Future FinTech Group (NASDAQ:FTFT) news for Thursday concerning new copyrights in China has FTFT stock on the rise.
Here’s everything investors need to know about the news boosting FTFT stock today.
- The China Copyright Protection Center accepted ten software copyrights submitted by the company.
- Future FinTech Group originally submitted these copyrights back in June 2020.
- The copyrights cover software the company plans to use in connection with blockchain technology applications.
- FTFT is developing an anti-counterfeiting and tracing system with this technology.
- It’s going to use this software with its blockchain-based e-commerce platform Chain Cloud Mall.
- This has it offering QR codes to track possible counterfeiting efforts.
- At the same time, it awards anti-counterfeiting points to customers.
- Customers that earn enough points can use them on discounts and other benefits on the e-commerce platform.
- Future FinTech Group’s blockchain e-commerce efforts expand to more than just the Chain Cloud Mall.
- It also acts as a service provider for financial technology incorporated in Florida.
- The company also has a cross-border e-commerce platform as well as an incubator for blockchain-based application projects.
Zhi Yan, general manager of the Chain Cloud Mall, said this about the news boosting FTFT stock.
“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.”
FTFT stock was up 59.5% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.