Long Term Investment	9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
LONG TERM INVESTMENT	7. LONG TERM INVESTMENT On June 22, 2018, Digipay Fintech Limited (“Digipay”), a wholly-owned subsidiary of the Company acquired 10% ownership interest in InUnion Chain Ltd. (“InUnion”) for an aggregate purchase price of $15 million (“Purchase Price”), pursuant to a Shares Transfer and IUN Digital Assets Investment Agreement signed with Lake Chenliu, who are the sole owner of InUnion. The Company issued 5 million of its Common Stock to the InUnion on October 19, 2018 as the payment for Purchase Price. Upon acquiring the InUnion Shares, Digipay has access to, and the use of, certain software, technology and related intellectual property of InUnion without further payment. Digipay also has the right to designate a director nominee to the board of directors of InUnion. The Company has appointed a director to the Board of Director of InUnion. Pursuant to the agreement, Digipay shall also purchase 20,000,000 of the INU tokens issued by InUnion (the “INU Tokens”) for an aggregate purchase price of $1,000,000, which such amount shall be paid in immediately available funds within 180 days of the date of the agreement. Digipay has reached an agreement with InUnion to waive the purchase of the INU Token. As a result, no INU Token was acquired by Digipay. As of December 31, 2019, management assessed the value of the above investment, and recorded an impairment loss of $2.75 million.

Long Term Investment

9 Months Ended

Sep. 30, 2020

7. LONG TERM INVESTMENT

On June 22, 2018, Digipay Fintech Limited (“Digipay”), a wholly-owned subsidiary of the Company acquired 10% ownership interest in InUnion Chain Ltd. (“InUnion”) for an aggregate purchase price of $15 million (“Purchase Price”), pursuant to a Shares Transfer and IUN Digital Assets Investment Agreement signed with Lake Chenliu, who are the sole owner of InUnion. The Company issued 5 million of its Common Stock to the InUnion on October 19, 2018 as the payment for Purchase Price.

Upon acquiring the InUnion Shares, Digipay has access to, and the use of, certain software, technology and related intellectual property of InUnion without further payment. Digipay also has the right to designate a director nominee to the board of directors of InUnion. The Company has appointed a director to the Board of Director of InUnion. Pursuant to the agreement, Digipay shall also purchase 20,000,000 of the INU tokens issued by InUnion (the “INU Tokens”) for an aggregate purchase price of $1,000,000, which such amount shall be paid in immediately available funds within 180 days of the date of the agreement. Digipay has reached an agreement with InUnion to waive the purchase of the INU Token. As a result, no INU Token was acquired by Digipay.

As of December 31, 2019, management assessed the value of the above investment, and recorded an impairment loss of $2.75 million.