Mon, April 22

China’s Blockchain Developer Raised $30M in Series A Funding

China’s Blockchain Developer Raised $30M in Series A Funding Blockchain News

The developer of China’s Blockchain (BSN) successfully closed a Series A funding round receiving $30 million. The funding round started to reinforce the BSN network.

Blockchain- based service network (BSN) is an informational framework that serves as a public portal in China. BSN serves as a public network supporting decentralized blockchain distributed apps (DApps). The notable founders of the network are, State Information Center of China, China Mobile, China UnionPay and Red Date Technology.

BSN Network – Series A Funding Rounds

Moreover, Red Date Technology, one of the founders of BSN Network initiated the funding rounds. It further led by,  Kenetic, Hong Kong crypto firm and Prosperity 7, diversified growth fund of Aramco’s venture arm.

Furthermore, the other remarkable financial giants like Pictet Group and Bangkok Bank, also participated in the funding rounds. The BSN community expand its network globally with help of the raised funds.

In addition, Managing partner at Kenetic, Jehan Chu comments, 

“There is a rebalancing of global technology infrastructure happening that gives greater access to underdeveloped and underrepresented countries.”

Besides, CEO of Red Date, Yifan He shares, the firm has decided to extend its global platform and BSN team to provide a dual-pronged approach. This approach serves both its domestic and international Chinese networks. He strongly feels that if only the cost of all websites turns down to near zero, that period can be called the “Internet’s Golden Age.”

Therefore, BSN Network announces to remove the gas fee layer for crypto transactions processed with Chinese fiat yuan. So, with unique blockchain features, BSN Network drives all the financial giants and technology by next 50 years.

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A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.