China’s Blockchain Service Network (BSN) is planning on integrating with public decentralized systems. Firstly, it is going to integrate with Ethereum (ETH) and Nervos Network (CKB) as per the information from a seasoned investor.
The Managing Partner at the Dragonfly Capital investment fund Haseeb Qureshi has shared exclusive information on Twitter regarding the plans of PRC that it is advancing the BSN blockchain and reveals that the Chinese BSN blockchain is going to integrate with famous public blockchains.
Haseeb Qureshi claims that he has been informed by various resources and says that the first of public blockchains that are integrating with the Blockchain Service Network are Ethereum and Nervos Network.
Integration could be a big deal
The seasoned investor has also stated that this integration might be a “big deal” as it seems to be very important because of various reasons. The first one is that a public blockchain is integrating into the state-backed distributed systems of China which is a green light. By interacting with public blockchains, the existing systems may turn to be more decentralized which might prove beneficial for Chinese enterprises.
Apart from this, this integration will give a boost to the adoption of cryptocurrency and other innovations related to crypto in the country. After this tweet, the price value of the Nervos Network Token CKB surged high by over 17%.
However, there is a question that whether Chinese regulatory bodies are going to accept this integration or not? To get support from the Chinese regulatory bodies, PRC will have to bring into consideration this integration of Chinese Blockchain BSN with public blockchains.
By integrating with public blockchains Ethereum and Nervos Network, the adoption and performance of the BSN blockchain will get a boost and it will make the blockchain more advanced.