CasperLabs Gets An Unique Opportunity To Provide Blockchain Solutions For Fuzhou

2022-01-21 23:15:21
CasperLabs Goes To China

One of the leading companies for blockchain software, CasperLabs, revealed that it will become an official blockchain addition for the city of Fuzhou, located in China. As per the official statement, CasperLabs enter China via a deal with the state-owned Blockchain-based Service Network (BSN).

In order to commemorate this deal fittingly for a blockchain venture, the partnership deal was minted in form of a non-fungible token. And according to the details of the agreement, CasperLabs will be added to the Fuzhou City Chain, where it will be available for both private and public crypto projects and developments.

The project bears the name ‘Fuzhou Chain powered by Casper’, and it wouldn’t be possible without RockTree Capital who brokered the deal. RockTree Capital is a United States investment company that operates from New York.

The OPB Protocol

According to Mrinal Manohar, the co-founder and CEO of CasperLabs, their technology will greatly assist the city of Fuzhou in solving its blockchain issues. Moreover, this is an excellent opportunity for both CasperLabs, and consequently for BSN’s extensive network of public city nodes as well.

By partnering with Casper, the BSN gains from Casper’s scalability, security, and decentralization. The use of OPB eliminates the use of cryptocurrencies to pay for gas fees. All combined, this makes it much simpler for developers in and around Fuzhou to generate public and private blockchain applications at a lower cost.Mrinal Manohar | Co-founder and CEO of CasperLabs

Consequently, the goal of the BSN is to use CasperLabs’s open-permission blockchain (OPB). By using the OPB protocol, the BSN hopes to completely abandon the use of cryptocurrencies in order to pay for the gas fees.

Considering that the BSN installed public nodes across 120 cities in China, it looks like the partnership with CasperLabs comes definitely at the right time. Especially if we take into account the somewhat unorganized way that the BSN currently processes crypto transactions.

Thanks to becoming the official blockchain addition for Fuzhou,CasperLabs will get an unique insight as to how China deals with blockchain issues, first-hand. And that will definitely help Casper’s reputation even further.

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