When your country’s government bans cryptocurrencies while promoting the underlying blockchain technology to the hilt, even as it threatens to regulate the industry, what’s a blockchain consortium to do?
Well, it could create a coinless blockchain. The Financial Blockchain Shenzhen Consortium, or Fisco, one of China’s largest blockchain consortiums, has as members some of the country’s biggest companies including WeBank and tech giants Tencent and Huawei. Where there’s a blockchain will, there’s a way.
According to Fisco’s press release, BCOS is an open-source platform that combines the functionality of a permissionless blockchain with a coinless framework. It was built “to meet the regulatory requirements and service demands of the financial industry.”
BCOS will make its international debut at the Singapore Fintech Festival Nov. 12–14.