Baofeng Group (Shenzhen Stock Code: 300431) subsidiary Beijing Baofeng Xinying Technology signed a strategic partnership with Metaverse on 25 December 2017. As strategic partners, both parties will jointly research and develop the Blockchain Consensus Network (BCN) as well as Blockchain-as-a-Service architecture, with the aim of expanding blockchain technology applications.
According to the terms of the partnership, Metaverse will provide technical support for full nodes for Baofeng Bokocloud and assist with upgrades to their consensus mechanism and incentive model. Baofeng Xinying will also be appointed as an honorary member of the Metaverse Foundation, and help enrich the Metaverse ecosystem with resources built on the BCN. Their architecture will support Metaverse’s full nodes and all future versions of the Metaverse blockchain. Baofeng Xinying will also provide a range of BCN services including system setups, network commissioning and 24/7 technical support for Metaverse to ensure the security, stability and performance of the Metaverse blockchain network.
Metaverse is the first public blockchain project to propose the concept of digital identities. Digital identities will be based on Metaverse’s unique blockchain ecosystem, with use cases built around the functions built into the Metaverse blockchain, Blockchain-as-a-Service and Metaverse wallets, and are capable of providing verification and authentication functions for various industries.
About BFC Bokocloud
Launched by Beijing Baofeng Xinying Technology, a subsidiary of Baofeng Group (Shenzhen Stock Code: 300431), Baofeng Bokocloud is the world’s first Blockchain Consensus Network (BCN) platform. With a focus on blockchain technology, large file delivery networks and the commercial and home video services market, Beijing Baofeng Xinying Technology has a wealth of practical experience and technical knowledge in the areas of large-scale and high-concurrency distributed file systems. Baofeng Group is a public company listed on the Shenzhen Stock Exchange. With over 300 million users worldwide, it offers a wide range of products and services including the Baofeng Online Video Service, Baofeng Magic Mirror VR, Baofeng Sports and Baofeng Internet TV.
Metaverse is a leading public blockchain based in China. Designed to facilitate low-cost, convenient transfer of digitized personal data and assets with unprecedented security and privacy, Metaverse aims to revolutionize the way financial services and transactions are processed and to improve outdated and inefficient identity verification services with a network of Digital Assets, Digital Identities, and Oracle Intermediaries.