Vitalik Buterin doesn’t consider the Chinese national blockchain network a competitor to Ethereum

The developer shared his opinion on the Chinese project in the interview.

Ethereum co-founder Vitalik Buterin believes that it will be difficult for the Chinese authorities to achieve the international popularity of their national blockchain network (BSN). The developer shared this point of view during an interview for TechNode.

Buterin said that project representatives must gain the trust of potential users for BSN to be internationally approved. What Chinese developers are currently offering is not enough, in his opinion. Vitalik Buterin also drew attention to the high level of centralization of BSN. Users of the project, in his opinion, run the risk of becoming dependent on the decisions of its managers.

“If we look at the issue in an international context, it is impossible to assume that there is at least one government on the planet, which would be trusted by everyone. At the same time, there are public blockchains, which are perceived by many as neutral, ”Vitalik Buterin explained his point of view, opposing the close to centralized type of BSN governance to truly open blockchain projects.

The project representatives, despite the problems identified by the developer, are confident that the initiative will have a positive impact on the speed of adaptation of the blockchain in the world.

Recall that the launch of the national blockchain network of the PRC took place in April 2020. One of the objectives of the project is to bring together specialists around the world. In order to attract them, BSN representatives intend to give potential users access to unique tools for software development. For example, the participants of the Chinese national blockchain network will be offered technical solutions thanks to which the creation of dapps (decentralized applications) can become 90% cheaper. BSN is being developed by specialists from the Beijing startup Red Date Technology.

According to Vitalik Buterin, the BSN problem can be solved by focusing on the creation of public networks in order to reduce the level of centralization of the project. At the same time, the developer noted that he does not see a competitor to Ethereum in the Chinese project. BSN, in his opinion, is “another layer”.

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