Red Date Technology, the agency behind the Blockchain Services Network, will launch infrastructure to assist the deployment of non-fungible tokens in China.
- The undertaking, dubbed the BSN-Distributed Digital Certificate (DDC), was introduced on the BSN Open Permissioned Summit on Friday.
- Red Date CEO Yifan He stated that NFTs will probably be broadly used in China in the subsequent 5 years, however that the federal government doesn’t need the expertise to be related to crypto or operating on public, permissionless chains.
- “If we look at the environment in China, this is the only way to launch NFTs,” He stated.
- On the BSN-DDC, builders may have entry to 10 “open permissioned” chains on the BSN to construct their NFT platforms. He referred to as for extra public chains to be part of the undertaking.
- The infrastructure will also be deployed on nodes exterior the BSN, He stated.
- “What I see here is that every company that has copyright and IP (intellectual property) is considering NFTs,” the CEO stated, including that they’re working with a significant firm in the movie business.
- The undertaking will launch by the top of January 2022, He stated.
- Last week, Chinese media reported that China’s massive tech giants Ant Group and Tencent modified references to NFTs on their websites and platforms names to “digital collectibles.”
- He stated that they modified the title of NFTs to DDC, “like everyone.”
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