Professional Diversity Network, Inc. Announces Partnership with Phala Network to Develop Privacy-Protecting Blockchain Applic...
December 30 2020 - 8:20AM
Professional Diversity Network, Inc. (NASDAQ: IPDN), (“PDN” or the
“Company”), a developer and operator of online and in-person
networks that provide access to networking, training, educational
and employment opportunities for diverse individuals, today
announced its partnership with Phala Network, an innovative
technology company that specializes in confidentiality-preserving
and privacy-first blockchain application development.
Blockchain technology is known for its decentralization and
irreversible features that guarantee secured transactions over
consensus algorithms; however, the biggest pitfall is its lack of
confidentiality. Phala Network uses the technology of Trusted
Execution Environment (TEE) to create a Privacy Cloud Platform that
could process general-purpose computing with
Turing-completeness.
PDN being one of the largest diverse networks in the nation, how
to improve the efficiency of matching qualified job seekers with
employers and reduce the costs and resources for employers to find
the right talent has always been its top priority. “We are excited
to partner with Phala Network to explore potential integration of
substrate-based, confidential smart contract blockchain technology
into our PDN network, which could potentially enhance our delivery
rate and protect network users’ and clients’ privacy from
data-mining,” said Adam He, CEO of PDN.
Professional Diversity Network, Inc.
Professional Diversity Network, Inc. (PDN) is a developer and
operator of online and in-person networks that provides access to
networking, training, educational and employment opportunities for
diverse professionals. Through an online platform and our
relationship recruitment affinity groups, we provide our employer
clients a means to identify and acquire diverse talent and assist
them with their efforts to recruit diverse employees. Our mission
is to utilize the collective strength of our affiliate companies,
members, partners and unique proprietary platform to be the
standard in business diversity recruiting, networking and
professional development for women, minorities, veterans, LGBT and
disabled persons globally.
For more information about PDN, please visit:
www.prodivnet.com
About Phala Network
Phala is a private computations cloud based company on Trusted
Execution Environment and blockchain, which offers generalized
compute at public cloud scale, with a property of base-layer
privacy. For now, there are already multi applications built on
Phala, including Web3 Analytics, a next-generation, cutting-edge
data analysis tool that is able to analyze user data and output
results without invading personal privacy.
https://phala.network
Forward-Looking Statements
This press release contains information about PDN's view of its
future expectations, plans, and prospects that constitute
forward-looking statements. These forward-looking statements are
made under the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical facts in this announcement are
forward-looking statements, including, but not limited to: any
projections of earnings, revenue, or other financial items; any
statements regarding the adequacy, availability, and sources of
capital, any statements of the plans, strategies, and objectives of
management for future operations; any statements concerning
proposed new products, services, or developments; any statements
regarding future economic conditions or performance; any statements
of belief; and any statements of assumptions underlying any of the
foregoing. In addition, there is uncertainty about the continuous
spread of the COVID-19 virus and the impact it may have on the
Company’s operations, the demand for the Company’s products, and
global economic activity in general. PDN may also make written or
oral forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other
written materials, and in oral statements made by its officers,
directors, or employees to third parties. Statements that are not
historical facts, including statements about PDN’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, whether known
or unknown, and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy, and financial needs. Investors can identify these
forward-looking statements by words or phrases such as “may,”
“will,” “will make,” “will be,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“endeavor to,” “is/are likely to,” or other similar expressions.
Further information regarding these and other risks is included in
our annual report and other filings with the U.S. Securities and
Exchange Commission (the “SEC”). All information provided in this
press release is as of the date of this press release, and PDN
undertakes no obligation to update any forward-looking statements,
except as may be required under applicable law.
Press Contact for IPDN:
For further information, please contact:Professional Diversity
Network, Inc.Tel: (312)
614-0950Email: investors@ipdnusa.com
Source: Professional Diversity Network, Inc.
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