When it comes to new partnerships in the world of blockchain and China, the Seven Stars Cloud Group, or (SSC), is a global company, which is focused on milieus like AI-powered digital asset management and blockchain.
And as noted in a press release from Monday, July 23, 2018, the SSC has teamed up with the China Venture Capital Research Institute (CVCRI). This partnership has been deemed to assist SCC with an expansion of their asset digitization services. Moreover, this new business relationship between CVCRI and SSC is noted to be a productive endeavor based on a digital asset ecosystem that will be compliant. This new system will help to extend trading and sales on a global scale. Indeed, banks and security brokers and security dealer networks in China will include blockchain-enabled tokens as well as trading services and distribution with this blockchain technology. Real Estate Investment Trusts (REITs) as well as Asset-backed Securities (ABS) can be traded on asset exchanges, which are regulated. The Seven Stars Cloud Group will have a hand in these financial sectors by tokenizing asset classes like REITs and ABS's, which have already been regulated by China. Velocity Ledger ("VL") will be utilized to hatch new investment products. These blockchain-enabled securities issue tokens, which are part of a secondary tech platform for trading. The Seven Stars Cloud Group's big announcement concerning their partnership initiatives is the latest moves to infuse blockchain into the financial sector in China. Indeed, China has taken some initiatives by creating an international group that is focused on the standardization of both the Internet of Things (IoT) and blockchain technology. Nanjing, which is a city located in China, recently created a blockchain investment fund. This fund focuses on public blockchain and token endeavors as is noted to be in the range of USD 1.48 billion or 10 billion yuan. The president of China, Xi Jinping had recently endorsed blockchain publicly in the spring of 2018. The deputy director of China's Information Technology Ministry has pushed for large-scale adoptions of blockchain technology in the Chinese economy and all facets of China's society.