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China Plans to Create Separate Blockchain Infrastructure to Legalize Only NFT

January 14, 2022
Source: recentlyheard.com recentlyheard.com
News Snapshot:
- Red Date Technology aims to develop a compliant NFT platform. - Ethereum and WeBank’s Fisco Bcos will be part of the BSN-DDC architecture. Cryptocurrency is illegal in China, but that doesn’t imply that non-fungible tokens (NFTs) must also be outlawed. South China Morning Post reports that cryptocurrency-related infrastructure in China will be separated from the one used to manufacture NFTs to avoid a negative impact on the country’s NFT business. Blockchain-based Service Network (BSN) is building a new blockchain infrastructure project that enables people and enterprises to construct and administer NFT’s without requiring infrastructure designed specifically for crypto. Earlier...
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Tags: applications | ban | bitcoin | blockchain | boycott | BTC | Business | cash | CEO | China | crypto | cryptocurrency | currency | digital | Ethereum | fintech | illegal | infrastructure | international | IT | manufacture | manufacturing | network | platform | technology

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