Neo(NEO) New partnership with Blockchain-based Service Network (BSN)

Partner's Name

Blockchain-based Service Network (BSN)

Counterparty Website

https://bsnbase.io/g/main/index

Counterparty Details

China announced the launch of the BSN — a signature project meant to cement China's leadership in blockchain technology — in April 2020 as a joint initiative of the State Information Center, China Mobile, China UnionPay and Red Date Technology, with the four later forming the BSN Developers Alliance.

Does this partnership generate any kind of revenue?

NO

Applicable Date(s)

2022-02-14

Partnership Details

On February 15, 2022, China’s state-backed Blockchain-based Service Network (BSN) announced the addition of Neo’s Jiuquan Chain to its open permissioned blockchain ecosystem to support the legal issuance of non-fungible tokens (NFTs) in the mainland.

According to a press release shared with CryptoPotato, the China-native Neo ecosystem will be creating a permissioned chain called Jiuquan. As per the report, this will be one of the ten blockchains that will form the Chinese blockchain-based ecosystem. It’s worth noting that China has previously announced that it will have its own take on the NFT industry, although non-fungible tokens will be based on the Distributed Digital Certificate (DDC) standard). Neo plans to integrate their domain name service as part of the new chain to function as DDCs and replace their hash strings with memorable sentences.