Blockchain Digital Asset Company to Finance Electric Bus Fleet Upgrade in China

0
LinkedIn
Facebook
Newsletter
RSS

The digital asset management space has evolved over the years and is now leveraging blockchain technology to facilitate the management of the entire lifecycle of digital assets.

One promising project, Ideanomics (formerly Seven Stars Cloud Inc.), is building a blockchain-based platform to enable asset holders and owners to tokenize, secure, and trade their digital assets. As a global FinTech and asset digitization services company, Ideanomics is focused on digital asset production and distribution.  It provides the infrastructure and ecosystem through which traditional financial markets such as commodities, currency and credit are transformed through asset digitization. This brings enhanced efficiency, transparency, and new paradigms for markets such as commodities and finance. In addition, Ideanomics has customized its blockchain-based platform to suit various business use cases and partners with businesses that deliver core digital asset products creation.

Significant three-year deal

Ideanomics recently won a three-year contract with China’s largest electric bus full-service operator, National Transportation Capacity Co Ltd (NTS) worth $24 billion. The contract aims to revamp China’s buses and make them electric by 2021 by issuing fixed income lease financing-based products. NTS is China’s largest full-service operator for electric buses and offers vehicle sales, lease financing, a charging station network, and real-time data services. This global strategic alliance is part of the Chinese government’s plan to have a fully-electric bus fleet within the next three years.

Under the terms of the contract, Ideanomics will run two financing campaigns, the first one in China and the second one across its global markets. The campaign in China aims to raise Chinese Yuan (RMB) 60 billion over three years, while the international financing campaign will raise$15 billion during the same period.  Ideanomics will exclusively provide the financing products through its blockchain ecosystem.

Bruno Wu, Chairman and CEO of Ideanomics, said:

“This is a truly ground-breaking deal globally for blockchain-based fintech companies to gain such a large-scale, asset-backed, contract […] and it will serve as a window to the world on how asset value and liquidity can be unlocked by traditional industries as we take fixed income products into the digital era.”

Leading bus manufacturers in China fully support NTS’s partnership with Ideanomics. Furthermore, the success of this initiative will help integrate digital offerings that are asset-backed and blockchain-powered into the transportation systems.

Growing interest in digital asset management

Determining the role that digital assets can play has been one of the biggest hurdles facing the blockchain companies, especially when it comes to appealing to broader institutional investors and asset managers. But that trend is swiftly changing and there is an increased interest from potential enterprise customers as the industry is maturing and blockchain is being validated as a viable technology to be combined with digital assets. With blockchain, it is possible to record all ownership of digital assets on trustless ecosystem in order to maintain proof of ownership, store value, and execute transactions. Besides Ideanomics, companies such as AlphaPoint,ANX International, Digital Asset and Laureate Digital Securities are aiming to be amongst the vanguard to commercialize this technology in the digital asset management industry.

Ray Battrick is a certified blockchain expert and FinTech copywriter who is devoted to working for you to build blockchain-based applications for your business. Ray is also a FinTech copywriter who is skilled at creating persuasive content for a wide range of products, including financial technology, business blockchain, investing and more. As an avid blockchain enthusiast, Ray enjoys writing about business blockchain, ICOs and cryptocurrency investment.

Post a Comment

avatar
  Subscribe  
Notify of