Red Date Technology – among the designing entities of China’s blockchain-powered Service Network – has reportedly secured licensing rights from R3 to offer access to the free and enterprise Corda in China.
Specifically, as revealed by R3, the development has reportedly marked a new milestone of the BSN developer having the freedom to resell enterprise blockchain technology from an offshore firm.
As the R3 deal is reportedly associated with BSN China, developers will design a permissioned version of Corda, to stay in compliance with the nation’s blockchain laws.
Furthermore, with banks seeming to be among the potential customers of the network, the nation’s UnionPay cloud infrastructure will take up the hosting duty to BSN Corda notaries.
The collaboration will reportedly also establish an access gateway into the Chinese market, after the substantial efforts spent widening the scope of the firm throughout the Asian continent.
“Corda will go live in China via BSN’s Open Permissioned Blockchain Initiative to offer Chinese developers low-cost access to Corda technology. Red Date will also help to drive Corda and CorDapps’ adoption among all Chinese banks—enabling Chinese financial companies to streamline their business processes and receive the profound benefits of enterprise blockchain.” Head of Red Date Technology – Yifan He – reportedly remarked.
China-base businesses will reportedly be able to tap into Corda Enterprise by utilizing BSN public city nodes starting from the 3rd quarter of this year.
Red Date Tech reportedly looks to make numerous Corda-based decentralized applications as part of the integration, in an attempt to bootstrap adoption for entities looking to take advantage of BSN Corda.