BSN architect Red Date to bring R3’s Corda enterprise blockchain to China

Red date Technology is primarily known for its role with the government backed blockchain platform BSN (Blockchain Services Network). It has licensed American distributed ledger company R3’s enterprise blockchain to resell in China.

Why is this worth a headline?

Until now, Red Date only sold enterprise blockchain from the providers within China. This is the first time that it has acquired the rights to resell from an overseas provider.

The Corda consortium blockchain is a big name overseas. It is Backed by Bank of America, Merill Lynch, HSBC, and Singapore’s Temasek, and has yet to tap into China’s blockchain industry. But this partnership will allow it to do so. This move will attract big Chinese firms to build decentralized applications using Corda.

blockchain business BSN architect Red Date to bring R3’s Corda enterprise blockchain to China

How will the new partnership work?

Corda is used by financial firms around the world. The Nasdaq stock exchange uses it to build market infrastructure and Italian banks use it for interbank payments. Yifan He, CEO of Red Date said that Corda’s enterprise nodes will connect to notary nodes hosted on China UnionPay’s cloud, forming a single China Corda Network. No three notes we prevent double-spending by testing that it actually had not occurred already.  Yifan He expects to tap into China’s financial industry since Corda’s main clients are overseas banks. China Union Pay is also considering an active role in managing the China Corda Network, He said. Red Date will also roll out an open permissioned version of Corda on the BSN available to developers.


Alex is a seasoned editor and writer with a deep passion for technology and startups. With a background in journalism, content creation, and business development, Alex brings a wealth of experience and a unique perspective to the ever-changing world of innovation. As the lead editor at Startup World, Alex is committed to discovering the hidden gems in the startup ecosystem and sharing these exciting stories with a growing community of enthusiasts, entrepreneurs, and investors. Always eager to learn and stay updated on the latest trends, Alex frequently attends industry events and engages with thought leaders to ensure Startup World remains at the forefront of startup news and insights. Alex's dedication and expertise help create an engaging platform that fosters knowledge-sharing, inspiration, and collaboration among tech-savvy readers worldwide.

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