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NEO to Work With China’s Blockchain Service Network on a Permissioned Chain and NFT Adoption

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:

 

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