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China wants to separate NFTs from cryptocurrencies through a new blockchain infrastructure

United States, New York, New York
Published 1 week ago
ID #1195
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China wants to separate NFTs from cryptocurrencies through a new blockchain infrastructure
United States, New York, New York,
Published 1 week ago

Description

China is planning to draw a clear line between cryptocurrencies and non-fungible tokens (NFTs). In much the same way it did with its digital currency efforts, before anti-cryptocurrency measures in the country hurt the local NFT industry.

The Blockchain-Based Services Network (BSN), a government-backed blockchain project in China, is working on an infrastructure that would support businesses and individuals to develop platforms and applications to manage NFT, reported the South China Morning Post.

New York restaurant claims to open only to NFT holders

Officially called BSN Distributed Digital Certificate (BSN-DDC), the project aims to support the deployment of non-crypto NFT by offering application programming interfaces for the development of user portals and applications in which fiat money would be the only payment method.


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    United States, New York, New York
    St. New Town City 3848