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:
