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Future FinTech Group (NASDAQ:FTFT) launches blockchain-based e-commerce product

Tony Zerucha

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Future FinTech Group (NASDAQ: FTFT), a financial technology company and an integrated producer of fruit juice related products, today announced the formal launch of GlobalKey SharedMall, also known as Chain Cloud Mall (CCM) version 1.0.

Since the trial operation from Dec. 26, 2018 to present, CCM has attracted more than 1,000 users and revenue has reached over RMB 990,000 (approximately $144,525). The operation of CCM is currently in good condition and APP download service is available for users.

Based on blockchain technology, CCM is established to be an e-commerce and shared platform of shopping, shared economy, reward points and community economy, which integrates manufacturing enterprises, traditional e-commerce, Wechat business, We-media and physical stores.

For consumers, commodities are directly supplied by manufacturers without mark-ups from distributors which also have to pass a strict quality check and qualification verification by the mall. Furthermore, with the anti-fake technology of QR, counterfeit products will not be presented on the mall, the company said in a release.

For merchants, the platform will not withhold their revenue for its own cash flow purpose. The merchants can withdraw their sales revenues from the mall without delay which will help merchants’ cash flow for their own businesses.

For manufacturers, promoters and agents, there is no agent commission or other threshold to provide products or services on the mall. They can make profits based on their products, services and other competitive advantages.

“The successful launch of CCM v1.0 demonstrates its capability of providing speedy, convenient and secure services for users. With all functions being further improved, GlobalKey SharedMall is making every effort to benefit its users and maximize the return on investment of users who trust GlobalKey SharedMall.” FTFT chairman and CEO Yongke Xue said.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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