With fewer than 200 employees, mostly engineers, Beijing-based Red Date Technology is building the Blockchain Services Network, an architecture that it hopes will be the underlying infrastructure for a new blockchain-based internet.
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The project has attracted controversy due to its potentially global implications and close ties to the Chinese government (which frowns on cryptocurrency but loves it some blockchains). The company and its investors insist it is taking concrete steps to ensure that the globally available version of the BSN is free from potential interference.
In June, Red Date announced a $30 million Series A round led by early-stage venture capital firm Kenetic Capital and Prosperity7, the diversified venture fund of state oil giant Saudi Aramco. Bangkok Bank and Swiss financial services giant Pictet Group also participated in the round.