• BSN architects launch red date for NFT infrastructure in China

  • Red Date Technology, the company behind the Blockchain Services Network, will launch the infrastructure to support the deployment of unforgeable tokens in China.

    The project, dubbed BSN-Distributed Digital Certificates (DDC), was announced at the BSN Open Licensing Summit on Friday.

    Red Date CEO He Yifan said NFT will be widely used in China in the next five years, but the government does not want the technology to be used with cryptocurrencies or run on a public permissionless chain.

    “If we look at the environment in China, this is the only way to launch NFTs,” he said.

    On BSN-DDC, developers will have access to 10 “open license” chains on BSN to build their NFT platforms. He called for more public chains to join the project.

    The infrastructure could also be deployed on nodes outside BSN, he said.

    “What I see here is that every company that owns copyright and IP (intellectual property) is considering NFT,” the CEO said, adding that they are working with a major company in the film industry.

    He said the project will be launched by the end of January 2022.

    Last week, Chinese media reported that major Chinese tech giants Ant Group and Tencent changed references to NFT in their websites and platform names to “digital collectibles”.

    He said they changed the name of their NFTs to DDC, “just like everyone else.”

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