Blockchain network partnership between China & South Korea

Two Fintech companies from China and Korea established a Partnership to bring revolution in the blockchain industry through the use of the crypto blockchain network.

As all of us know very well that China banned crypto mining and trading companies’ operations. But still huge efforts of the Chinese authorities can be seen where they are working in the blockchain technology based project to bring a huge revolution in the payment system and blockchain adoption.

Red Date Technology is a blockchain based firm in China. Now Red Date is in partnership with the MetaverseSociety Corp.

This partnership will allow China & Korea to establish a Blockchain-based Service Network (BSN) portal. The BSN portal will allow the developers of South Korea to develop and create decentralized apps on the blockchain networks like Ethereum, EOS, Polkadot, NEO, Tezos and Oas. And also this portal will provide features to use the global cloud services like Amazon, Google and Microsoft Azure.

This is an initiative started by China and it is expected that it will launch their services by July 2022. And the companies which are involved in this initiative are State Information Center, China Mobile, China UnionPay and Red Date Technology. 

The vice president of global sales at Red Date, Tim Bailey, stated 

“The mission of the BSN is to make enterprise blockchain application development much easier and more affordable”

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