Skip to content
Menu
Crypto-Times
Crypto-Times

China’s Blockchain-Based Service Network to Integrate Central Bank Digital Currency

Posted on January 18, 2021 by admin

China’s Blockchain-based Service Network (BSN) – a permissioned blockchain network for building decentralized applications and tokens – plans on releasing a beta central bank digital currency (CBDC) as early as the second half of 2021, according to a Jan. 15 blog post.

The Chinese-state-sanctioned BSN is currently designing a universal digital payment network (UDPN) over the next half-decade. CBDCs from different nations will be supported by the network, the blog claims.

The UDPN network will be available through API connection as well for “any information system such as banking, insurance, ERP, and mobile applications … to enable a standardized digital currency transfer method and payment procedure.”

The network is currently in the design stage, although public city nodes (PCN) are being rolled out through China in various states of completion, the blog states.

As CoinDesk reported, the BSN recently incorporated connections to multiple public projects into its network such as the cloud-computing project Oasis, meta-protocol Polkadot and China-based public blockchain Bityuan.

The BSN further expects to complete integrations with a total of 30 public blockchains this year, the blog concludes.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Heavy news: Ethereum 2.0 ecological network SNARK will conduct global tour road show in April
  • After the ARB airdrop, the next track to get rich—ordinals
  • Singapore’s DeFi Lab Plus International decentralized lending platform makes its global debut, opens DeFi on-chain investment era
  • Congratulations, Kucoin Pro has exceeded 10000 active users in 30 days
  • How does AI Economy bring the New narrative of Web3 application in the era of Generative AI?

Recent Comments

    Archives

    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2021
    • January 2021
    • October 2013

    Categories

    • News

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    ©2023 Crypto-Times | Theme: Wordly by SuperbThemes