Opinion: Crafting an enduring and eco-friendly blockchain-as-a-service accessible to everyone
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San Francisco played host to the Asia-Pacific Economic Cooperation (APEC) Summit from November 15 to November 17, 2023. World leaders, dignitaries, and delegations from the 21 member economies gathered under the theme of “Creating a Resilient and Sustainable Future for All.” The summit aimed to promote free and fair trade, open investment, and sustainable economic growth, with a focus on regional issues such as sustainability, digitalization, and energy security.
Meanwhile, in Singapore, parallel to the US APEC 2023 event, the BSN Foundation made a significant announcement on November 16, 2023. The foundation unveiled its founding members and their role in blockchain-as-a-service.
The BSN Foundation oversees the BSN Spartan Networks, which consists of Red Date Technology, Blockdaemon, GFT Technologies, TOKO, and Zeeve. These organizations hail from different countries and regions, including the United States, Germany, and Hong Kong. They bring diverse expertise to the table, dedicated to constructing next-generation global IT system infrastructures for internet communications, digital economies, metaverses, digital payments, and NFTs. These infrastructures are based on non-cryptocurrency public chain technologies, designed to benefit IT systems worldwide.
In an interview, Tim Bailey, the vice president of global business and operations for Red Date Technology, explained that the BSN Spartan Network is a decentralized network governed by the BSN Foundation. Each member operates a governance data center that hosts all the validator nodes of non-cryptocurrency public chains. The BSN Foundation operates through three core committees: the technical committee, the governance committee, and the business committee. These committees oversee activities such as research and development, governance coordination, and commercial matters. As a decentralized governance organization, each member has an equal voting right on governance decisions. They can integrate new blockchain protocols or adjust network fees. Furthermore, they operate a governance data center that hosts all the validator nodes of the non-cryptocurrency public chains.
The BSN Foundation recognizes the value of public chain technologies as a complement to traditional private IT systems. These technologies offer advantages such as cost-effective data sharing, private data ownership, and transparency. However, traditional enterprises have been hesitant to explore these benefits due to concerns about unregulated cryptocurrencies.
To bridge this gap, the BSN Spartan Network provides a decentralized cloud service solution using non-cryptocurrency public chains as the operating systems. The network consists of open-source virtual data centers that can be downloaded for free on GitHub. Users can selectively install nodes of non-cryptocurrency public chains and deploy smart contracts and build dapps on these nodes. They can pay gas fees on non-cryptocurrency public chains using fiat currency or stablecoins like USDC.
The BSN Foundation begins with five members but aims to expand to 40 members in the future. These organizations will contribute to the foundation’s mission of pioneering global public IT system development. Their expertise spans blockchain-as-a-service, real-world asset tokenization, financial services, and consulting.
Among the first five members is Blockdaemon, which provides enterprise-grade blockchain node deployment solutions. Andrew Vranjes, the vice president of sales and general manager of APAC at Blockdaemon, explained in an interview that the company streamlines and enhances the onboarding and iteration processes for organizations utilizing the BSN Spartan Network.
GFT Technologies, with over 35 years of experience, specializes in sustainable solutions based on new technologies like AI and blockchain. Christopher Ortiz, group chief executive and global markets and region manager APAC and UK at GFT, highlighted the company’s commitment to developing sustainable solutions.
Red Date Technology, based in Hong Kong, is dedicated to building next-generation public IT system infrastructures. As the technical architect of the BSN Spartan Network, the company brings expertise in fundamental technologies. Tim Bailey, VP of global business and operations for Red Date Technology, emphasized the significance of the announcement.
TOKO, a digital asset creation platform, combines the compliance and regulatory rigor of a global law firm with innovative technology solutions. TOKO offers digital asset tokenization and legal compliance solutions based on the BSN Spartan infrastructure. Scott Thiel, managing director of TOKO, spoke about the company’s unique offerings.
Zeeve, an enterprise-grade no-code blockchain infrastructure automation platform, enables easy deployment, monitoring, and management of blockchain nodes and networks. The company empowers developers and traditional corporations to swiftly develop decentralized applications on the BSN Spartan Network. Dr. Ravi Chamria, Zeeve’s CEO, expressed his thoughts on the announcement.
The BSN Foundation aims to expand its membership to 40 leading international companies, creating one of the world’s most decentralized IT infrastructures. Yifan He, CEO of Red Date Technology, believes that this decentralized governance approach will revolutionize traditional business operations and data communication in a sustainable way.
In conclusion, the APEC Summit and the BSN Foundation’s announcement mark significant milestones in promoting sustainable economic growth and advancing blockchain-as-a-service solutions. These initiatives aim to revolutionize traditional business operations and IT systems, bringing about a resilient and sustainable future for all.
