ZUG, Switzerland, Feb. 23, 2022 (GLOBE NEWSWIRE) -- CasperLabs, a leading blockchain software company for the enterprise market, and the Blockchain-based Service Network (BSN) have partnered to add the Casper Network-powered Fuzhou Chain to the BSN – Distributed Digital Certificate Network (DDC). This addition will support the legal issuance of non-fungible tokens (NFTs) in Mainland China and support Fuzhou government entities and businesses with access to a reliable and innovative blockchain network in a variety of industries, including supply chain, patents, and event management.
“Fuzhou has long been a major Chinese industrial and maritime center and today it is also well-known for its burgeoning technology and digital sector,” said Tim Bailey, Vice President of Global Sales at Red Date Technology, one of the four founding members of the BSN. “We chose the Casper Network as the preferred blockchain for Fuzhou because of the network’s security, scalability, low cost, and usability. We expect that the Fuzhou government and the city’s diverse businesses will take advantage of the opportunity to integrate this blockchain technology – and particularly DDCs – into their operations to streamline processes and lower costs.”
The Fuzhou Chain is one of 10 BSN OPBs, or Open Permissioned Blockchains, and will run as part of the BSN Distributed Digital Certificate infrastructure. The vision of the BSN China is to become an open and diversified permissioned ecosystem comprising various participating chains with their own ecosystems, including smart contracts and dApps. To differentiate ‘Chinese NFTs’ from those used in the rest of the world, NFTs on the Fuzhou Chain and other BSN OPBs are renamed Distributed Digital Certificates (DDCs), emphasizing that NFT technology utility goes beyond simply graphical images, videos, or music tracks.
Businesses worldwide are no strangers to the benefits of blockchain technology and DDCs.
“NFTs/ DDCs have many different applications in today’s business environment, and not just the well-known music and art applications,” said Mrinal Manohar, CEO and Co-Founder of CasperLabs. “This technology can also be used to track individual goods through the supply chain, protect intellectual property and patents, authenticate event tickets, and much more. Because the Fuzhou Chain eliminates the use of cryptocurrencies to pay for gas fees, it is much simpler for developers in and around Fuzhou to generate public and private blockchain applications at a lower cost, while remaining compliant with Chinese regulations.”
CasperLabs is building the OPB protocol and will be a service provider on the BSN-DDC Network. The Casper Network, which launched its public network in March 2021, is highly secure, low cost, and easy to use – attributes that will likely be very attractive to organizations in the region looking to adopt blockchain technology.
To recognize their mutual cooperation and commitment to providing Fuzhou with a reliable and innovative blockchain network, CasperLabs and BSN have minted this multi-signature DDC.
The full development and governance roadmap of the BSN-DDC Network and the integration of the Casper-powered Fuzhou Chain will be formally announced in March at the BSN-DDC Network’s official launch and press conference in Nanjing, China.
About CasperLabs
CasperLabs, a leading blockchain software company for the enterprise market, is re-imagining blockchain for enterprise with a future proof solution. The company also provides development, support and advisory services for organizations building on the Casper network. Guided by open-source principles, CasperLabs is committed to supporting the next wave of blockchain adoption among businesses and providing developers with a reliable and secure framework to build private, public and hybrid blockchain applications. Its team possesses deep enterprise technology experience with a cumulative 100 years of enterprise experience, hailing from organizations including Google, Adobe, AWS, Dropbox and Microsoft. To learn more, visit https://casperlabs.io/.
About BSN
The Blockchain-based Service Network (BSN) is a cross-cloud, cross-portal, and cross-framework global public infrastructure network used to develop, deploy, and maintain all types of blockchain distributed applications (DApps). BSN aims to change the existing problem of the high cost of developing and deploying blockchain applications by, just like the internet, providing public resource and interoperability environments to developers. In this way, the development and universal adoption of blockchain technology can be largely accelerated.
