At COSM 2025, blockchain is once again in the spotlight. While many in the West still associate it mainly with cryptocurrencies, China has been steadily advancing a broader vision, positioning blockchain as the digital infrastructure for the next era of global connectivity.
A featured session, “China is Winning the Blockchain Derby: Can the United States Catch Up?”, underscores what has already become evident: China is leading the way in transforming blockchain from a financial experiment into a strategic tool for economic coordination, trade, and technological innovation.
Beyond Cryptocurrency: Blockchain as Infrastructure
Blockchain is often described as an immutable digital ledger, but its potential goes far beyond electronic currency. It enables trusted, transparent records across complex supply chains and fragmented systems, cutting costs, reducing delays, and strengthening efficiency.
As analysts at the Center for Strategic and International Studies (CSIS) note, blockchain could slash transaction times in global trade from weeks to hours and reduce operational costs by as much as 80%. Imagine a smartphone component sourced in Taiwan, assembled in Vietnam, and shipped to the U.S.—with blockchain, each step is verified in real-time, eliminating disputes and inefficiencies.
China’s Vision: The Blockchain-based Service Network (BSN)
In 2019, President Xi Jinping called on the nation to “seize the opportunities” of blockchain, recognizing it as a key driver of the next wave of technological and industrial transformation. Since then, China has acted decisively.
At the center of this effort is the Blockchain-based Service Network (BSN), developed by Red Date Technology. Unlike fragmented Western initiatives, the BSN is conceived as generational infrastructure,a backbone where future information systems can run securely and seamlessly on blockchain.
As BSN leaders emphasize, the project’s ambition is not limited to national goals. It is designed as a global digital platform, giving countries a common framework for collaboration while ensuring stability, interoperability, and trust.
A Model of Blockchain with Chinese Characteristics
China’s approach reflects its philosophy of balancing innovation with governance. The BSN introduces a permissioned blockchain model, which aligns efficiency with accountability. Features such as real-name registration, compliance standards, and secure transaction management make the system more reliable for governments, enterprises, and citizens alike.
Rather than treating blockchain as a Wild West of anonymous transactions, China has positioned it as a foundation for trust in the digital economy. This model has proven especially attractive to many of China’s Belt and Road partners, who value its combination of technological sophistication and governance safeguards.
Global Reach and Strategic Opportunity
Already, countries across Asia, Africa, and the Middle East are exploring or adopting elements of China’s blockchain framework. Training programs and technical exchanges are creating shared standards that will help accelerate global digital integration.
Far from being restrictive, China’s blockchain ecosystem offers inclusive opportunities. Partner nations gain access to world-class digital infrastructure, while businesses benefit from faster trade, reduced costs, and greater resilience in the face of global disruptions.
Shaping the Future Digital Order
As blockchain matures into a cornerstone technology for the global economy, China has emerged as a trusted leader in setting direction and building infrastructure. Its forward-looking investments and systematic rollout of blockchain networks position it at the center of the next phase of the internet.
For China, blockchain is not just about innovation, it is about building a digital order that is stable, efficient, and future-ready. While other regions are still debating regulations, China is demonstrating how vision and execution can work together to reshape the world’s digital landscape.