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Future FinTech and China Foundation of Consumer Protection To Fight Counterfeit Products With Blockchain

Future FinTech and China Foundation of Consumer Protection To Fight Counterfeit Products With Blockchain

Chain Cloud Mall Network and Technology (Tianjin) Co., Limited ("CCM"), the wholly-owned subsidiary of Future FinTech Group Inc, has signed a cooperation agreement with The Merchandise and Quality Week Magazine, a news magazine directly owned by China Foundation of Consumer Protection.

As per the agreement, they will be responsible for building the quality and safety credit system for Chinese brands and enterprises.

More Details Of The Partnership

Future FinTech is a leading blockchain-based e-commerce business and a fintech service provider. The cooperation terms will last for five years from February 1, 2021 to January 31, 2026. The Anti-Counterfeiting Committee of China Foundation of Consumer Protection will set up a "Quality and Safety Office." Zhi Yan, the general manager of CCM, has been appointed as the office's deputy director for one year. 

The office will be responsible for enacting the "Responsible Brand Plan" to build the quality and safety credit system for Chinese brands and enterprises. This "Responsible Brand Plan" will officially launch in March 2021. As per Zhi Yan: 

"The Responsible Brand Plan will make full use of the real name based blockchain anti-counterfeiting tracing technology developed by CCM, which will not only protect the legitimate rights and interests of the enterprises and their brands, but also impose responsibility for their product's quality and safety."

The Parties Involved

The China Foundation of Consumer Protection was established in November 1989 and supervised by the State-Owned Assets Supervision and Administration Commission of China's State Council. It aims to “protect consumers' interest and implement its responsibility as a non-profit consumer protection organization under China's Consumer Protection Law.“

The Anti-Counterfeiting Committee of China Foundation of Consumer Protection specializes in anti-counterfeiting in China and was the first and the only non-profit organization of its kind that's approved by the Ministry of Civil Affairs

Future FinTech is a Florida-based blockchain e-commerce company and a service provider for financial technology. Their operations include:

  • A blockchain-based online shopping mall platform.
  • Chain Cloud Mall ("CCM").
  • A cross-border e-commerce platform (NONOGIRL).
  • An incubator for blockchain-based application projects.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.  

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