Klaytn said on Tuesday it will take part in establishing the Chongqing Chain, a permissioned version of Klaytn, which intends to be the gateway into China’s blockchain market.
The BSN is a Chinese state-backed project that is split into two entities: BSN China and BSN International.
Klaytn joined BSN’s international network in January 2022.
The Chongqing chain is expected to become one of the open-permissioned blockchains on the BSN-DDC network, a non-cryptocurrency infrastructure for non-fungible tokens (NFTs), or locally referred to as “digital collectibles.”
BSN supports 28 blockchain frameworks with more than 25,000 developers using its technology.
China has yet to set clear regulations on the trading of NFTs, but Yifan He, CEO of Red Date Technology, the BSN developer, he sees a bleak future for digital collectibles if NFTs continue to be packaged as investment products.
