TD Holdings, Inc. announced today that their subsidiary Hainan Jianchi Import and Export Co., Ltd. had been granted the license to provide commodity services to clients in the chemical and energy sectors.
The company was granted the Dangerous Chemicals Business License by The State Administration of Work Safety of China, helping them strategically expand their business in the energy commodities field. TD holdings can now trade dangerous chemicals such as petroleum, chemicals, fuels, etc.
Ouyang Renmei, CEO of TD Holdings Inc., said:
“Our goal is to become a leading commodity platform service powered by blockchain technology. Our expansion into the field of the hazardous chemicals and energy products sector is part of our long-term growth strategy. The letter of intent previously announced by the Company to purchase eight registered blockchain software is part of our strategy to speed up the application of blockchain technology. We strive to promote the application of blockchain technology in our commodities platform as well as our digital iCloud warehouses in order to provide more efficient and convenient commodity trading and supply chain solutions to our clients. We anticipate that our e-commerce platform will continue to add more categories of commodities and apply blockchain technology to provide high-quality services for global commodity trading.“
TD Holdings And Subsidiaries To Use Blockchain Quality Assurance
TD Holding’s subsidiary, Tongdow Digital Technology Co., Ltd. has entered into a letter of intent with Yunfeihu IoT Co. Ltd. and Tongdow E-commerce Group Co., Ltd. on February 5, 2021, to acquire eight software copyrights for commodities storage in digital cloud warehouse.
With these 8 softwares and blockchain technology, TD Holdings and Jianchi Import and Export Co., Ltd. can empower their existing digital cloud warehouse system supporting diversified methods of settlements like bitcoin or other cryptocurrencies. The use of blockchain technology will create an efficient order tracking system that will help orders be more easily tracked and standardize order management to prevent fabrications.
Verification of Ownership and Product Accountability with Blockchain Technology
Integration of blockchain technology to supply chains is rewarding in terms of shorter lead times, reduced redundancy, fewer delays, and ultimately a leaner supply chain. It creates a safe environment for inventory management and financing activities as they depend on precise information on commodity-related data on the cloud warehouse system.
The addition of blockchain technology will contain secure information about trade transactions, account transfer, quality of the product, place of origin of the product, etc. It will digitize the entire supply chain, thus ensuring a streamlined process of accountability and transparency for the company.
Renmei further commented:
“The planned acquisitions represent us stepping forward to become a commodity trading platform that is technologically supported by blockchain and IoTs. These two important technologies help verify ownership of goods and turn physical assets into highly efficient and secure digital assets.“
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.