ABBC Foundation and the Alibaba Group Negotiated Long-term Settlement
Place/Date: Dubai - April 10th, 2019 at 5:30 am UTC · 4 min read
Contact: ABBC Foundation,
Source: ABBC Foundation
“Beloved Community Members and Supporters,
I am proud to announce that our year-long trademark lawsuit with Alibaba has finally come to an end with mutual understanding. ABBC Foundation and the Alibaba Group have negotiated a settlement that will be mutually beneficial for both of our organizations and are ecstatic with the outcome. What started off as a feud, looks like will end as a blessing. The settlement allows us and Alibaba.com to move forward in our respective plans to truly revolutionize the way business is conducted in the ever-growing connected world.
I am thrilled to announce and share ABBC Foundation’s latest developments in exchange listings, platform development, marketing, and partnerships.
- Exchange Listings: A couple weeks ago we publicly announced that the ABBC Coin will be listing on 13 new exchanges. The number was not an exaggeration, as we have finalized and signed contracts with more than 10 additional unannounced exchanges for listing. We are confident that as we continue to cooperate in the announcement of listing dates and trading details, our supporters will be more than satisfied with the dramatic increase in trading volume on some of the world’s most respected exchanges. This is not an easy feat, and is only achievable by projects with truly promising futures in which the exchanges are able to see as well.
- Platform Development: Despite the long lawsuit, our team has been making great progress in development. We have received over $1.2 billion through various financial partners to pour into the dream platform that we have envisioned from the start. Coin Shopping Mall (CSM) has now been in development for over a year, and will soon be ready to launch in a few months. This platform aims to revolutionize the future of eCommerce and online-shopping, and it is apparent that our partners believe in the vision as well, as they have been blessing us with adamant support. Our global network of financial partners will be unveiled when we are fully established and ready to launch.
The shopping mall will accept cryptocurrencies like Bitcoin and Ethereum, as well as a variety of other coins, the same way that current online retailers accept fiat currency. We believe that with our new wallet and staking and rewards system, which will be detailed more later, will truly push our platform to new heights. ABBC Coin holders will have the opportunity to generate real revenue and the platform will give a chance for a world with less income inequality.
- Partnerships & eCommerce Integrations: Other than our impressive list of financial supporters and our exchange partners, we are in the process of integrating the Coin Shopping Mall with many of the world’s most renowned online shopping malls including Alibaba, Amazon, eBay, Coupang Mall, and more. Our goal is to have at least 25 online retailers integrated into our platform at launch. We are confident that more and more retailers will want to be integrated into our platform as we grow.
- U.S. Expansion: We are currently in the process of launching an R&D (research and development) facility in the United States, in accordance with local and federal laws. This state-of-the-art facility will hopefully attract the world’s top talents in a variety of fields, not only limited to blockchain development.
We thank all our supporters and followers for your ongoing interest in ABBC Coin and ABBC Foundation’s ambitious projects. We can not be more excited about the future, and from the bottom of our hearts, the ABBC team and I pledge to work tirelessly until we succeed in revolutionizing the online shopping experience and making the economic playing field a fairer and more equal place. I hope that you stay tuned as we will continue to release more details as they are ready.”
With humbleness and joy,
Jason Daniel Paul Philip
CEO, ABBC Coin
Foundation Chairman, ABBC Foundation