China to run BSN revolutionary blockchain Project in 2021

A new system is under development in China that aims at uniting and integrating international central bank digital currencies under BSN, China’s national blockchain project.

Share

The blockchain service network or BSN which is the Chinese national blockchain project is going to have a pilot to check the integration with central bank digital currencies (CBDC) around the world.

Developing a universal digital payment network (UDPN) based on CBDCs of many countries is BSN’s aim. UDPN’s beta version will probably be launched around July 2021 which will be finished by 2026.

BSN tends to have a digital currency transfer method and payment procedure which is standardized using UDPN so that they could unite multiple systems like insurance, enterprise resource planning, banking, and mobile apps via APIs. This will yield a worldwide cost-effective method of payment and is according to BSN a top game-changer in the finance.

“The CBDCs will completely change the current payment and circulation methods of traditional currencies, consistently build payment systems’ resilience, and significantly increase the global circulation of commodities and cross-currency settlement.”

BSN has a 4-goal roadmap for 2021 and BSN network expansion, private BSN platform promotion, and BSN ecosystem broadening are the other goals besides the UDPN.

Categories

Crypto Currency(5)

Latest News

Bitcoin investment gave a $1 Billion profit to Tesla according to analysts!

According to an analyst from Wedbush Securities, Tesla has made a fortune of almost a billion dollar from its BTC investment. ...

FEB 22, 2021

Bitcoin sets a market cap above $1T while Elon Musk believes its price is overrated

On Saturday, Tesla CEO said that the Bitcoin price seems to be too high after Bitcoin passed 50K. ...

FEB 20, 2021

A YouTuber paid 37 BTCs for several used sport cars

A YouTube is sad to announce that he had paid 37 BTCs for some secondhand cars. ...

FEB 17, 2021

Polkadot full-launch roadmap triggers an upward trend towards a new all-time high

Using polkadot seems to be possible but it may take a while as delays may occur. ...

FEB 16, 2021

Tags

Blockchain Technology

Tags

Blockchain Technology