Ethereum’s ConsenSys Quorum will now be partnering with China’s BSN Blockchain, making the first big partnership after leaving JPMorgan as we are reading more in our latest cryptocurrency news.
The New York-based Ethereum ConsenSys Quorum partnered with the Blockchain-based Service Network to bring the enterprise ledger to the nationwide blockchain project-BSN. As a part of the partnership, Quorum which is an open-source protocol layer that serves as the basis for businesses to build ETH-based applications and will be available in about 80 different cities via BSN’s public city nodes in mainland China. Charles d’Haussy who is the director of strategic initiatives in Hong Kong said:
“China is a great example of where enterprise blockchain is a strong play. What Ethereum is doing with ConsenSys Quorum is connecting people who are essentially migrating from the permissioned chain to the global chain.”
As a part of the announcement, the blockchain was designed by engineers from JPMorgan and now it appears that Quorum will be in the wilderness for a time between being out of the bank and re-housed in the Consensys ecosystem. D’Haussy said:
“Quorum was very much associated with JPMorgan, but there was also this open-source software which was available to many developers. It may not have been apparent, but there was this large audience of enterprise users, and we are now bringing to this ecosystem other products and applications from ConsenSys.”
The BSN was founded in April last year by Red Date Technology and it spans various cloud environments and portals in China while being backed by the Chinese government in the form of a National Development and Reform Commission. Designed to be the backbone of the “Digital Silk Road”, it deployed 108 public city nodes that connect 80 cities in China. Yifan He, the CEO of Red Date Technology said:
“After the launch, BSN will include Quorum in BSN’s training programs in 2021 to substantially accelerate the enterprise adoption of blockchain technology and Ethereum-based solutions in China. GoQuorum will also be interoperable with other permissioned frameworks and open permissioned frameworks on BSN. China’s industries, which are a global network of large and small suppliers, are not integrated as they were in the past. They are jumping on coordination tools such as blockchain.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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