Red Date Technology, the company behind the Blockchain Services Network, plans to launch infrastructure in China to support the deployment of non-fungible tokens.
The BSN-Distributed Digital Certificate (DDC) project was announced on Friday at the BSN Open Permissioned Summit. Yifan, CEO of Red Date He stated that while NFTs will be widely used in China over the next five years, the government does not want the technology associated with crypto or running on public, permissionless chains.Looking at the environment in China, this is the only way to launch NFTs,” he said. Developers on the BSN-DDC will have access to ten “open permissioned” chains on the BSN to build their NFT platforms. He encouraged other public chains to join the project. According to He, the infrastructure can also be deployed on nodes outside of the BSN. “What I see here is that every company that has copyright and IP (intellectual property) is considering NFTs,” the CEO said, adding that they are collaborating with a major film studio.He stated that the project will begin by the end of January 2022. Chinese media reported last week that China’s two largest tech companies, Ant Group and Tencent, had changed references to NFTs on their websites and platform names to “digital collectibles.” “Like everyone else,” he said, they changed the name of NFTs to DDC.