Future FinTech Group Announces Cooperation with Chifeng Supply and Marketing E-commerce Co., Ltd. to Develop a Blockchain Contract Farming Platform

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Nov 18, 2019, 08:30 ET

XI'AN, China, Nov. 18, 2019 /PRNewswire/ -- Future FinTech Group Inc. (FTFT) ("Future FinTech", "FTFT" or "the Company") today announced cooperation with Chifeng Supply and Marketing E-commerce Co., Ltd. ("Chifeng Supply and Marketing Company") to develop a blockchain contract farming platform focusing on sheep farming.

Contract farming is defined as a sales arrangement of certain agriculture products between a customer and a farmer before production begins and it establishes conditions for the production and markets for farm products. By connecting the consumers and farmers directly, contract farming can offer farmers an assured market and offer consumers higher food quality and safety. The first phase of the blockchain contract farming platform will focus on sheep farming in Chifeng. Future FinTech agreed to utilize its technology to develop and provide the real-name blockchain platform for the contract sheep farming. Chifeng Supply and Marketing Company will consolidate local farmers and resources to transform them into standard sheep farming.

By building a blockchain contract farming platform, every sheep farming process will be carried out by a real-name farmer and record on the blockchain. Consumers would be able to track the whole standard sheep farming process.

"We are glad to cooperate with Chifeng Supply and Marketing Company to develop the blockchain contract farming platform. It is our first project in the agriculture industry and we believe this blockchain contract farming model has great market potential. We look forward to making the sheep farming project a success," said Mr. Yongke Xue, Chief Executive Officer and Chairman of Future Fintech.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is incorporated in Florida and engages in fruit juice and blockchain based e-commerce businesses. The Company engages in the operation of a blockchain based online shared shopping mall platform and also operates an incubator for application projects using blockchain technology. FTFT and its subsidiaries are developing blockchain technology for a variety of B2B and B2C real-life applications including the distribution, marketing and sale of consumer products. The Company is also developing financial technology business to stay ahead of the changing industry. For more information, please visit http://www.ftft.top/.

Safe Harbor Statement

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SOURCE Future FinTech Group Inc.