NEW YORK, Dec. 22, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), Chairman and CEO Bruno Wu announced today a brief update on the Company's vision, and specifically on how it relates to Blockchain:
"Seven Stars Cloud is a next-generation Artificial Intelligence and Blockchain-Powered Financial Technology Company that offers supply chain and digital finance solutions aiming to disrupt and consolidate supply chain finance, risk management and asset-backed digital securitization. Focusing on Blockchain for a moment I want to be very clear and concise on how Blockchain is powering Seven Stars Cloud business models."
"With any game-changing emerging technology there is always an adoption curve but also a steep learning curve. Throughout history, from the wheel, to the printing press, to the internal combustion engine, to the internet, to smartphones, this has always been the case and will continue to be so until the end of time. In the case of the ingenious technology, Blockchain, a major part of the learning curve has to do with Blockchain's seemingly tethered existence to Bitcoin. It is therefore not difficult to comprehend why the terms 'Blockchain' and 'Bitcoin' often get confused since Blockchain serves as a platform for cryptocurrencies; without Blockchain there would be no Bitcoin."
"However, Seven Stars Cloud is in no way a Bitcoin-related company and it must be highlighted that the opportunities and possibilities of Blockchain extend far beyond the world of cryptocurrencies. Although initially created for Bitcoin, Blockchain provides a more secure and transparent way of managing all kinds of data and therefore, the numerous applications and uses of this technology are infinite. What makes Blockchain unique is that it does not require an intermediary to overlook transactions, the digital database is itself dispersed and decentralized, it can run on numerous computers and it can be updated in real-time. Combining all of these features makes Blockchain much more resistant to cyber-attacks and reduces certain institutional and systemic risks that occur in all facets of business."
"In this case of Seven Stars Cloud, we are applying Blockchain and Artificial Intelligence to create a hybrid solution for supply chain finance, risk management and asset-backed digital securitization. And these are only the first massive opportunities and markets we are targeting, with more plug and play opportunities to be announced in 2018."
"With the highly experienced, cross-generational, multinational and complementary-skilled management team that has been assembled, led by myself and President & Chief Revenue Officer Robert Benya, Seven Stars Cloud is primed for continued growth through the evolution of the applicability of our technology and offerings, both far and wide."
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
VP, Investor Relations
Seven Stars Cloud Group, Inc.
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SOURCE Seven Stars Cloud Group, Inc.