China’s Blockchain Services Network launches international investment project

According to CNBC, the state-sponsored Blockchain Services Network (BSN) of China will launch an international project this summer, specifically in August.

Spartan Network will not operate in crypto currency, but instead the transactions will be settled in US dollars. This is also not something that is too surprising to consider based on Beijing’s fast-moving view of cryptocurrencies.

What is Blockchain Services Network (BSN)?

BSN is described as “a cross-cloud, cross-portal, and cross-framework global public infrastructure network.”

Spartan Network was introduced and launched in October 2019, Spartan Network will provide developers with a space to run dApps without building strings from scratch.

The advantage of doing this is having access to permissionless and permissioned blockchains. All integrated through “BSN’s cross-chain communication hub”. This will also reduce and save costs, time and effort.

“For a 3-peer Fabric DApp with 10 TPS and 10GB storage, it costs only about 20 dollars per month to deploy on the BSN. For public chain services, it only costs as low as 20 dollars per month to access all public chain nodes on the BSN with 40K requests per day.”

Blockchain Services Network CEO – Yifan He added: “The purpose of this is to drop the cost to use public chains to very minimal so that more traditional IT (information technology) systems and business systems can use public chains as part of their systems.”

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