Seven Stars Cloud Provides Update on Launch of Digital Oil Asset Index ("DOAI")
NEW YORK, May 23, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced today that private and pre-sales of its Digital Oil Asset Index ("DOAI") tokens in the Greater China Region, which were created through super intelligent dynamic ontology analysis, commenced on May 18, 2018 and will conclude around the end of June. General sales (once the private and pre-sale window has closed) will then continue until the end of September.
This first sales are taking place in the Greater China Region only. Moving forward, Seven Stars Cloud, as the digital asset holder, is currently planning a build out to expand its sales scalability and capabilities, with various partners in other regions including the Middle East, Southeast Asia, Korea, Japan, Europe and eventually North America.
These DOAI tokens are built atop Ethereum, the smart contracts platform powered by ether. Tokens are securely stored and tradable on the blockchain in multi-signature custodian wallets that allow for the settlement of tokens and fiat currency on the Digital Asset Issuance and Trading Platform.
SSC intends to launch 3-4 additional commodity market related index products and at least 1 currency market related index product, in 2018.
In addition, the Company has launched marketing videos surrounding both the product and its launch that can be viewed in either English or Chinese on the Company's website: Video Link. Additionally, the DOAI website is http://www.globaldoai.info.
Global trading of crude oil commodity products exceeded $450 trillion in 2017. These products, including indexes, futures and derivatives, provide crucial hedging and trading strategies which help stabilize world economies.
Seven Stars Cloud and its partners are using technologies such as blockchain distributed ledgers and Big Data Dynamic Ontology analysis of large databases in its asset valuation modeling. This process, will produce commodity index products by deploying multi-dimensional dynamic data analysis and a valuation metric known as Digital asset Return ("DaR"). The algorithm producing the DaR marks a substantial advance over legacy static valuation models by enhancing trading and risk management strategies and therefore providing increased transparency and efficiencies, in this case, to the commodity markets.
About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/)
SSC is aiming to become a next generation Artificial – Intelligence (AI) & blockchain-powered, fintech service company, focusing on digital asset production and distribution.
We facilitate and enable the transformation from traditional financial markets into the asset digitization era. SSC acts as the manager and service provider of an ecosystem for securitization and digital currency tokenization as well as trading system integration.
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.
CONTACT:
Jason Finkelstein
VP, Investor Relations
Seven Stars Cloud Group, Inc.
212-206-1216
SOURCE Seven Stars Cloud Group, Inc.
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