Red Date Technology, the company behind Blockchain Services Network (BSN), wants to lay the groundwork for non-fungible tokens in China. The company disclosed this at the BSN Open Permissioned Summit on Friday.
CEO Yifan He believes that NFTs will become popular amongst Chinese citizens in the near future but in a different way from how it is in other countries because the government forbids them from running on a decentralized chain.
Yifan added that “this is the only way” to adopt NFTs in China, considering the government’s hostile policies against cryptocurrencies.
The Red Date CEO also speculates that a wide range of companies that have “copyright and IP (Intellectual property) are looking to hop onto the NFT train.
The project tagged BSN-Distributed Digital Certificate (DDC), will grant developers access to 10 open permissioned chains on the BSN, where they can build NFT platforms.