Red Date Technology, Architect Behind the Blockchain-based Service Network (BSN), Closes Landmark ‘Series A’ Funding

HONG KONG, June 9, 2021 / PRNewswire / – Red Date Technology, the architect behind the world’s largest blockchain connectivity network, the Blockchain-Based Service Network (BSN), announced completion $ 30 million Series A Equity Financing

The round was led by Prosperity7 Ventures (Aramco Ventures’ diversified growth fund) and Hong Kong-based blockchain investment firm Kenetic. Other participants are Bank Pictet (Switzerland), who invest on behalf of their clients, and Bangkok Bank.

According to Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures, “The BSN is a breakthrough initiative that can accelerate both the development and adoption of blockchain technology and applications. We are very excited to be supporting Red Date and being part of the BSN initiative and creating the positive value it will have. “

The BSN is a global network that enables connectivity between public and private blockchains. It reduces costs and improves flexibility, interoperability and efficiency, and makes blockchain services accessible to SMEs and individual developers worldwide.

According to Yifan He, CEO of Red Date: “The golden age of the Internet only became possible when the cost of building websites was reduced to near zero. The BSN makes the cost of building and running applications exceptionally low, with the added benefit of multi-frameworks and interoperability. and larger customer bases. “

“The BSN is the foundation for the global adoption of blockchain and will be successful through an alliance of public and private partnerships and technologies, supported by a world-class engineering team and unparalleled corporate and sovereign support.” Jehan Chu, Founder and managing partner of Kenetic.

The BSN International, the umbrella organization of the global network outside China, is established as a established Singapore-based foundation and is led by a consortium of multinational corporations and financial institutions to ensure that the global network is operated according to international standards. Regardless of this, the BSN development association of China will operate and manage the domestic onshore network in full compliance with local laws and regulations.

As part of its commitment to transparency, the BSN codebase will be made fully accessible to the public within the foundation within 3 years.

“For BSN to be successful worldwide, the leadership and development of BSN International must be open and transparent. This is an area in which our international shareholders and partners can provide strong support.” He added.

SOURCE Red Date technology