Inside China’s Effort to Create a Blockchain It Can Control – CoinDesk – CoinDesk

Inside China’s Effort to Create a Blockchain It Can Control – CoinDesk – CoinDesk

“If they do something wrong we can delete the whole chain.”

This is how Yifan He, the CEO of Red Date, the company behind China’s Blockchain-Based Service Network (BSN), describes the level of government control in the system. 

BSN is the government-blessed framework being developed in China for blockchain developers. The network can already support decentralized applications (dapps) or tools built on 15 public blockchains. Red Date claims that it offers developers access to blockchains, both inside and outside China, at a cheaper price. 

This all fits into a larger pattern. China is wary of cryptocurrency but has embraced blockchain technology, as long as it can be controlled. The country is actively pursuing global supremacy in blockchain and crypto, and that work has two prongs: the digital yuan, or DCEP, China’s central bank digital currency, and BSN, a framework for building enterprise blockchain products. 

But China’s approach differs from the original concept of a blockchain as a system that is supposed to be immutable and resistant to government interference.

The BSN-base enterprise blockchain systems have been deployed by the cities of Hangzhou, Xiong’an, Changsha and the Hainan Province, according to Red Date’s international business development manager, Erika Lou. 

Several provinces are planning to join BSN this year, she added. Some foreign governments in Asia,
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