China Blockchain Services Network to support stablecoins
The project in the Asian country will soon begin to integrate support for this type of digital assets, according to its CEO
The Blockchain Services Network (BSN) announced that in the next few days it will proceed to integrate support for stablecoins, so that they will be available by 2021.
The CEO of Red Date Technology, Yifan He, indicated that this process will start in the next few days. It should be noted that the BSN of China is an initiative that aims to support medium-sized companies for the deployment of this type of technology.
He explained that stablecoins will be used as a means of payment for various services in the BSN ecosystem, including cloud services. “Only stablecoins can make it much easier, faster and more secure,” the executive noted.
“BSN involves a lot of compensation and settlement between participants. For example, public city node providers allocate cloud resources to the service, and portals sell BSN resources to their end developers. So part of the money the portals receive is paid to the providers of public cities nodes. We are currently going through the banks,” said the CEO.
This project is also very attractive to the national digital currency initiative, which China is developing.
K. Tovar
Source: Cointelegraph
