China’s state-backed blockchain network disclosed eight platform partners today in line with the soft launch of its non-fungible token (NFT) platform, the BSN-DDC network.
The auction house Rong Bao Zhai, Hainan International Culture and Artworks Exchange Center — an essential part of China’s free trade port — and EY Blockchain are among the listed partners.
The Blockchain-based Service Network (BSN) is a Chinese state-backed project to drive mass adoption of blockchain technology across China.
NFTs built on this network will be called “Decentralized Digital Certificate” (DDC) to distance itself from NFTs that are traded on public chains using cryptocurrencies outside China.
As part of the soft launch, the BSN-DDC network has now integrated 10 open permissioned blockchains, including Wuhan Chain powered by Ethereum and Wenchang Chain powered by COSMOS and IRISnet.
Unlike cryptocurrencies, China has not banned NFTs.
The BSN-DDC network is expected to officially launch in late March.