Seven Stars Cloud Provides Updates on Patent Filings, SuperApp, VPaaS and TPaaS
NEW YORK, Sept. 20, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company" or "Seven Stars Cloud") today provided several updates on some of its key initiatives, products and launches.
SuperApp: The Seven Stars Cloud SuperApp, which will be compatible with iOS and Android, will launch in app stores, Q4 2017. The SuperApp, is a next generation, intelligent recommendation app that incorporates SSC's proprietary platforms and content along with Wechat applets support. SuperApp, once launched, will ultimately provide multi-functional capabilities including e-commerce and online shopping, video on demand, video/audio/text chatting and social networking, all under one roof.
VPaaS & TPaaS: The Company has separated its PaaS into two separate platforms. VPaaS will continue to exist in its current form except that all physical commodity-based trading and exchange functionality from its VPaaS (Visual Platform as a Service) has been carved out and will now be offered under TPaaS (Transactional Platform as a Service). TPaaS will provide the same functionality that once resided under VPaaS including matching buyers and sellers, removing additional layers of middlemen, resolving the issues of information and credit asymmetry and providing integrated commodity trading settlement and clearance.
In addition, the Company also launched a new informational video for VPaaS, which can be found at: http://corporate.sevenstarscloud.com/media
Corporate Website: The Company will launch its new updated corporate website in October. The website build is being led by Ogilvy Public Relations.
Patent Application: In an effort to protect its proprietary PaaS systems including VPaaS and TPaaS, the Company is establishing an e-commerce focused technology patent portfolio. For example, the first invention patent was filed with SIPO (State Intellectual Property Office of China) on September 13, 2017. The patent, which will use collaboration technology and is a cornerstone of VPaaS, is entitled "Video and Screen-Sharing Method, Device and System as Applied to E-Commerce" and is currently patent pending. This patent is the first of three patents being filed, with the remaining two patents to cover 3D product display and e-commerce blockchain transactions. The Company is filing its patents globally by taking advantage of China being a part of the Patent Cooperation Treaty (PCT), an international patent law treaty. It provides a unified procedure for filing patent applications to protect inventions in each of its 152 contracting states by filing one international patent application under the PCT.
About Seven Stars Cloud Group, Inc. (http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a leading Intelligent Industrial Internet (3I) platform, creating a fintech-powered, supply chain solution simplified for commercial enterprises. There are 2 Engines that drive our business platform: 1. VPaaS + TPaaS - Supply Chain Management for key industry sectors and leaders including but not limited to Big Commodities, Cross-Border Trade, Consumer Electronics & Energy; 2. Digital Finance Solutions - Supply Chain Finance underwritten by our Global Cornerstone Funds and Tokenization and Exchange Platforms, which include FINRA and SEC-regulated: Index Exchanges, Initial Coin Offering / Tokenization, ETFs and Derivatives. Both Engines and their various arms will run on 'BASE' technology and infrastructure (Blockchain, Artificial Intelligence, Supply Chain & Exchanges) to power a closed trade ecosystem for buyers and sellers designed to eliminate transactional middlemen and create a more direct and margin-expanding path for principals.
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.
Seven Stars Cloud Group, Inc.
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