China’s government is finally set to take advantage of the initially baned Cryptocurrency exchange and coin offering — often taking away the decentralized part of it.
For instance blockchain can help in tracking shipment of luxury goods and authenticate court evidence.
While China is in the process of implementing blockchain technology in its own way, they plan to become the world leader of the new technology.
In the year 2020, the government of china backed blockchain ingrastructure which was launched in china.
BSN (Blockchain service Network) acted as an operating system for the blockchain program so developers do not have to design a framework from scratch.
It’s one of the country’s important goals to set a standard for the blockchain industry and develop a standard infrastructure for blockchain application in the whole world.