NEW YORK, Feb. 2, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced today a joint venture with Guangzhou Yongkai Industrial Co. Ltd. for the continued development and upgrade of a global, artificial intelligent & blockchain-based, digital asset management, settlement and clearance network ("Quantum Network").
The Quantum Network, a principal component of the comprehensive value hub Seven Stars Cloud is assembling, will be based on technologies such as distributed networks and blockchain, and will provide a fast, efficient and low-cost financial expressway for the management, settlement and clearance of digital asset based currencies as well as hard currency based banking settlement.
The Quantum Network, which is already up and running currently for standard hard currency banking settlement and accepted by several major banks in China and Asian region, has transmission capability beyond just optical fiber but mobile and low orbit satellites as well. Additionally, the network will implement quantum encryption features in the second half of 2018 in to order ensure the highest modern levels of security for all communications and transactions, as privacy and safety is a fundamental component of SSC's core services and integral to the Seven Stars Cloud digital currency interchange environment.
Seven Stars Cloud Group, Inc.
About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/)
SSC is aiming to become a next generation Artificial-Intelligence (AI) & Blockchain-Powered, Fintech company. By managing and providing an infrastructure and environment that facilitates the transformation of traditional financial markets such as commodities, currency and credit into the asset digitization era, SSC provides asset owners and holders a seamless method and platform for digital asset securitization and digital currency tokenization and trading.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE Seven Stars Cloud Group, Inc.