China Mobile, UnionPay Partner to Build National Blockchain Network

China Mobile has announced that it is deploying the country’s new blockchain platform, which is currently being tested nationwide through a pilot project. According to reports, the telco has joined hands with the credit card firm China UnionPay and other agencies to run the Blockchain Service Network (BSN). The BSN has been officially described as the national blockchain service infrastructure platform that spans public networks, regions and institutions.

It may be recalled that the beta trial of the BSN was launched by the Information Center (SIC), a government IT advisory agency, on 15 October earlier this year. The SIC that was at the helms of creating the design of the BSN hopes that the new blockchain network would begin service after completing the trials and support the smart cities and the digital economy across China.

Experts point out that the network would lower the technical and economic thresholds for blockchain applications and enable the rapid growth of the technology and China Mobile’s role in the BSN is to run the infrastructure, which will eventually operate around the world. According to China Mobile vice president Li Huidi, the company has already rolled out all the core technologies of the platform, with more than 50 city nodes deployed in 31 provinces.