China-Backed Crypto Guru Wants to Unify World’s Blockchains
- Startup leads China’s first national blockchain project
- Aims to integrate over 100 public networks within a year
The blockchain world today is thousands of disparate platforms that can’t talk to each other. So a little-known startup hatched one of the most ambitious plans yet to bridge all the divides -- and it’s got the backing of the Chinese government.
Beijing-based Red Date Technology is at the heart of China’s first state-backed blockchain initiative, envisioned as a one-stop hub for developers to build decentralized applications (dapps) for everything from money transactions to drug-delivery tracing. Think of it as the crypto-world equivalent of a cloud service like Amazon Web Services or Microsoft Azure that hooks up and supports a multitude of software and platforms. Since its April roll-out, the Blockchain-based Service Network (or BSN) has attracted more than 6,000 enterprise, government and individual users primarily from China.