Blockchain Based Services Network supported by the Chinese government

The blockchain project Blockchain-Based Services Network (BSN), supported by the Chinese government, is further expanding its global presence by setting up two new portals in Turkey and Uzbekistan.

Red Date Technology, the architect of the BSN project, has signed an agreement with the Turkish consulting firm Turkey China Enterprise Coordination Center (TUCEM) to launch two International BSN portals in Turkey and Uzbekistan at the end of December 2021.

TUSEM was founded in 2006 and has developed into an important center of economic cooperation between Turkey and China. The company will be the exclusive operator of two new BSN portals offering blockchain services (BaaS) in Turkey and Uzbekistan.

The new portals will enable blockchain developers in Turkey and Uzbekistan to build BaaS applications using a global BSN portal that supports major blockchains such as the Ethereum network, Algorand, Polkadot, Tezos, ConsenSys Quorum, Corda and others. This initiative aims to solve the major challenges related to developing blockchain applications, enabling blockchain interoperability and reducing development costs.

“Turkey has long played a role as a bridge between Asia and Europe, so it is very fitting that the first BSN gateway outside of Asia is being rolled out there,” said Yifan He, CEO of Red Date Technology.

Mehmet Akfırat, President of TUCEM and Head of BSN Turkey, said that BSN Turkey’s portal will contribute to social development and financial inclusion. According to the executive, both Turkey and Uzbekistan are heavily involved in blockchain development.

He told Cointelegraph that BSN had not selected any locations for its international portals. “As long as we have good local partners in some areas, we don’t care where they are,” said the executive, adding that BSN also speaks to partners from the US, Europe and Australia.

The CEO also noted that BSN does not operate its international portals. “Everything is built and operated by our local partners. They own the portals and use the BSN infrastructure to build the best performing BaaS site at a low cost, ”he said.

Current BSN started September a portal in Hong Kong and Macau that contributes to the development of more than 30 new blockchain projects. BSN too plans Established an international BSN portal in Korea in November.

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In January 2021, BSN announced plans to build a global digital payments network for central bank digital currencies (CBDCs) – following previous intentions to support stablecoin support for various services in the BSN ecosystem.

However, according to He, BSN is no longer involved in “a CBDC-related project” and has also abandoned its stablecoin plan.

“BSN will no longer integrate stablecoins. We moved this plan to another brand new project not affiliated with BSN. For BSN, we are focused on expanding our presence in different countries, ”he told Cointelegraph.