US: Payson E. Johnston, CEO of the Silicon Valley (USA) blockchain-technology pioneer Crowdz, and Mr. Xiao Ming, Head of Crowdz China Business, and Ms. Song Yuan, Partner, visited Jiangsu Huarui Investment Management Co., Ltd (HRVC). During the meeting, HRVC signed a contract with Crowdz agreeing to invest in Crowdz China, a joint venture between Crowdz and a domestic Chinese technology company.
At the meeting between Crowdz and Jiangsu Huarui Investment Management Co., the two parties conducted further consultations on the specific content of their strategic cooperation and reached consensus on the cooperation method, business philosophy, and business-development level.
The two parties further reviewed the application of blockchain technology in the area of supply-chain finance. Among the matters discussed, Mr. Wang Mangen, Chairman of Jiangsu Huarui, analyzed the main business methods of the existing commercial-paper business in the Chinese market, and pointed out that it differed significantly from the comparable Western financial markets. Crowdz CEO Payson Johnston expressed his agreement with Mr. Wang, and described how the Crowdz solution addressed the challenges of invoice financing, liquidity, and market value for small and midsize enterprises (SMEs).