Hyperchain Receives Tens of Millions of Yuan from Fosun’s Investment Platform in the A Round of Financing
On December 16, 2017, the first Qiantang River Forum was held in Hangzhou International Expo Center. At the sub-forum “Fosun Belt and Road Summit” hosted by Fosun Group, the A Round Financing Signing Ceremony of Hyperchain was held, and its CEO Li Wei together with its investor Yadong Xingchen reached a multi-million agreement in the A round of financing.
Guo Guangchang, president of Fosun International, Chen Chun, academician of Chinese Academy of Engineering, Li Ming, director of Blockchain Research Institute of Electronics Standardization Research Institute of Ministry of Industry and Information Technology, Yu Liping, president of Rothschild China, and Cai Liang, director of Hyperchain Technologies, attended and witnessed the A Round Financing Signing Ceremony of Hyperchain.
Yadong Xingchen (short for Yadong Xingchen Investment and Development Co., Ltd.) is an investment platform subordinated to Guo Guangchang’s Fosun Group, established in 2013, it is mainly engaged in investment management, services related to biological products technology, business investment and relevant consulting services.
In an interview with 8BTC, Li Wei said that as a strategic investor, what Fosun did is not only capital investment, but implanting a strategic resource for Fosun’s Globalization. Fosun has successively invested in many countries such as Portugal, Brazil and Germany, connected various sectors such as banking, insurance and health to form a closed loop of products and services, using resources in China to swift into the Global. In fact, Hyperchain Technologies and Fosun have been in contact early in this October and will soon reach an agreement with BCP, a Portuguese commercial bank invested by Fosun.
“Hyperchain Technologies is a platform providing the underlying blockchain technology. Actually, technology that breaks away from specific scenarios does not make any sense. Being honored to have the opportunity to cooperate with such an influential company as Fosun, the power and value outputted would be unimaginable. It is of great strategic significance for boosting the real economy and helping Chinese enterprises to go abroad under the ‘One Belt and One Road’ initiative.” Li Wei said
Regarding its next development, Li Wei summed up four points:
- First, further consolidate the leading position of Hyperchain Technologies in China’s financial market and launch more application scenarios;
- Second, technically, for the moment, Hyperchain’s blockchain technology can satisfy current financial needs, while for the long run, it must strengthen cooperation with more enterprises over the world centering on the “One Belt and One Road” initiative, which would mean a big challenge for its current technology. In this sense, Hyperchain will enlarge its continuous investment in advanced technology;
- Third, improve operating capacity, to introduce blockchain technology to more enterprises and operate jointly with them;
- Finally, have a global view, to strengthen cooperation with European banks and insurance institutions along with high-tech companies in Silicon Valley, and furtherly step in the Southeast Asian market in the future.
Hyperchain Technologies had previously received financing totaled 17.5 million Yuan from Jun Bao communications, Insigma and Sunyard.
In terms of the future development of blockchain technology, Li Wei said that in 2017 blockchain application have made great progress, not yet go deeper, there is still a long way to go in terms of technology, such as privacy, improvement on consensus algorithm of large-scale application scenario, as well as standards making of blockchain industry, etc. Nevertheless, the current environment for blockchain development at home and abroad is very good, especially the control and management of blockchain in China not long before, so that blockchain can return to its right way. As the blockchain technology entering more and more application scenarios, it is believed that the year of 2018 will usher in the “Great Year” of blockchain development.