PALO ALTO, Calif., Feb. 9, 2021 /PRNewswire/ -- Findora, a decentralized financial technology provider, today announced its partnership with BSN (Blockchain-based Service Network), the Chinese government-backed blockchain infrastructure provider.
The agreement will allow Findora to integrate BSN's technology via API and SDK into the network infrastructure, as its partner incorporates Findora's auditable and confidential blockchain into its developer offerings.
BSN was launched in April of last year to offer a unified blockchain ecosystem that allows developers to install low-cost, high-bandwidth cloud storage facilities, among other great benefits.
Yifan He, Executive Director of the BSN Development Association and CEO of Red Date Technology noted regarding the association that "data privacy and the protection of individual financial assets is of vital importance in a modern digital world. We are proud to attract partners like Findora that leverage blockchain technology in financial services to enable reliable data transactions and protect privacy ".
BSN was co-founded by state telecom giant China Mobile, UnionPay, and fintech Red Date. Its goal is to create a single domain that allows blockchain networks worldwide to communicate and operate with each other, in a unified ecosystem.
Through the Findora blockchain, BSN hopes to be able to offer users inside and outside China, the technology necessary for financial applications that preserve privacy and solutions demanded by global financial institutions such as the issuance and transfer of traceable financial assets, thanks to the zero-knowledge technology applied by Findora on its blockchain.
In this sense, the award-winning Dr. Whitfield Diffie, a member of the Findora Advanced Research Institute pointed out that both companies share "the same vision of the future of global decentralized financial infrastructure".
"Integrating with BSN and its universal blockchain service network is an important step in enabling individuals and businesses of all sizes to control their own data, identity, and financial assets."
Findora is an open private financial network that is democratically secured by a decentralized network of global organizations and economically incentivized parties.
FINDORA is backed by the research of renowned academic institutions such as Stanford University and was founded by the late John Powers, a visionary who previously served as CEO of Stanford University's $ 25b endowment fund.
BSN was co-founded by China's state telecommunications giant China Mobile, UnionPay, and fintech company Red Date Technology in April 2020. The project aims to provide cloud services and a standardized development environment for blockchain developers.
SOURCE Findora Foundation