BSN to Integrate CBDC-Focused Cypherium Blockchain

Cypherium joins Ethereum, Hyperledger Fabric, Tezos and Solana, among others.

Oct 14, 2021 at 3:54 a.m. UTC
Updated Oct 14, 2021 at 2:54 p.m. UTC

China’s Blockchain Services Network is integrating the Cypherium blockchain into its platform, according to a press release shared with CoinDesk.

  • The BSN is a platform where developers can access development tools and deploy their decentralized applications. It has so far integrated the Ethereum, Hyperledger Fabric, Tezos, ConsenSys Quorum and Solana blockchains, among others. The network runs through cloud-based city nodes in China and abroad. The platform is split into a Chinese version and an overseas version.
  • Cypherium is a layer 1 permissionless protocol that promises to enable exchanges of central bank digital currencies, stablecoins and cryptocurrencies like bitcoin. Being permissionless, it allows anyone to participate in its governance. That will likely be changed when it is integrated with the Chinese version of the BSN, which allows for only “open permissioned” chains to comply with Beijing’s regulations.
  • Red Date Tech, the firm building the BSN, is reportedly working on its own CBDC and stablecoin-oriented blockchain.
  • Earlier this week, the BSN’s architect announced it is launching access portals in Turkey and Uzbekistan.

DISCLOSURE

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Eliza Gkritsi is a CoinDesk news reporter based in Asia.