China Blockchain-based Service Network (BSN) has revealed plans to develop a universal digital payments network (UDPN) based on standardised procedures for international transfers and payments with and between central bank digital currencies (CBDCs), according to nfcw.com.
The state-sanctioned blockchain network aims to roll out the UPDN in beta as early as the second half of 2021 as part of its roadmap for “enabling new features and functions” and “to accelerate the mass adoption of blockchain technology worldwide”.
“BSN plans to build a digital currency payment network in five years based on the CBDCs of various countries and stablecoins, working with several international banks and technology companies,” BSN says in a blog post.
“This digital payment network will completely change the current payment and circulation method, enabling a standardised digital currency transfer method and payment procedure for any information system.
“[The] Beta version of this convenient and cost-friendly global payment solution will be launched in the second half of 2021.”
BSN was launched in October 2019 as “a cross-cloud, cross-portal, cross-framework global infrastructure network used to deploy and operate all types of blockchain DApps [decentralised applications]” by a partnership that includes China’s State Information Center (SIC), China Mobile, China UnionPay and “other institutions”.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
