HONG KONG, Jan. 24, 2022 /PRNewswire/ -- The
Blockchain-based Service Network (BSN) today announced that the BSN
Decentralized Digital Certificate (BSN-DDC) Network
(ddc.bsnbase.com), an infrastructure dedicated to Non-Fungible
Token (NFT) adoption in China, has
soft-launched with eight platform operators along with seven Open
Permissioned Blockchains (OPBs), most of which are converted from
public chains including Ethereum, Cosmos/IRISnet, and EOS.
To differentiate from NFTs outside China that are traded on public chains with
cryptocurrencies (banned in China), NFT is renamed as Decentralized
Digital Certificate (DDC) by BSN.
"NFT/DDC technology is a digital certification and distributed
database technology that can be applied in any scenario where
digital proof is required. We anticipate billions of DDCs issued
annually in China in the future.
The biggest market for DDCs lies in certificate and account
management for all types of businesses", said Yifan He, CEO of Red Date Technology and
Executive Director of BSN Development Association.
In China, the BSN-DDC Network
offers the most diverse, transparent, credible, and reliable
environment for DDC-related business platforms to mint and manage
their DDCs in a one-stop-shop. Gas fees are paid in fiat currency
via BSN-DDC portals, and the minting fees can be as low as
0.05 yuan (0.7 US cents), which is
significantly lower than public chains.
To ensure the decentralization, transparency, authenticity, and
long-term stable operation of the BSN-DDC network, its nodes will
be jointly operated by multiple organizations.
The BSN-DDC network has integrated ten OPBs where all official
DDCs will be minted and stored to comply with Chinese
regulations. The OPBs based on Ethereum, COSMOS/IRISnet,
Corda, EOS, and FISCO BCOS are in operation. Cross-chain services
will be enabled among all OPBs on the BSN-DDC network, as well as
one-way transfers from OPBs to the Ethereum mainnet and other
public chains.
The platform partners announced today include Rong
Bao Zhai Auction, EY
Blockchain, Sumavison, Baiwang, Digital Art
Fair Asia, and Hainan International Culture and Artworks
Exchange Center. BSN will announce all twenty-six founding
partners, disclose future roadmaps, and outline the governance
structure of the network at the official launch ceremony and press
conference in Nanjing,
China, in late March.
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SOURCE BSN