Blockchain without cryptocurrencies: How might China’s BSN change Web3?
China now has an over 80% share in blockchain patent applications worldwide. This shift in China’s strategy comes even though crypto currencies are frowned upon in the country. Even though crypto currencies are one of the most popular applications of blockchain technology globally, China has taken a different route as it develops Blockchain Base Service Network or BSN. How exactly does BSN work? Is it linked to existing public chains? Or is it developing in isolation? Is BSN China’s connection to global blockchains? And how does it operate without crypto currencies? What is NTT & how does one use it?