Blockchain consortium tackles operationalization issues

Imagine if cloud computing operations were decentralized. And what if a network of data centers is not operated by a single entity (e.g. AWS or Alibaba Cloud), but by a consortium of operators working together via public blockchains?

Global operators within the consortium have equal rights to decide on service levels, pricing and management of these cloud services. It will provide greater operational transparency with easier access to a greater volume of interoperable computing resources for its customers. Users can also access these cloud services via smart contracts for better traceability and agility of their usage. This is what the Blockchain-based Service Network (BSN) wants to implement.

China-based BSN launched the BSN Spartan Network for international markets last week. BSN Spartan Network is building a consortium of blockchain technology providers and aims to use non-cryptocurrency (NC) public chains to create a one-stop blockchain operating environment where businesses can easily develop, deploy and manage blockchain applications .

“The purpose of the BSN Spartan Network is to build an easily accessible public IT network comprised of multiple public NC chains to bring blockchain technologies well beyond cryptocurrencies to the broader IT industry,” the whitepaper of the network.

BSN Spartan Network is still in beta. But it has attracted some big companies including Emperor Group, Prenetics, Lan Kwai Fong Group, Maxim’s, HSBC and Fujifilm Business Innovation Hong Kong to explore building digital services via this blockchain-based consortium.

Tokenized gift redemption

Celebrating his 80thth Anniversary, Emperor Group is a retail focused conglomerate with a

wide range of businesses from watches and jewelry, real estate development and financial services to entertainment, digital media and hospitality.

According to its Group Chief Information Officer Leo Tsang, the company continually uses technology to create value for its customers. One of the latest initiatives is the use of blockchain and NFTs for customers to redeem movie souvenirs and awards. The service, to be rolled out in upcoming film promotions, aims to offer customers a digitized gift-redemption experience and provide better traceability for the cinema’s loyalty program, which offers 4,000 gifts a month.

“Everyone likes to watch a movie; So it’s a great starting point to introduce this technology to our customers and our companies,” said Tsang. “The NFTs are intended for verification when redeeming gifts and not for trading. But customers are welcome to keep them as a reminder.”

He added that this is the company’s first blockchain project. With NC Public Chains at BSN Spartan Network, Tsang said the company can create NFTs without worrying about volatile cryptocurrency prices.

“We can never issue cryptocurrency-based NFTs like Ethereum because the costs will be too high and volatile,” he said. “This is just the first step for our customers and us to become familiar with NFTs. We can later build on this experience and scale it to develop other applications within the group.”

Possession of health data and payment processing

In addition, Prenetics, a genetic and diagnostic health testing company, is investigating the use of the BSN Spartan Network to enable its customers to better own their personal health information.

Peter Wong, Chief Technology Officer, said at the BSN Spartan Global Summit that Prenetics is creating a platform that allows an individual to provide third parties such as hospitals, clinics or airports with legitimate access to their health diagnostic reports. These reports would be stored in the person’s private data vault within the blockchain-enabled platform.

“When customers share their reports with third parties, the content cannot be modified, but can be verified by Prenetics,” Wong said. “You can also choose to share only the relevant test results instead of all reports.”

For better documentation transparency, Fujifilm Business Innovation Hong Kong (FBHK) is also exploring the use of blockchain with BSN Spartan Network to build a service that securely stores and tokenizes digitally signed documents.

Alan Chan, director of marketing & supply chain management at FBHK, said the company plans to create semi-fungible tokens (SFTs) for the digitally signed documents to enable full traceability and enhanced security. It also lays the foundation for future automated execution of smart contracts and business flows, such as B. the processing of payments.

Realizing Web3 with public NC chains

Positioned as a decentralized cloud service network, BSN Spartan Network is being developed by Red Date Technologies. The Hong Kong-based company’s CEO, Yifan He, said it aims to build public IT system infrastructures such as BSN Spartan Network for Internet communications, digital economies and the metaverse.

“The essence of Web3 is decentralization, with blockchain and smart contract as the crucial element in governing and executing its operations,” said Emperor Group’s Tsang.

But it has been difficult for companies to get involved with Web3 or adopt blockchain by relying on the highly volatile cryptocurrency. Tsang added that the main reason the company decided to launch its first blockchain project with BSN Spartan Network is because of its NC chains.

In addition to BSN Spartan Network, BSN launched the Chinese version of a similar network, BSN-DDC Network, earlier this year. According to Tim Bailey, vice president of global sales, Red Date Technology, it processes more than a million transactions daily, demonstrating the potential of its international version.

Bailey added that the BSN Foundation, the governing body of the BSN Spartan Network consortium, currently has five members, including Red Date Technology. The number of members is expected to reach 10 by the end of 2022 and eventually up to 40. This decentralized operation with NC Public Chain aims to support general businesses and their IT and digital teams with more accessible and affordable blockchain technologies, according to He.

“It [BSN Spartan Network] is not technically a blockchain but a cloud project,” said He. “The entire BSN organization aims to promote a public IT system concept to enable mainstream enterprises and IT operations to use public chain technologies.”

Sheila Lam is Associate Editor of CDOTrends. She has been a journalist covering IT for 20 years and has witnessed the emergence, hype and maturity of various technologies but is always excited to see what comes next. You can reach them at [email protected].

Credit: iStockphoto/monsitj

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