Chinese blockchain technology projects join forces to boost conventional adoption


NEO, a project called the „Chinese Ethereum,“ and the Blockchain-based Service Network, or BSN, are joining forces to boost the overall adoption of blockchain technology, according to a July 22 official announcement.

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Overcoming the main barriers
According to the report, high entry barriers and fragmented developer experiences are major barriers to mass adoption of blockchain technology.

To address these issues, BSN aims to provide a public repository for blockchain resources. The network will also attempt to reduce costs related to application development, deployment, operation, maintenance, connectivity and management.

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As one of the first public blockchains supported by the network, NEO says it will leverage BSN’s global public nodes and portals to help developers overcome obstacles and challenges to mass adoption.

Leading companies such as China State Information Center, China UnionPay and China Mobile will also join the blockchain union to accelerate the adoption of the technology. Da Hongfei, founder of Neo, said:

„The adoption of Blockchain technology has accelerated dramatically over the past few years … we hope to overcome the challenges faced by conventional blockchains while encouraging collaboration between industries.

NEO was created in 2014, under the name Antshares. The project changed its name in 2017, shifting the focus to digital assets and „smart economies“. NEO also acts as a platform for other Corona Millionaire blockchain projects, especially Ontology (ONT).

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As reported by Cointelegraph earlier, BSN was split into two separate entities after a disagreement over the integration of the public blockchains.