Last year was a big year for blockchain projects in China after President Xi Jinping called for further development of the technology at the end of 2019.

The Blockchain Service Network (BSN) is China’s bid to unify disparate blockchain projects while maintaining control at home, but the US appears unconcerned.

The BSN is meant to be a kind of internet for blockchain protocols, and it is the only one of its kind in the world.

The idea behind the network is to allow interoperability between different blockchain protocols, such as bitcoin and Ethereum.

Servers running on the BSN are made compatible with the blockchains of any participating members.

China’s efforts to bolster blockchain could one day be seen as critical as its investment in 5G.

“It’s still not clear that blockchain has the same potential commercial and military applications as technology like AI, so I think the US has not been as concerned about blockchain development yet”, said Sam Dorshimer, a CNAS researcher.

https://www.scmp.com/tech/blockchain/article/3117745/what-blockchain-how-it-works-and-how-china-will-lead-world