ZW Data Action Technologies has announced the launch of “The Finance”, its supply chain finance solution that targets the growing key opinion leaders (KOLs) and online-to-offline (O2O) e-commerce industry.
ZW Data’s blockchain based supply chain finance solution 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.
Handong Cheng, Chairman and Chief Executive Officer of ZW Data, commented,
“We believe The Finance allows us access to leading digital assets like BTC, ETH or China’s DCEP. We will partner with major regulated and licensed exchanges, while providing financing solutions for small and medium-sized KOLs or other O2O merchants with options in DeFi. We believe the Finance will provide us with the competitive advantage as it will integrate our livestreaming business with supply chain financial solutions and provide a potential extension on the resale business of SMEs or KOLs’ intellectual properties with the smart contracts on the blockchain developed through DeFi. We currently estimate that our livestreaming ecommerce business integrated with supply chain finance will bring in at least US$50 million revenue in 2021 and will maintain a double-digit growth rate in the future. We expect to continuously provide updates on the status of our progress to our investors in 2021.”
