Five Reasons you should choose BSN-DDC for your NFT businesses in China
- We have big plans for the future!
Before we even get to the key advantages that using the BSN-DDC for your NFT business in China offers today, it’s important to understand the BSN-DDC is a dynamic, rapidly evolving ecosystem.
The BSN-DDC Network is currently only available in China, but that is far from the end of our ambition for the system. We want the network to connect with global users and serve as a bridge between international innovation hubs regardless of continent.
Through the BSN-DDC network, users will be able to access cross-chain services between all OPBs, as well as one-way transfers from OPBs to the Ethereum Mainnet and other public chains. This will mean that global users will be able to access NFT assets created in China.
The BSN is working with several platform partners outside of China to make this happen. The dream of bringing the global community together through a technology-driven cultural exchange is at the heart of what motivates the BSN-DDC ecosystem.
2. Trusted and relied upon by global consultancy firms, cultural institutions, and tech providers
A few short months after its launch, the BSN-DDC has already succeeded in putting itself on the global technology map. In a field where innovation moves quickly and there is heated debate about which sub-variety of each new technology can provide the best results, BSN’s DDC network has passed the first hurdle by gaining eight early adopter partners.
This vote of confidence in the BSN-DDC approach is exceptionally encouraging, especially given the complexity of making NFT technology compliant and legal in China.
BSN-DDC partners include a diverse mix of organizations, both Chinese and international, and corporate entities and cultural institutions. We expect our list of partners in this project to grow over time as the pace of NFT adoption quickens, and the myriad uses of digital certificates are recognized and implemented.
In terms of global corporate partners, we are currently working with EY Blockchain, which has always been fast in linking itself to new developments in the blockchain space.
Technology companies like Sumavision and Baiwang have also seen the potential inherent in the BSN-DDC and have become partners.
Moving onto cultural institutions that want to use NFT technology, we partner with auction house and bespoke stationers, Rong Bao Zhai, and the Hong Kong-hosted Digital Art Fair, the first-ever Asian event centered around immersive digital art, new media, and NFT artwork.
Finally, we have partnered with the recently opened Hainan International Culture and Artworks Exchange, a pioneering attempt to create a hub for digital creative industries assisted and enabled by the BSN-DDC.
3. Fully compliant with Chinese government regulation
The Chinese government has banned the use of cryptocurrencies within China, which has presented obvious problems for adopting NFTs and all other innovations resting on the underlying use of blockchain technology.
However, a core belief here at BSN is that blockchain technology is so much more than just cryptocurrencies. The fact that cryptocurrencies are illegal in China doesn’t have to mean Chinese businesses and consumers should miss out.
The issue is that although NFTs are allowed within China, the fact that public chains are not meant there is no network to support their usage. The BSN-DDC, through its adaptation of public chains like Ethereum into so-called Open Permissioned Blockchains, has solved this problem by providing an infrastructure for NFT use that complies with all government regulations.
In fact, the Chinese government has signaled that it sees numerous uses for NFT technology and is therefore very open to developing NFT-like digital certificates.
4. Widest choice of underlying blockchains
The BSN-DDC, as a discrete network deployed on BSN China, has been designed and built specifically to allow NFTs usage. Accordingly, the choice of which underlying blockchains to use should be guided by the individual requirements of each use case, and BSN has therefore undertaken to give users as wide a choice of chains as possible.
Given the diversity of situations in which NFTs could be deployed to positive effect, the BSN-DDC currently offers a range of 10 OPBs capable of supporting NFTs, and more will be added in the future. Each chain will have its own default NFT contract, which users can then customize or adapt as they wish, and this should ensure sufficient flexibility of application.
5. User-friendly interface that works for developers and customers alike
Here at BSN, we are well aware that user-friendly interfaces are essential if the full potential of any new technology is to be fully realized. Experience has taught us that a significant strength of blockchain applications, NFTs included, is that the ‘modular’ nature of how they are built and used makes them relatively easy for new users to get to grips with.
As such, businesses and individuals looking to launch their NFT business in China can rest assured that the BSN-DDC approach puts ease of use at the heart of how we design our network. In addition to this, BSN will provide extensive support and bespoke APIs for end-users unsure about how to begin building their own NFT applications.
Finally, just as with all other BSN services, payments are processed in fiat currencies rather than cryptocurrencies. Partly this is needed to reinforce the regulatory compliance outlined above, but we also believe there are real business benefits from making ‘gas’ payments in fiat currencies. The instability of cryptocurrencies concerning fiat currencies might benefit a day trader, but businesses and customers like the certainty of knowing that the prices they face when interacting with blockchain applications are not going to vary wildly from one day to the next.
