Yifan He, founder of startup Red Date Technology and one of the founders of Blockchain-based Service Network (BSN) , told CNBC that the network plans to launch the “BSN Spartan Network” project in August 2022.
BSN is known to be backed by the Chinese government and is now planning to expand its business overseas.
BSN has called itself a “one-stop-shop” for cloud-based blockchain applications that will facilitate the time-consuming process of connecting different blockchains that adapt technologies for business.
BSN says the network will help reduce costs and speed up business processes. Chinese President Xi Jinping approved the technology and called it a technology of national importance.
Yifan He acknowledges that the lack of cryptocurrency is part of the problem in the company’s product offering. Promoting BSN in the early years on the market will be difficult because the players in the industry only accept cryptocurrencies.
BSN Spartan Network will be a dozen blockchains without cryptocurrencies. Among them is one of the versions of the Ethereum blockchain.
The CEO added that he is aware of the increased scrutiny of the network overseas due to the connection with the Chinese government. The company is openly supported by the State Data Center (SIC), administered by the National Development and Reform Commission of China (NDRC). The project is also supported by the telecommunications company China Mobile.
“That’s why when we launch in August, we will open source immediately. And we work with many Western companies,” Yifan said, confirming that users of the service will be able to check the information on the project to make sure there are no backdoors or other interference by the Chinese government in the code.
