HONG KONG, Jan. 17, 2018 /PRNewswire/ — Sharing Economy International Inc. (“Sharing Economy” or “the Company”) (Nasdaq: SEII) today announced that its wholly-owned subsidiary, EC Technology & Innovations Limited (“ECTI”), has entered into a cooperation agreement with CoAssets Pte Ltd. (“CoAssets”), for the development of a blockchain-enabled financial transaction system and mobile application.
“This is a great opportunity to work with SEII, which has a strong foothold in the global sharing economy, technology and media businesses,” said Getty Goh, CEO and co-founder of CoAssets. “After establishing our crowdfunding platform in a number of regions, we are now looking to expand into other overseas markets, serve more international clients, and more importantly, continually act as a reliable bridge to channel funds from investors to those entities in need of funds on a risk-adjusted basis across different countries and regions. Our previous acquisition of Fintech enabled us to develop our financial transaction platform and applications, and we strongly believe that SEII can provide a good platform for us to deploy these technologies through different sharing economy applications.”
“Developing a transaction platform is a key component of the sharing economy ecosystem that SEII is developing,” said Parkson Yip, COO of Sharing Economy. “Having CoAssets as a new partner will help us explore more opportunities in financial transaction technologies. Utilizing their experience in blockchain applications development, CoAssets will play a vital role in developing our transaction platform to support various sharing economy applications, where secure, accurate and autonomous are the keys to success. By applying blockchain technology, distributed ledger and smart contracts, we can provide an ideal transaction platform with accuracy and transparency. With so many third party sharing platforms using different cryptocurrency or redemption points, we believe users will enjoy the convenience of our transaction platform, which will allow for the exchange of different cryptocurrency or redemption points across multiple sharing platforms.”