Seven Stars Cloud, Inc. (SSC), a global fintech company focused on providing Artificial Intelligent (AI) and blockchain-based digital finance solution which partnered with New York-based Fundamental Interactions to create “Velocity Ledger” for blockchain-enabled tokenization barely two weeks ago has just announced a new collaboration with China Venture Capital Research Institution (CVCRI) to provide AI and blockchain-powered ecosystem for risk management to financial markets, according to a press release.
The Chinese VC Research Institute was founded in July 2003, and has since then, made significant positive contributions to China which include improving the nation’s investment policy ecosystem, promoting liaison between domestic and international finance industries, as well as financing promising startups.
The new deal between both firms will enable Seven Stars Cloud to create a digital environment for services like “AI-enhanced rating and risk management services, blockchain-enabled fractionalization, securitization, tokenization, and distribution and trading services through banks and security broker-dealer networks in China, with the ability to extend the sales and trading globally.”
As both firms continue to maintain the partnership, the SSC’s network will be upgraded to enable “tokenizing” of exiting Real Estate Investment Trusts (REITs) and Asset-backed Securities (ABS) ABS for the global market.
In the press release, Seven Stars Cloud said they could “unlock illiquid portions” of Chinese investment funds with the digital asset ecosystem, claiming that China has an “abundance of quality illiquid assets” but lacks an appropriate system to support a market that is accessible to all investors.
To achieve this, SSC will employ some of its technology, including the Velocity Ledger (VL) – a blockchain-powered tokenization and secondary trading platform, Plutos – a superintelligence network that processes mass data for high-value indexes, and Big Business Data (BBD) – a dynamic ontology-based AI machine.
Despite not holding a favorable opinion about cryptocurrencies. the Chinese government has always been bullish towards integrating blockchain technology across the country with SSC’s new partnership being one of the latest.
On Monday, the Chinese government announced that it has signed a Memorandum of Understand (MoU) with ConsenSys, a blockchain software technology company to build Xi Jinping’s dream city on the Ethereum blockchain.
No doubt, blockchain technology has become a part of the most significant technological revolutions that are changing China’s economy and the world at large.