China's national platform BSN, designed to create DApps and issue tokens, is preparing a universal payment network (UPDN) for making payments in digital currencies.
UPDN is currently in the planning stage, and the full launch of the solution will take place within five years. In this case, various companies and financial institutions will be able to connect to the network through software interfaces (API).
The developers said that the connection will be available for "any information system, including the systems of banks, insurance companies and mobile applications.
Systems connected to the network will be able to make payments in "standardized digital currency. This includes China's national digital currency as well as similar projects in other countries.
Third-party blockchains, including Polkadot, Oasis and Bityuan, are connecting to the Blockchain Service Network (BSN). This year, Chinese platform executives hope to connect BSN with 30 third-party networks.
Last September, BSN announced support for the DAML smart contract language, developed by startup Digital Asset. With DAML, third-party developers can deploy decentralized applications on the BSN network.