WeBank will 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. Blockchain-Based Service Network is a consortium of 14 companies that will work on a joined blockchain based network that will be used for the public services across China, including telecommunications and energy management. The BSN initiative is launched earlier in October 2019, and apart from business sector, members are the state-owned companies like UnionPay, China Mobile, and China Telecom.