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China's State Blockchain Company Plans International Expansion: Censorship and Surveillance?

 


The Blockchain-based Service Network (BSN) plans to push beyond China with an international version of the platform.


The Chinese state-sponsored blockchain company plans international expansion as Beijing continues to push its digital ledger.


BSN is a “one-stop service” that enables customers to deploy blockchains in the cloud without having to develop their own networks from scratch. Yifan He, the CEO of BSN, told CNBC that the company plans to launch an overseas project called BSN Spartan Network later this year.


BSN does not work with cryptocurrencies because Beijing has a tough stance on them and has banned them from the People's Republic. BSN works with 28 blockchain frameworks and 19 portals. The project has more than 25,000 developers and 3,000 apps. In January, it was reportedly working on a central bank digital currency ( CBDC ) scheme.


A Chinese blockchain network for the world?

The Spartan Network will include about six public blockchains that will not use cryptocurrencies. One of them will be an ETH-detached version of Ethereum . Network fees are paid in US dollars instead of the blockchain’s native currency.


Yifan He added that the project aims to reduce the cost of using public chains to a minimum. This would allow more traditional IT systems and businesses to use the public chains as part of their system.


It's unclear whether international companies will use the system, given how heavily China government monitors everything related to the internet. He explains that the system will be open-source and immune to government interference and surveillance.


“People will say BSN is from China, it's dangerous. Let me stress that BSN Spartan will be open source...we will not be accessing anything from our end."


However, that might not be enough as the company is backed by the State Information Center (SIC). This, in turn, is subordinate to the omniscient National Development and Reform Commission of China (NDRC). The NDRC is a macroeconomic management agency with extensive administrative and planning control over the Chinese economy. Also, there are already major concerns that the Chinese digital yuan could be used as a surveillance tool.


He admitted that BSN's Chinese background was a "big challenge". But he also added that the Spartan Network will be directly open-source from its August release. Security firms have the ability to check the code to ensure there are no backdoors for the Chinese government. It remains to be seen whether that will be enough for Western companies. They are generally rather skeptical about doing business with the Beijing regime.


Earlier this month it was reported that South Korean internet giant Kakao will build an open-permissioned blockchain for BSN with its public blockchain Klaytn. This is operated internally in the network under the name "Chongqing Chain". It's unclear if she will be part of the Spartan Network.


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