Back in 2019, President Xi Jinping made comments during a speech to the effect that China needed to seize the massive opportunities blockchain technology presented. From that time, the country regarded blockchain tech as a priority alongside other technologies such as semiconductors. Since that speech by the Chinese president, the country embarked on a quiet task of building a platform that would make it easy for companies to deploy blockchain technology in their operations. That platform is called Blockchain-based Services Network (“BSN”).
It should be remembered that the Chinese government more or less banned cryptocurrencies and other related activities. Why then is it creating a blockchain platform? The answer is simple: the country is creating…
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