A source familiar with the matter said the rift was caused by the “pushback from its core, state-owned members on the public chain integrations.” The consortium is led by State Information Center, the China Mobile Communication Corporation and China Union Pay – all state-controlled entities.
The source noted that the original plan intended to add five blockchain networks to BSN: Ethereum (ETH), EOS (EOS), Nervos (CKB), NEO (NEO) and Tezos (XTZ). They also indicated that this pushback has caused delays and uncertainty about future deployment.
Two BSNs will be integrated
A Chinese media outlet reports that although the two entities are going to be independent, five of the BSN-China nodes will be connected to BSN-International. At the same time, it notes that these five nodes would have to fully comply with the appropriate local laws and regulations.
This development indicates that despite chairman Xi’s enthusiasm for blockchain technology, local elites remain uneasy about public blockchain networks that cannot be easily censored or controlled.
Blockchain tech and equity trading
Meanwhile, the China Securities Regulatory Commission (CSRC) recently issued a letter approving five regional equity markets, Cointelegraph reports. They will include equity centers in Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen. These and other regions received authorization to begin experimenting with a blockchain pilot in