On December 31, 2020, Future FinTech Group Inc, a major blockchain-based e-commerce enterprise and a fintech service provider, announced that China Copyright Protection Center (“CCPC”) had accepted its application for ten software copyrights relating to blockchain technology applications. The company had initially submitted these for CCPC’s review in June 2020.

The development story

Future FinTech has been involved in engineering and enhancing an anti-counterfeiting and tracing system by deploying blockchain technology for its blockchain-based e-commerce platform dubbed Chain Cloud Mall (CCM).

The USP of the system is not only limited to issuing exclusive anti-counterfeiting QR codes to trace the product and confirm its authenticity, but it also provides anti-counterfeiting points to consumers.

Once customers are rewarded with these points, they can receive discounts and other benefits and eventually realize “no counterfeit in the CCM, value-added shopping experience, and more traffic and business for the stores in CCM.”

Blockchain apps have gained momentum in the past few years. They are extensively used in real-life and daily economics, such as traditional manufacturing, financial industry, e-commerce, to save on transaction and labor costs, slash raw material consumption, and streamline the payment process.

List of copyright software

Future FinTech, with research, development, and improvement of software utilized in the counterfeiting and tracing system with the blockchain technology, has engineered ten software with blockchain technology that has been applied for copyrights.

Here is the list:

  1. Blockchain credit points discount settlement system
  2. Blockchain credit points circulation monitoring system
  3. Legal currency and credit points synchronization settlement system
  4. Blockchain credit points flow system
  5. Agent automatic profit distribution system
  6. Agent automatic tax deduction and accounting system
  7. Manufacturer automatic accounting system
  8. e-commerce and blockchain anti-counterfeiting linkage system
  9. Blockchain discount and promotion automatic balance system
  10. Blockchain real-name authentication and legal responsibility system

The expert’s take

Zhi Yan, General Manager of CCM, said, “The system we built is simply a blockchain-based credit point reward and settlement center for our online shopping mall. The anti-counterfeiting and rewarding system in e-commerce is only the first application of this technology. Our supply chain system, contract farming system, and order management system may also use this technology. Our application of software copyrights will protect our intellectual property rights and help us further improve the blockchain-based system of CCM.”