SHANGHAI, March 29, 2021 /PRNewswire/ -- Molecular Data
Inc. ("Molecular Data" or the "Company") (Nasdaq: MKD), a leading
technology-driven platform in China's chemical industry, today announced
that following the collaboration with China's listed UCloud to further drive digital
transformation to upgrade the chemical, medical, and new materials
industries, Molecular Data has signed a 3 year IPFS (Interplanetary
File System) customized operational arrangement with an renowned
industry partner to gear up its data services.
Molecular Data is addressing the inadequacies faced in the
various industries including deploying Blockchain solutions
accordingly. Without IPFS, file storage costs and efficiency
remains high. As such, Molecular Data intends to tap on the merits
of IPFS such as decentralization of data; less costs, efficiency
and data security.
This move by Molecular Data follows the steps of global
giants in the storage space who have invested considerable
technology efforts in IPFS and related applications.
The strategic MOU will also help bring in the appropriate
technical providers needed in the upgrade, including maintenance
and technical services.
About Molecular Data Inc.
Molecular Data Inc. is a leading technology-driven platform in
China's chemical industry,
connecting participants along the chemical value chain through
integrated solutions. The Company delivers e-commerce solutions,
financial solutions, warehousing and logistics solutions, and SaaS
suite that are intended to solve pain points for participants in
the traditional chemical industry. Built upon a comprehensive
knowledge engine and artificial intelligence (AI) capabilities, the
Company's e-commerce solutions are mainly offered through its
online platform, consisting of molbase.com,
molbase.cn, Moku Data WeChat account, Chemical Community APP
and other ancillary platforms.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "aims," "future," "intends,"
"plans," "believes," "estimates," "confident," "potential,"
"continue" or other similar expressions. Among other things, the
quotations from management in this announcement, as well as the
Company's strategic and operational plans, contain forward-looking
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, 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
but not limited to statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a variety
of factors could cause actual results to differ materially from
those contained in any forward-looking statement, including but not
limited to the following: the Company's goals and strategies; the
Company's future business development, results of operations and
financial condition; the expected growth of the chemical market;
the Company's ability to monetize the user base; fluctuations in
general economic and business conditions in China; the potential impact of the COVID-19 to
the Company's business operations and the economy in China and elsewhere generally; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company's
filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and the Company undertakes
no duty to update such information, except as required under
For investor and media inquiries, please contact:
Molecular Data Inc.
SOURCE Molecular Data Inc.