WeBank Named in Gartner "The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally"

SHENZHEN, China, Feb. 5, 2021 /PRNewswire/ -- WeBank named in Gartner's report "The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally"¹ in 2020.

According to Gartner¹, "The China blockchain service network (BSN) is a technical infrastructure designed to support and enable the majority of blockchain applications in the Chinese market and provide the backbone infrastructure for commercial activity. It can be regarded as a new internet protocol to facilitate trusted data, value and asset sharing between computer nodes. Gartner believes that from a policy objective, the BSN aims, in particular, to accelerate smart city developments — including activities involving Internet of Things (IoT), artificial intelligence (AI), payments, government processes and the digital silk road initiative."

As in 2019, together with Hyperledger Fabric, WeBank's consortium blockchain platform FISCO BCOS has joined the BSN as the only two officially certified licensing frameworks. The adaption of FISCO BCOS on BSN was completed in April 2020. Currently, many projects within the FISCO BCOS ecosystem are selected for BSN's official designated applications.

Gartner also identified WeBank as a sample vendor in terms of blockchain in government in the Hype Cycle for Smart City and Sustainability in China, 2020². In 2020, WeBank applied its open-source blockchain technologies to on application scenarios, such as "The Green Mobility Inclusive Platform." It aims to effectively promote the trusted data circulation and integration of public welfare data, helping to enhance the efficiency of industry-wide collaboration.

Also, responding to the global challenge of COVID-19, WeBank has actively fulfilled its social responsibilities. With its open source blockchain technology, WeBank supported the mutual recognition of cross-border blockchain health code between Guangdong and Macau. By the end of December 2020, the health code system has supported 300,000 daily customs clearances and a cumulative total of 38 million customs clearances, which greatly helped the resumption of work and production during the pandemic.

Source:

¹. Gartner, The China Blockchain Service Network: A New Digital Infrastructure to Accelerate and Challenge Digital Commerce Globally, by David Furlonger, 31 August 2020

². Gartner, Hype Cycle for Smart City and Sustainability in China, 2020, by Milly Xiang, Uko Tian, Kevin Ji, 31 July 2020

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.