Friday, October 7, 2022

China’s Fuzhou City Taps CasperLabs as its Preferred Blockchain Service Provider

The Chinese city of Fuzhou has tapped CasperLabs, the startup behind the Casper Network as its preferred blockchain infrastructure service provider. According to the announcement, Casper Network will now feature prominently in the Fuzhou City Chain, a technological infrastructure for the city that is part of the brainchild of China’s Blockchain-based Service Network (BSN), an initiative founded in 2019.

“We are happy to bring the Casper Network into the Chinese market as a permissioned chain. Developers and companies will soon be able to access Casper technology through BSN to deploy their applications. We will also initiate a trilateral partnership between Fuzhou City, BSN, and the Casper team to set the stage for Fuzhou chain for business opportunities in China,” said Yifan He, CEO, Red Date Technology and Director, BSN Development Association. 

Per the announcement, the agreement was confirmed by both Fuzhou City officials and CasperLabs executives to sign an NFT-based agreement as a sign of commemoration. With the partnership, Fuzhou will adopt the Open Permissioned Blockchain Adaptation (OPB) that is being developed by CasperLabs, and coupled with the BSN’s technological capabilities, help Fuzhou developers build enterprise applications and softwares for more commercial usage.

“This partnership provides the Casper Network with the opportunity to bring new blockchain capabilities, advice, and support to the people of Fuzhou. By partnering with Casper, the BSN gains from Casper’s scalability, security, and decentralization. The use of (OPB) eliminates the use of cryptocurrencies to pay for gas fees. All combined, this makes it much simpler for developers in and around Fuzhou to generate public and private blockchain applications at a lower cost,” said Mrinal Manohar, CasperLabs CEO, and co-founder.

Fuzhou and CasperLabs Heralding the Emergence of Blockchain-Powered Cities

The partnership between Fuzhou City and CasperLabs comes off as a pioneering trend for the blockchain ecosystem. While blockchain startups are known to collaborate more with mainstream corporations who wish to revamp their database and general offerings, collaborations with cities are not so common.

However, blockchain-centric nations are gradually coming to realize the potential of blockchain technology, and many are gradually teaming up with innovative protocols in the emancipation of their blockchain integration strategies. For China, in particular, more than 10,000 blockchain companies were registered in 2020 despite the coronavirus pandemic, a move that signified more distributed ledger-focused initiatives will be rolled out in the coming years.

Godfrey Benjaminhttps://cryptomarketsbeat.com
I'm just a nerd who wants the world to know about the unique capabilities of blockchain and digital currencies

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