Blockchain Service Network - a Digital Extension of the Belt and Road Initiative

During 2020, the Chinese government launched an initiative to create a global blockchain-based network, which would serve as a framework for the development of business applications. The project was named the blockchain service network (BSN). It is complementary to the Belt and Road initiative, as both projects aim to build global infrastructure, which would enable acceleration and increase in trade volumes, creating above all an opportunity for international partnerships for Chinese companies. The subject of the paper is the position that BSN will occupy in the international business environment. Paper has objectives to determine what advantages BSN could enable as a global network of blockchain applicationsand to predict the reaction of key international actors to its emergence. It is concluded that the key advantages of the initiative are cost savings, accessibility and use flexibility. On the other hand, the project will inevitably face serious issues when it comes to the acceptance at the international level. Distrust in data security and the fact that the whole project is initiated by the Chinese government can discourage potential clients.