Seven Stars Cloud to Launch ABST in Q4 2017
Seven Stars Cloud Group Inc. has 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 two 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 and 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., being an approved and licensed FINRA- and SEC-regulated electronic trading platform with operations in Delaware.
NextGen, which SSC announced the purchase of 51 percent of on June 12, 2017, is powered by DBOT's platform, trading system and technology. 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.
