BSN, Chinese Government Blockchain Project, Expands Network To Turkey And Uzbekistan

The Chinese blockchain project extends as far as Turkey and Uzbekistan. (photo: unsplash)

JAKARTA - The Chinese government-backed blockchain project, Blockchain-based Services Network (BSN), has recently continued to expand its global presence by establishing two new portals in Turkey and Uzbekistan.

Red Date Technology, the architect behind the BSN project, has signed an agreement with a Turkish consulting firm, Turkish Chinese Business Matching Center (TUCEM), to launch two international BSN portals in Turkey and Uzbekistan by the end of December 2021.

Founded in 2006, TUSEM is a major center of economic cooperation between Turkey and China. The company will be the exclusive operator of two new BSN portals offering blockchain-as-a-service (BaaS) in Turkey and Uzbekistan.

The new portal will allow blockchain developers in Turkey and Uzbekistan to build BaaS applications using the global BSN portal that uses major blockchains such as the Ethereum network, Algorand, Polkadot, Tezos, ConsenSys Quorum, Corda, and others. This initiative aims to solve key challenges associated with blockchain application development, enable blockchain interoperability, and cut development costs.

"Turkey has long acted as a bridge between Asia and Europe so it is only fitting that the first BSN portal outside Asia will be launched there," said CEO of Red Date Technology, Yifan He.

Mehmet Akfırat, president of TUCEM and head of BSN Turkey, said that the Turkish BSN portal will contribute to social development and financial inclusion. According to the executive, both Turkey and Uzbekistan are heavily involved in blockchain development.

He told Cointelegraph that BSN did not choose a location for its international portal. “As long as we have good local partners in some areas, we don't really care where they are,” said the executive, adding that BSN is also in talks with potential partners from the United States, Europe, and Australia.

The President Director also noted that BSN does not operate its international portal. “Everything is built and operated by our local partners. They have a portal, which leverages the BSN infrastructure to build the most powerful BaaS sites at the least cost,” he said.

BSN recently launched Hong Kong and Macau portals on September 1, contributing to the development of more than 30 new blockchain projects. BSN also plans to establish an international BSN portal in South Korea in November.

In January 2021, BSN announced plans to build a universal digital payment network for central bank digital currencies (CBDC) — following its previous intention to support stablecoins for various services in the BSN ecosystem.

However, according to He, BSN is no longer involved in “CBDC-related projects” and has also abandoned its stablecoin plans.

“BSN will no longer be integrating stablecoins. We moved the plan to another completely new project, which had nothing to do with BSN. For BSN, we are focused on expanding our footprint in various countries,” he told Cointelegraph.