(Bloomberg) — The blockchain world today is thousands of disparate platforms that can’t talk to each other. So a little-known startup hatched one of the most ambitious plans yet to bridge all the divides — and it’s got the backing of the Chinese government.
Beijing-based Red Date Technology is at the heart of China’s first state-backed blockchain initiative, envisioned as a one-stop hub for developers to build decentralized applications (dapps) for everything from money transactions to drug-delivery tracing. Think of it as the crypto-world equivalent of a cloud service like Amazon Web Services or Microsoft Azure that hooks up and supports a multitude of software and platforms. Since its April roll-out, the Blockchain-based Service Network (or BSN) has attracted more than 6,000 enterprise, government and individual users primarily from China.
Red Date, backed by the nation’s top economic planner, is the mastermind of the undertaking. The startup’s goal is to