China continues its foray into the field of cryptocurrencies, albeit in a way like no other. The country launched its very own Blockchain Service Network (BSN) and is now teaming up with NEO to create a permissionless chain.
- According to a press release shared with CryptoPotato, the China-native NEO ecosystem will be creating a permissioned chain called Jiuquan.
- As per the report, this will be one of the ten blockchains that will form the Chinese blockchain-based ecosystem.
- It’s worth noting that China has previously announced that it will have its own take on the NFT industry, although non-fungible tokens will be based on the Distributed Digital Certificate (DDC) standard).
- Speaking on the matter was Yifan He, CEO of Red Date Technology, as well as the Executive Director of the BSN Development Association, who said that: