The Blockchain Services Network (BSN), developed by the Chinese government to interconnect blockchain networks globally, has integrated ConsenSys' distributed ledger protocol, ConsenSys Quorum, into its services.
ConsenSys, the software development company in the blockchain de Ethereum based in New York, announced its integration with the digital infrastructure known as the “Internet of blockchains”, the Blockchain Services Network (BSN) developed by China. The company's alliance with this network will allow ConsenSys to bring the potential of its enterprise distributed accounting protocol, called Quorum, to the developing Chinese network.
According to the company's statement, its ConsenSys Quorum protocol will now be available within China's BSN service network, making it more accessible to businesses and government organizations. ConsenSys Quorum is a protocol developed to allow businesses and organizations to develop high-end, high-value, high-performance applications based on the Ethereum blockchain in an easy, secure, and reliable way. Quorum is one of ConsenSys' products that has most favored the adoption of blockchain at the business level, with companies such as Microsoft and JPMorgan among its clients, which have used Quorum to study and develop different use cases for this technology.
It is worth mentioning that JPMorgan is also the developer of the Quorum protocol, which was acquired by ConsenSys in August last year, although the investment giant continues to be an active user and contributor of ConsenSys Quorum.
It may interest you: China's BSN network continues its development in 2021, IMF warns about the issuance of CBDCs
Quorum present in 80 cities in China
The alliance between BSN and ConsenSys is leading the Quorum accounting protocol to gain presence in 80 of the main cities in China, where the blockchain services network is already available through its nodes.
He explained Charles d'Haussy, director of strategic initiatives at ConsenSys in Hong Kong, ConsenSys Quorum will join other public and permissioned blockchain networks already integrated by China's BSN, to connect people who are essentially migrating from the permissioned chain to the global chain, offering a much larger, broader and deeper market within the Asian nation. d'Haussy explains that interest in the development of the enterprise blockchain industry is gaining greater momentum and strength in the country, due to the ease that this technology can provide for companies, businesses and organizations to create customizable applications of high performance and value.
The integration of ConsenSys’ protocol into the globally-targeted network will make it possible for developers to soon build on Quorum, and achieve easy interoperability across the BSN to build advanced IT systems that can meet the sophisticated business logic and reasoning of our era.
BSN and 6 of the most important blockchains
Last year, China's BSN announced the integration of 6 of the largest and most important blockchain networks globally: Ethereum, EOS, NEO, Tezos, IRISnet and Nervos, which contribute to the transformation of this network into the “Internet of blockchains”; where all users, clients, companies and organizations will be able to interact with the millions of applications that will be available through this platform.
China's BSN will include ConsenSys' accounting protocol in training programs to be developed in 2021, with the aim of substantially accelerating the business adoption of blockchain technology in the country, as well as the development and construction of solutions based on the Ethereum network. For its part, Joseph Lubin, founder of ConsenSys, highlighted that the new tool that integrates the BSN is “unique” in the sense that it covers the entire range of needs that arise among companies, in terms of privacy and authorized functions; but it also remains compatible with the Ethereum main network, something that is essential to guarantee interoperability between the different networks.
A rapidly growing blockchain ecosystem
BSN was publicly announced in April 2020, and since then, its growth and development has been incredible. This is one of the largest and fastest-growing enterprise blockchain networks worldwide, with over 2.000 blockchain applications deployed to date in enterprises and government organizations in China.
So far, the Blockchain Service Network has a total of 108 nodes located in public cities in China, connecting more than 80 of its main cities; while it maintains another 8 nodes in public cities in other countries around the world. In addition, among the growth and development plans for this network in 2021, are to add and implement another 10 authorized public blockchain protocols to its network, and another 30 blockchains that allow developers to use their infrastructures for the construction and development of applications at low cost.
Continue reading: Gold on Blockchain: Sichuan witnessed the first physical gold bar tokenized on the BSN blockchain
