The Launch of BSN Foundation
The BSN Foundation, a global blockchain infrastructure organization based in Singapore, has officially announced its launch with five international founding members on Nov. 16. The founding members include Blockdaemon, Zeeve, Toko, GFT Technologies, and Red Date Technology.
Governing Body of BSN Spartan Network
The newly formed BSN Foundation will govern the BSN Spartan Network, which is a public infrastructure network based on the open-source BSN Spartan data center software. This launch marks a significant milestone in the foundation’s global expansion and its goal to set a new international standard for decentralized IT infrastructure.
Global Recognition and Support
According to Tim Bailey, the vice president of global business at Red Date Technology, the launch demonstrates international recognition and support for the BSN Spartan Network’s concept and goals. Organizations from various regions worldwide have participated in the foundation’s launch, bringing expertise in areas like blockchain-as-a-service, asset tokenization, financial services, and consulting.
Redefining Public Chain Technology
The BSN Spartan Network aims to shift how public chain technology is utilized and governed by focusing on non-cryptocurrency public chains and a decentralized governance model. This approach ultimately aims to create a more stable and accessible network for businesses worldwide, moving away from the volatility associated with traditional cryptocurrencies like Bitcoin (BTC).
BSN Spartan Network Features
Launched in September 2022, the BSN Spartan Network features a non-tradable token (NTT) issued on its default chain. Each BSN Spartan data center has only one registered NTT wallet to manage and hold NTT, which can be purchased with fiat currency or stablecoins or acquired through incentive programs.
Distinct from BSN Networks in Mainland China
The BSN Spartan Network, governed by the Singapore-based BSN Foundation, is distinct from the BSN Networks in mainland China. It operates using international standards, is completely open source, and operates separately from the networks in mainland China.
Hot Take: The Future of Decentralized IT Infrastructure
The launch of the BSN Foundation marks an important step in redefining decentralized IT infrastructure globally. With international recognition and support from various organizations, the BSN Spartan Network is poised to set a new standard for public chain technology governance while providing a stable and accessible network for businesses worldwide.
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