NEW YORK, Oct. 9, 2018 /PRNewswire/ -- Ideanomics
(formerly: Seven Stars Cloud Group, Inc.) (NASDAQ:SSC)
("Ideanomics" or the "Company"), a leading global fintech and asset
digitization services company is please to announce it has entered
into a joint venture agreement with TPJ Ltd, to create Ideanomics
Resources LTD a U.K. company based in London. The 75% Ideanomics owned joint venture
has been created to unlock value in the commodities and energy
sectors by leveraging and utilizing the Ideanomics
Platform-as-a-Service (PaaS) solutions, a suite of strong
multi-layer fintech technologies leveraging blockchain and
artificial intelligence. Ideanomics Resources will initially focus
its efforts in Africa and
Middle East where it has
significant long-term relationships.
"We will use blockchain technology to improve transparency and
eliminate corruption in Africa's
commodity markets. Digitizing asset production and distribution
could help the continent to lead just as it has with mobile money
worldwide," Dr Bruno Wu, co-CEO and Chairman of Ideanomics,
told entrepreneurs and investors at an event hosted at Africa House
collective in New York, during the
United Nations General Assembly week in September 2018.
The joint venture will be responsible for setting up a commodity
and energy digital asset exchange, which will leverage Ideanomics
Platform-as-a-Service (PaaS) solutions. These solutions will
includes our pricing model, with super artificial intelligence for
indexing & futures pricing, the tokenization of assets,
including mining, oil and gas assets projects, and the processing
and settlement services for supply chain finance using our
blockchain and smart contract settlement technology.
"We are delighted to join the Ideanomics team. London is an important hub for the group and
the sector. We are focused and determined on opening up the
benefits of AI and blockchain applications to the public and
private sector, both in traditional markets such as Europe, and emerging markets such as
Africa. We have the digital
capability to bridge continents and place emerging states onto the
global economic map. This is an exciting moment in the digital
renaissance as the world moves rapidly forward into new ways to
increase efficiency, performance and transparency in the way that
it trades," said Jason McCue LLD, Director of Ideanomics Resources
LTD
About Ideanomics
Ideanomics provides
Platform-as-a-Service (PaaS) solutions with strong multi-layer
fintech technologies leveraging blockchain and artificial
intelligence. Our technology and infrastructure uses blockchain and
smart contract for security token issuance and trading, artificial
intelligence to provide a system for asset rating and
recommendation services, and in-house and partner service providers
for digital asset securitization. Ideanomics will monetize and
leverage distribution through its communities and direct sales
channels, through its AI assisted lending and automated sales
systems, and asset securitization with a concerted focus on
regulatory compliance. Our goal is to drive capital formation and
sales across our digital asset ecosystems through decentralized
product origination and centralized issuance and trading.
With headquarters in New York,
NY and its planned "Fintech Village" center for Technology
and Innovation in West Hartford,
CT, and offices in London,
Hong Kong, Beijing, and Shanghai, China.
Ideanomics continues to drive growth and deal flow in its core
product areas:
1) Fixed Income-based Digital Assets [Chinese National Electric
Bus Financing Agreement, First Auto Loan Financing Agreement, IHT-
Real Estate JV] [HooXi - MedTech]
2) Consumer Tech Digital Asset [Grapevine acquisition] [MedTech –
HooXi]
3) Commodity and Energy Digital Assets [BBD Digital Capital Group]
[Clean Tech HooXi]
4) TradeTech Digital Assets [Asia-Pacific Model Electronic Port
Network (APMEN) JV]
5) GreenTech Assets [HooXi]
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.
Media Contacts
Ideanomics
Email: pr@sevenstarscloud.io
IR Contacts
Federico Tovar, CFO at
Ideanomics
Tony Sklar, VP of Communications at
Ideanomics
Email: ir@sevenstarscloud.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ideanomics-signs-joint-venture-to-create-a-commodity-and-energy-digital-asset-exchange-300727930.html
SOURCE Ideanomics