Red Date Technology, one of the builders of China’s Blockchain-based Service Network, has obtained licensing rights from R3 to resell both the free and enterprise Corda implementations in China.
According to a press release by R3, the news marks the first occasion of the BSN developer being able to resell enterprise blockchain technology from an overseas company.
Since the R3 deal is with BSN China, developers will create a permissioned version of Corda to comply with Chinese blockchain regulations. Also, with banks reportedly being one of the likely users of the network, the country’s UnionPay cloud infrastructure will play host to BSN Corda notaries.
The partnership also offers an entry point for R3 into the Chinese market following the company’s significant expansion across Asia.
Commenting on the importance of integrating an enterprise blockchain project like Corda on the BSN, Red Date Technology CEO Yifan He remarked:
“Corda will go live in China via BSN’s Open Permissioned Blockchain Initiative to offer Chinese developers low-cost access to Corda technology. Red Date will also help to drive Corda and CorDapps’ adoption among all ChineseTitle: China’s blockchain project BSN to integrate R3 Corda
Sourced From: cointelegraph.com/news/china-s-blockchain-project-bsn-to-integrate-r3-corda
Published Date: Wed, 31 Mar 2021 11:04:16 +0100