China Aims to Be the World's Dominant Blockchain Power
By MYBRANDBOOK
China aims to be the World’s dominant blockchain power, with the help from the tech magnets including Google, Amazon and Microsoft. As per the report, China is building its own version of the internet focused on very different ideas, and they are exporting their vision to other countries.
The project, named the Blockchain-based Service Network (BSN), is expanding globally as U.S.-China relations become increasingly tense. BSN is a Chinese state-sanctioned blockchain project, but few may realize the network is supported by U.S. technology companies. BSN pays these cloud services providers to use their servers and integrates the servers with their software.
Amazon Web Services (AWS), Microsoft and Google are among the major cloud service providers for BSN’s overseas data centers. The network has two data centers hosted by AWS in China. It also uses a few global data centers built on Microsoft’s cloud computing arm and Google Cloud Platform. BSN has one data center from Google Cloud based in Tokyo, one from Microsoft in Johannesburg and two from AWS in Paris and California.
The report highlights, China’s blockchain infrastructure BSN is set to provide global access to its services next month, as the network’s reliance on U.S. cloud service providers makes it vulnerable to geopolitical risks with the rising tension between the U.S. and China over the last several months could increase such risks.
A state-backed blockchain infrastructure project from China aims to be the dominant internet services provider for decentralized applications (dapps). Its first-mover advantage is significant, as are the geopolitical risks.
This charged environment could potentially spell trouble for BSN. “China tries to grab the lead in blockchain and dominate this domain and that may end up putting this BSN project further into the spotlight of the U.S.-China tech competition,” said Paul Triolo, practice head of geotechnology at Eurasia Group.
Sources reveled, BSN’s global expansion has not met with challenges from U.S. regulators, perhaps because it is relatively new. Or maybe it’s just that few Washington lawmakers can actually make sense of it.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DELL TECHNOLOGIES INDIA PVT. LTD.
TECHROUTES NETWORK PRIVATE LIMITED
SECUREYE SERVICES PVT. LTD.
FIRE BOLTT
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : MUKESH D. AMBANI
Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and ...
ICONS OF INDIA : RAJIV MEMANI
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
PARTNER SPEAKERS
PSU
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
