BSN: China Blockchain Service Network
BSN (Blockchain-based Service Network) is a blockchain infrastructure platform supported by the Chinese government. Its core objective is to provide global developers with a standardized, low-cost platform that is easy to deploy and manage for blockchain applications. It is important to note that the BSN entity itself is not a cryptocurrency and does not issue any tokens.
Nature and Positioning
- National-Level Infrastructure: The BSN is led by the China National Information Center (affiliated with the National Development and Reform Commission) and is jointly built and operated with partners such as China Mobile, China UnionPay, and Hongzao Technology.
- Interoperable Network: It is designed as an interoperable network capable of connecting different blockchain ecosystems and supporting the deployment of both permissioned chains (such as Hyperledger Fabric and FISCO BCOS) and permissionless chains (such as Ethereum and EOS).
- Cost-Effectiveness: The BSN aims to significantly reduce the development and maintenance costs of blockchain applications, making them more accessible.
- No Cryptocurrency: Within China, the BSN explicitly prohibits standalone cryptocurrencies; if its services involve payments, the digital yuan (e-CNY) is used by default. The international version, the BSN Spartan Network, also provides public blockchain services without the use of cryptocurrency, allowing users to pay gas fees with fiat currency.
- NFT Support: The BSN already supports NFT services, known in China as BSN-Distributed Digital Certificates (BSN-DDC), which are denominated in renminbi.
Development and Impact
The Chinese version of BSN was officially launched for domestic commercial use in April 2020. The international version, BSN Spartan Network, released a beta version in 2022, aiming to provide blockchain services to the international market without involving cryptocurrencies. As of this writing, BSN has established nodes in more than 20 countries worldwide and is viewed as a key part of China’s global strategy in the blockchain sector.
Diverse Perspectives and Concerns
BSN embodies China’s “permissioned blockchain” development path, emphasizing known validators and state control over governance—a departure from Western ideals of decentralization and anonymity.Some critics worry that BSN could raise concerns regarding data access and national security; some U.S. lawmakers have even proposed legislation aimed at preventing U.S. federal agencies from using blockchain networks developed in China.
The Cryptocurrency “BSN”
Although China’s Blockchain Service Network (BSN) does not issue a cryptocurrency, there are indeed a few projects in the cryptocurrency market that are unrelated to the network but happen to use “BSN” as their token symbol. These projects typically have low market capitalizations and are not widely known.
- Big Search Network Token (BSN): This is a token deployed on the BNB Smart Chain. As of this writing, its market capitalization is extremely low, and its 24-hour trading volume is typically zero.
- Blockswap Network (BSN): This project is described as a permissionless, modular Web3 infrastructure layer for multi-chain composable Ethereum and Ethereum block space. Its all-time high price reached $0.008043 (data as of August 3, 2023).
- Bastonet (BSN): This is a token running on the Ethereum blockchain. Its official website is down, and the project may have ceased operations.
When viewing any cryptocurrency market data, be sure to verify the correspondence between the token symbol and the project name to avoid confusion. You can check real-time prices and project information for relevant tokens on professional market platforms such as Svmuu.
Summary
When referring to “BSN,” the primary and most influential entity is the Chinese government-backed Blockchain Service Network, which is an infrastructure platform rather than a cryptocurrency. Although there are some cryptocurrencies named “BSN,” they have no direct connection to China’s BSN infrastructure project and have relatively low profiles and market capitalizations.Investors should exercise caution when reviewing related information to avoid confusing these different entities.
