“Considering the whole industry is still in its preliminary stage, BSN has a long way to go,” Liu said. “It’s expensive to build a blockchain. Different platforms have different structures. Data are not interchangeable. Relevant projects are hard to promote. These problems have yet to be addressed by BSN.”
Last year was a big year for blockchain projects in China after President Xi Jinping called for further development of the technology at the end of 2019, but the country continues to shun cryptocurrencies like bitcoin.