Tech investor TTG Fintech just invented the word ‘blockchainisation’
Link copied to
Blockchain-speak can be incomprehensible to investors at the best of times — sometimes even the companies doing it find it hard to explain.
Case in point: Chinese company TTG Fintech (ASX:TUP) has signed a deal with a week-old Singaporean business Zipper, which it says is meeting the needs of “blockchainisation”.
Stockhead can confirm there are only 7,450 previous known uses of the word “blockchainisation” — and they were probably autocorrect errors.
Zipper Foundation is “creating the interface between the real world and the digital word to achieve the transformation of various forms of real-world assets into digital assets to meet the needs of large-scale asset digitalisation and blockchainisation”, reads TTG’s word-salad profile.
Zipper is “financial-oriented multi-blockchain architecture with cross-chain as the core to achieve interoperability on the premise of meeting the safety, compliance and technical standardisation requirements of global financial institutions.”
Stockhead is seeking further instruction on what this means.
Zipper was incorporated last week. Singapore is one of the most crypto-friendly regulatory jurisdictions in the world.
TTG Fintech provides online payment systems in China in digital currencies. The technology also includes a Customer Relationship Management system and data mining capabilities.
Chinese legislation enables merchants to use the technology to push product notifications out to customers.
The company says it already handles blockchain services to Chinese banks, and has a patent over “one blockchain innovation” and applications for seven others. patent together with 7 applications pending approval.
TTG says it will use the partnership to “promote blockchainisation” of financial assets, business processes, “other types of applications”, digitise assets in compliance with Chinese regulations.
TTG said in its half year report for the six months to September 30 that made revenue on its current technology suite of RMB4.9 million ($993,000).
That was accompanied by a massive ramp up in costs, which TTG said was to cope with expansion.
TTG opened flat at 12c on Friday.
Here’s a list of other ASX-listed small caps with exposure to cryptocurrency or blockchain (prices current at Feb 26):