Future FinTech Applied Blockchain Technology Related Software Copyrights with China Copyright Protection Center

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Jan 07, 2021, 08:00 ET

NEW YORK, Jan. 7, 2021 /PRNewswire/ -- Future FinTech Group Inc.(NASDAQ: FTFT, "Future Fintech", "FTFT" or "Company"), a leading blockchain based e-commerce company and a financial technology service provider, announced today that on December 31, 2020, China Copyright Protection Center ("CCPC") has accepted the Company's application for ten software copyrights relating to blockchain technology applications, which the Company first submitted for CCPC's review in June 2020.

The Company has been developing and improving an anti-counterfeiting and tracing system by using the blockchain technology for its blockchain based e-commerce platform Chain Cloud Mall (CCM). The system not only issues unique anti-counterfeiting QR codes to trace the products and ensure their authenticity, it also provides anti-counterfeiting points to consumers. After consumers are rewarded with such points, they can receive discounts and other benefits, and ultimately realize "no counterfeit in the CCM, value-added shopping experience, and more traffic and business for the stores in CCM."

With the research, development and improvement of software used in the anti-counterfeiting and tracing system with the blockchain technology, the Company has developed ten software with blockchain technology that is apply for copyrights. They are: 1. blockchain credit points discount settlement system; 2. blockchain credit points circulation monitoring system; 3. legal currency and credit points synchronization settlement system; 4. blockchain credit points flow system; 5. agent automatic profit distribution system; 6. agent automatic tax deduction and accounting system; 7. manufacturer automatic accounting system; 8. e-commerce and blockchain anti-counterfeiting linkage system; 9. blockchain discount and promotion automatic balance system; 10. blockchain real-name authentication and legal responsibility system.

In recent years, blockchain applications have been more and more used in the real life and daily economics, such as traditional manufacturing, e-commerce, financial industry to save transaction and labor costs, reduce the raw material consumption, simplify the payment process.

Zhi Yan, General Manager of the CCM said, "The system we built is simply a blockchain based credit point reward and settlement center for our online shopping mall. Anti-counterfeiting and rewarding system in e-commerce is only the first application of this technology. Our supply chain system, contract farming system, and order management system may also use this technology. Our application of software copyrights will protect our intellectual property rights and help us further improve the blockchain based system of CCM."

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://www.ftftex.com/.

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SOURCE Future FinTech Group Inc.