ZW Data Action Technologies, Inc., an integrated online advertising, precision marketing, data analytics, and other value-added services company, today announced the official initiation of “The Finance”, its supply chain finance solution that targets the growing key opinion leaders (KOLs) and online-to-offline (O2O) e-commerce industry with options of digital asset and crypto payment.
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ZW Data’s blockchain based supply chain finance solution, “The Finance,” is the latest service application rollout of its decentralized ecosystem which is powered by the Company’s Blockchain Integrated Framework (BIF) for omnichannel retail marketing, and follows the launch of its innovative livestreaming platform in Guangzhou earlier in December 2020. The Finance service will be integrated with the Company’s livestreaming platform and the mobile payment partnership with WePay in order to build a reliable and efficient ecosystem for all users and to streamline its ecommerce process, seamlessly linking the data management of information, logistics, transaction, and finance.
In particular, the blockchain-powered platform will establish linkage and compatibility with digital assets through licensed digital assets and crypto exchanges，such as China’s new Digital Currency Electronic Payment (DCEP) system, as well as leading crypto assets such as Bitcoin and Ethereum.
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The traditional finance sector has been outpaced by innovations in FinTech for a while and has struggled to create trust between various parties. The Finance fosters network cooperation, strengthens existing business connections and accelerates cash flows within the supply chain, in which a similar structure of decentralized finance (DeFi) can be further applied in accordance with China’s law and regulations and financial policy.
Offering unique benefits and opportunities to the Company’s livestreaming service, the Finance provides account receivable and inventory financing solutions to address the challenges by inventory management in livestreaming retail as well as small-medium enterprises (SMEs) sales.
This ensures that all information exchanges be secure, verified, and trustable throughout the platforms in real-time with automatic validation in smart contracts. The seamless execution of transactions can be implemented by blockchain-based technologies and applications as well as other big data and IoT services to ensure verifiable premium data accuracy.
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