WeBank to provide infrastructure for the Chinese Blockchain-Based Service Network (BSN)

WeBank, part of China’s Tencent company, announced that they will provide the infrastructure for the Blockchain-Based Service Network (BSN) in China. BSN is a consortium of 14 companies that will work on a joint blockchain-based network that will be used for public services across China, including telecommunications and energy management. The BSN initiative was launched earlier in October 2019 and members include business sector members and those from state-owned companies like UnionPay, China Mobile, and China Telecom.