NEW YORK, Sept. 28, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company" or "Seven Stars Cloud") today provided several updates on its aforementioned Asset-Backed Securitization, Tokenization and Exchange Platform ("ABST") and announced the platform's launch in Q4 2017. For the time being, the platform will launch in China excluding the tokenization module but will launch globally (ex-China) with the tokenization module.
As a reminder, there are 2 key cloud-based engines that will power SSC's Intelligent Industrial Internet ("3I") business solution and platform for business and trade enterprises. Both of these engines will function to provide industrial clients with a closed exchange ecosystem for buyers and sellers designed to eliminate supply chain and transactional hurdles. SSC's fintech-powered and supply chain finance 3I will ultimately help create a more direct, safer and margin-expanding trading path for all principals involved in a transaction.
Focusing on Engine #2 and specifically, ABST, SSC's platform will differentiate itself from others in several fundamental ways:
- Artificial Intelligence (AI) and Blockchain Core Technology: Blockchain, best known for the system underpinning Bitcoin, is a public ledger of transactions monitored by a network of computers. By allowing digital information to be distributed but not copied, blockchain technology formed the backbone of a new type of internet that can be used far beyond its original indented use. The ABST platform will use Blockchain to lessen the cost and complexity of arduous trade processes such as international payments and securities settlement as well as improve supply chain transparency, to name just a few of its benefits. By coupling it with AI technology (which finds rules, patterns and trade counterparts by crunching huge amounts of data that humans would ordinarily miss), SSC is creating the world's first AI+Blockchain Asset-Backed Securitization, Tokenization & Exchange Platform.
- Highly Regulated: Certain modules of ABST including Index issuance and exchange, ETF issuance and exchange, ABS issuance and exchange and Derivative issuance and exchange will be powered by Nextgen and DBOT, the latter, the Delaware Board of Trade Holdings, Inc. (http://dbottrading.com/), being an approved and licensed FINRA- and SEC-regulated electronic trading platform with operations in Delaware. NextGen, which SSC announced the purchase of 51% of on June 12, 2017, is powered by DBOT's platform, trading system and technology. Mr. John F. Wallace, the former Chairman of the Philadelphia Stock Exchange, Chairman of the Philadelphia Depository Trust and Vice Chairman of NASDAQ OMX PHLX is Chairman of DBOT and serves as Executive Chairman of NextGen.
- True Asset Flow: Many of the securities available through ABST will be backed by true assets that flow from Engine #1's industrial big commodity clients and sectors.
- Highest Level Encryption: Post-launch, and to be announced at a later date, ABST will partner with and be protected by, a world-leading technology platform that provides quantum encryption and cryptography. Simply put, ABST will be using a new technique of securing computer network communication channels. Quantum cryptography avoids any mathematical algorithm and uses principles of quantum physics which in turn can offer communication and transactions that are completely secure against being compromised.
About Seven Stars Cloud Group, Inc. (http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a leading Intelligent Industrial Internet (3I) platform, creating a fintech-powered, supply chain solution simplified for commercial enterprises. There are 2 Engines that drive our business platform: 1. VPaaS + TPaaS - Supply Chain Management for key industry sectors and leaders including but not limited to Big Commodities, Cross-Border Trade, Consumer Electronics & Energy; 2. Digital Finance Solutions - Supply Chain Finance underwritten by our Global Cornerstone Funds and ABS, Tokenization and Exchange Platforms, which include FINRA and SEC-regulated: Index Exchanges, Initial Coin Offering / Tokenization, ETFs and Derivatives. Both Engines and their various arms will run on 'BASE' technology and infrastructure (Blockchain, Artificial Intelligence, Supply Chain & Exchanges) to power a closed trade ecosystem for buyers and sellers designed to eliminate transactional middlemen and create a more direct and margin-expanding path for principals.
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.
Seven Stars Cloud Group, Inc.
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SOURCE Seven Stars Cloud Group, Inc.