers concerned about state surveillance. However, Red Date Technology CEO Yifan He said in his interview with CNBC that BSN would allow the third-party auditors to inspect the code.
“People will say BSN is from China, it is dangerous. Let me emphasize, BSN Spartan will be open source … we will not access anything from our end.”
