HomeNewsChinese Blockchain Services Network expands into Uzbekistan and Turkey, going global
Chinese Blockchain Services Network expands into Uzbekistan and Turkey, going global

Chinese Blockchain Services Network expands into Uzbekistan and Turkey, going global

Last updated 31st Jan 2023

The BSN, a blockchain-as-a-service platform, is launching portals for its international versions in Uzbekistan and Turkey, CoinDesk reports, citing a press release.

The company’s architect firm, Red Date Technology, has reportedly signed an exclusive agreement with TUCEM (Turkish Chinese Business Matching Center), a regional consultancy firm.

BSN to make dApp development accessible and affordable

Users of the BSN can access the platform through cloud nodes, both in China and abroad. Its goal is to make decentralized application development affordable and accessible and become the main infrastructure for online blockchains in the process.

To comply with China’s strict regulations for internet use, BSN has both a Chinese and an international version.

Red Date pushing for global expansion

Despite economic instability around the world, Red Date Technology is pushing for the project to move past its government roots. This summer, the company filed to register a nonprofit foundation in Singapore with the purpose of managing BSN’s international version, CEO Yifan He announced, adding that his company hoped to attract world leaders from financial service and tech companies to the board of directors.

Transforming the BSN into a world standard open source community

Red Date wants the BSN to become an open source community to serve as a hallmark standard, which shouldn’t be controlled by a single entity. BSN developers can access Polkadot, Solana, Tezos, Algorand, Corda, Nervos, and many other protocols. The portals in Turkey and Uzbekistan will be launched by the end of the year. With them, the BSN will have five international portals.

Investors have been slow to warm up  

Investors weren’t quick to warm up to Red Date. Joe Chang is managing director at Prosperity7, one of the companies that participated in Red Date’s $30 million Series A funding round in June. He said:

There’s a lot of things we had to get comfortable with, with regards to where it [the BSN] originated. Is there going to be a back door? What is Red Date’s role?

Red Date has fewer than 200 employees, most of whom engineers. However, they are responsible for building the BSN’s entire architecture and hope it will serve as the basis of a new blockchain-based internet.

Project hasn’t been without controversy

The project’s close connections to the Chinese government and potentially global implications have raised eyebrows. Red Date and its investors assure they are taking specific measures to guarantee the international version of the BSN is free from potential interference.

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.