Red Date Technology, located in Hong Kong, has successfully managed to complete a fund-raising round, stacking over $30 Million in funds in the bag.
Red Date mentioned the leading companies and organizations that participated in the funding round that included Kenetic Capital and Prosperity7, originating from Saudi Aramco’s venture reach. More investors contributing to the funding included Swiss-based Financial Groups Giant, Pictet, and Thailand’s Bangkok Bank.
About Red Date Technology and BSN
Red Date technology is a startup company that is responsible for the research, development, operation, and maintenance of China’s blockchain service network, as they are one of the founding members of the developmental project. Red Date Technology was founded back in 2014 and is one of the top technology providers for the development of smart cities in China, that is also partnered with giants such as China Mobile and Chinese UnionPay.
Red Date Tech released BSN back in April of last year. BSN is a service platform that helps decentralized application developers to build apps by providing them access to both private and public blockchains, meanwhile also letting them complete transactions using supported cryptocurrencies. As for the BSN domestic platform, it has removed the gas fee token layer by switching from crypto-based deals to standard Yuan currency.
The company facilitates developers by preparing important resources for them in advance as a way to help in the reduction of cost and entry threshold for Decentralized applications. Red Date currently has support for a few blockchains that include, Ethereum, Polkadot, Hyperledger, and a few others. Red Date also has the support of the Chinese State Information Center, which works under the National Development and Reforms Commission.
Words from the CEO
CEO of Red Date, Yifan He expressed his opinions about the industry, saying that the Golden Age of the Internet would only come if the cost of web development would become almost nothing. Yifan also said that this current blockchain industry is very disintegrated and seems like a workaround of secluded chains and spread-out ledgers.
Furthermore, Yifan gave positive remarks about Red Date, saying that Red Date’s intention is to help in the development and expansion of the global market on BSN by taking advantage of the dual governance model for all of its networks, including local and international.