Future FinTech Group Announces Cooperation with Chifeng Supply and Marketing E-commerce Co., Ltd. to Develop a Blockchain Contract Farming Platform
XI'AN, China, Nov. 18, 2019 /PRNewswire/ -- Future FinTech Group Inc. (FTFT) ("Future FinTech", "FTFT" or "the Company") today announced cooperation with Chifeng Supply and Marketing E-commerce Co., Ltd. ("Chifeng Supply and Marketing Company") to develop a blockchain contract farming platform focusing on sheep farming.
Contract farming is defined as a sales arrangement of certain agriculture products between a customer and a farmer before production begins and it establishes conditions for the production and markets for farm products. By connecting the consumers and farmers directly, contract farming can offer farmers an assured market and offer consumers higher food quality and safety. The first phase of the blockchain contract farming platform will focus on sheep farming in Chifeng. Future FinTech agreed to utilize its technology to develop and provide the real-name blockchain platform for the contract sheep farming. Chifeng Supply and Marketing Company will consolidate local farmers and resources to transform them into standard sheep farming.
By building a blockchain contract farming platform, every sheep farming process will be carried out by a real-name farmer and record on the blockchain. Consumers would be able to track the whole standard sheep farming process.
"We are glad to cooperate with Chifeng Supply and Marketing Company to develop the blockchain contract farming platform. It is our first project in the agriculture industry and we believe this blockchain contract farming model has great market potential. We look forward to making the sheep farming project a success," said Mr. Yongke Xue, Chief Executive Officer and Chairman of Future Fintech.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is incorporated in Florida and engages in fruit juice and blockchain based e-commerce businesses. The Company engages in the operation of a blockchain based online shared shopping mall platform and also operates an incubator for application projects using blockchain technology. FTFT and its subsidiaries are developing blockchain technology for a variety of B2B and B2C real-life applications including the distribution, marketing and sale of consumer products. The Company is also developing financial technology business to stay ahead of the changing industry. For more information, please visit http://www.ftft.top/.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2017 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Dragon Gate Investment Partners LLC
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