TD Holdings, Inc. (NASDAQ: GLG) (the “Company”), a commodities trading service provider in China, today announced that its subsidiary Tongdow (Hainan) Data Technology Co., Ltd. (“Tongdow Hainan”) has completed the acquisition of eight software copyrights for commodities storage in digital cloud warehousing. The Company previously announced on February 17, 2021 that Tongdow Hainan entered into a letter of intent with Yunfeihu IoT Co., Ltd. (“Yunfeihu”) and Tongdow E-commerce Group Co., Ltd. (“Tongdow E-commerce”) to acquire the copyrights. The ownership of software copyrights has now been fully transferred to Tongdow Hainan, which marks the Company’s entrance into a substantive stage in the development of the ecosystem of payment and settlement using cryptocurrency.
Tongdow Hainan acquired the following eight software copyrights: Smart Hardware Management Platform System 3.0, Smart Storage System Management Software, Lecheng Smart HD Video Conference System V1.0, Smart Storage APP system, Flat Panel Vehicle APP System, Smart Storage Hands-Held Device APP System, Statistical Management of Account Transfer Fees of Warehouse Orders System V3.0, and Supply Chain Finance OA System V1.0.
The Company aims to empower its existing digital cloud warehousing system with these blockchain technologies to provide support for more diversified settlement channels for commodity trades, such as payments by Bitcoin or other encrypted currencies. Meanwhile, such blockchain as well as internet of things (IoTs) technologies shall be applied to improve the efficiency of the Company’s warehouse order tracking system in order to standardize order management to better prevent errors and cause orders to be more easily traceable.
The innovations would ensure a detailed recording of the trading, account transfer and other information such as place of origins as well as quality control of the goods in consideration, which effectively digitalizes the entire supply chain process and creates a safe environment for inventory management and financing activities that require precise information on the production, sales and other goods-related data based on the cloud warehousing system. Blockchain and IoTs technologies help verify ownership of goods and turn physical assets into highly efficient and secure digital assets.
The Company will continue to increase the acquisition and R&D of technical software copyrights and patented technologies in digital cloud warehousing, commodity digital transactions and digital currency settlements. The Company strives to take a global leading position in blockchain technology, IoTs technology and digital cloud warehousing technology which will become the foundation for the Company’s rapid development in the future.
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information please visit http://ir.tdglg.com.