China to release infrastructure for non-cryptocurrency NFTs
According to the South China Morning Post, this month China’s state blockchain Blockchain Services Network (BSN) will introduce the infrastructure to support NFTs that have nothing to do with cryptocurrencies.
The CEO of Red Date of parent company BSN said NFTs will be widely used in China in the next five years, but the government does not want the technology to be associated with cryptocurrency or operate on public networks without permission.
For this, the BSN-Distributed Digital Certificate (BSN-DDC) infrastructure was developed. It provides APIs for companies and individuals, allowing them to create their own custom sites or applications to manage NFTs. You can only use the Chinese yuan to pay for online purchases.