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.
CONTACT:
Jason Finkelstein
Seven Stars Cloud Group, Inc.
212-206-1216
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SOURCE Seven Stars Cloud Group, Inc.