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Nova LifeStyle launches blockchain subsidiary

Furniture maker Nova Lifestyle Inc. has launched a wholly owned subsidiary called I Design Blockchain Technology Inc. to help grow product sales through a digital platform backed by blockchain technology, the company said Dec. 20.

The global platform will bring together designers, interior decorators, manufacturers, stagers, customers and marketers of the company's products.

Nova announced earlier this year its plan to use blockchain technology to improve the brand recognition of its furniture business and create a platform to offer other products and services, according to the release.