YEAHKA LIMITED (“Yeahka” or the “Company”, stock code: 9923.HK), a leading technology platform in China, announced that its proprietary consumer cloud and blockchain-powered coupon platform (the “Consumer Cloud Platform”) has been included in the fourth set of blockchain information service providers released on 30th by the Cyberspace Administration of China (CAC). Yeahka’s Consumer Cloud Platform aims to provide merchants with solutions for store management and traffic-driving customer acquisition. So far, the platform has served almost 20,000 merchants to date, of which the majority issue coupons with the main product “YueHuiQuan” on consumer cloud platform and develop their own private traffic are restaurants, and snack and beverage vendors.
In terms of specific applications, any coupon transaction that takes place on the Consumer Cloud Platform can be traced, which allows coupons to be securely and reliably traded and regifted. Leveraging the data immutability of blockchain, the Consumer Cloud Platform creates a trusted and standalone network that operates independently of any third parties. It also makes it easier for the government to track the creditworthiness of merchants, manage commercial services, and protect consumer rights.
On January 10, 2019, the CAC published the Administrative Provisions on Blockchain Information Services, which became effective on February 15, 2019. As of today, the Internet regulator has released four sets of domestic blockchain service providers, involving a total of 1015 companies and projects. The compliance document of service providers aims to provide an effective legal basis for the provision, use, and management of blockchain information services.
Companies named so far have included major Chinese Internet giants, such as Tencent (00700.HK), Alibaba (9988.HK), Baidu (BIDU.US) and JD.com (JD.US), which indicates that blockchain technology will be applied to a wide range of situations and sectors.
Through the Consumer Cloud Platform, Yeahka will further explore its potential of applying blockchain technology to specific applications involving coupons. While optimizing the experience for both merchants and consumers, the Company will enhance its data analysis capabilities around private traffic and operations of coupons to optimize marketing efforts and boost the business growth for merchants.