China has been quietly building a blockchain platform

Chinese President Xi Jinping has declared that his country needs to “seize the opportunities” presented by blockchain technology.

In a speech in 2019, the Chinese leader said blockchain was an “important breakthrough in independent innovation of core technologies.” As a result of that speech, blockchain was elevated to a national priority for China, among other technologies — such as semiconductors — that the country is trying to boost its capabilities in.

Since then, without much publicity and fanfare, China has been building a platform that aims to facilitate the deployment of blockchain technology for companies. It’s called Blockchain-based Service Network (BSN).

Here’s what we know so far.

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