Future FinTech trials blockchain tech system with China's anti-counterfeiting agency

Future Fintech's (NASDAQ:FTFT) wholly-owned subsidiary, Cloud Chain Network and Technology, and the Anti-Counterfeiting Committee of the China Foundation of Consumer Protection on Thursday began the trial operation of its jointly developed Blockchain Quality and Safety Traceability System. The blockchain technology system includes three independent systems: credit verification system, engagement protocol decoder and enterprise communication as a service. "Our jointly developed blockchain technology system addresses the requisites of the anti-counterfeiting edicts of the '3.15 China Brand Responsibility Plan' which is to create a transparent and accountable business-to-consumer ecosystem which can help to promote healthy economic growth," said Yan Zhi, general manager of FTFT's Cloud Chain Network. Earlier in March, Future FinTech's subsidiary launched a cryptocurrency hedge fund.