Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge” or the “Company”), a SaaS solutions and blockchain applications provider, is pleased to announce that it has established a new wholly-owned subsidiary, Powerstream Supply Chain Co., Ltd. (“Powerstream”), to target new growth opportunities in supply chain, retail sector, new media and e-commerce.
Powerstream is creating a technology enabled supply chain financing platform and ecosystem by utilizing blockchain and big data, involving enhanced retail, new media, and live streaming s-commerce. The Powerstream platform integrates online and offline sales and supply chain into a new dynamic retail world.
The Powerstream platform solidifies the business value chain and promotes real-time sharing of resources and information among the varying participants in the supply chain. It also improves the efficiency of capital turnover by using an innovative closed-loop capital service model.
During 2021, Powerstream collaborated with Suddenly a Week Brand Management (“Suddenly a Week”), a rising retail company, to help build and manage its new retail ecosystem. Suddenly a Week is improving its business model to a seamless online/offline omni-channel for retail stores, which is expected to enhance consumption experience and purchasing behavior.
“We discover new opportunities in retail sector by extending the merchandise scope and enhancing consumption experience with blockchain and big data. Powerstream is created with cutting-edge technology to improve the value chain of goods, help integrate resources, enhance operational efficiency and promote revenue growth.” said Stewart Lor, President of Powerbridge.
Stewart Lor added: “Our recent success in Suddenly a Week is a great practice to the integration of big data, blockchain, and fintech services in the retail sector. We are enthusiastic about Powerstream’s future, and its revenue contribution is expected to reach $100 million in the next 24 months. We will keep working on developing additional innovative business models with high growth potential and high returns.”