CNIT Announces Research on Applying Blockchain Technology to Innovate Taoping New-media Ecosystem
January 22 2018 - 8:00AM
China Information Technology, Inc. (NASDAQ: CNIT), a leading
provider of internet-based ad distribution and ad display terminal
sharing systems in China, today announced that it has initiated
in-depth research on the application of blockchain, aiming to
innovate the Taoping new-media sharing ecosystem, and to deliver
higher returns to Taoping ecosystem partners and users.
CNIT will conduct research on the application of blockchain into
the Taoping ecosystem, to find out a more efficient and secure
solution for payment transfer, and a better mechanism to collect
internal data and reward end users. With the existing loT
technology and the future application of blockchain, it is expected
that CNIT will be able to upgrade the accuracy of advertising
distribution on ad terminals, to improve the users’ experience and
ultimately, reinvent the profit distribution mechanism to
vertically integrate industry resources.
Consumers can use Taoping Net and Taoping (淘屏) App to buy and
distribute real-time ads on more than 10,000 terminals now. The
terminals are currently available in ten cities of China, including
Shenzhen, Guangzhou, Shanghai, Ningbo, Nanjing, Quanzhou, Changde,
Wuhan, Zhengzhou, Kunming, and will soon be accessible in more
metropolitan areas. Taoping ecosystem is growing and aims to become
one of the largest domestic ecosystems in the advertising industry
in the near future.
“We believe that the research on blockchain is a promising
opportunity for us,” said Mr. Jianghuai Lin, Chairman and CEO of
CNIT, “As the developer and leading operator of the Taoping
ecosystem, we keep up with the development of new technologies as
we are devoted to keeping upgrading and optimizing our
services.”
About China Information Technology, Inc.China
Information Technology, Inc. (CNIT) is a leading Internet service
company that provides integrated cloud-based solutions enabling
innovation and smart living in the fields of new media, elevator
safety management, education, etc. Through continuous innovation,
CNIT is aiming to leverage its proprietary
Cloud-Application-Terminal technology to level the competitive
landscape in the new media industry and deliver value for its
shareholders, employees, customers, and the community. To learn
more, please visit http://www.chinacnit.com.
Safe Harbor Statement This press release may
contain certain "forward-looking statements" relating to the
business of China Information Technology, Inc., and its
subsidiaries and other consolidated entities. All statements, other
than statements of historical fact included herein, are
"forward-looking statements" in nature within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements, often identified by the use of
forward-looking terminologies such as "believes", "expects" or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company’s actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company’s periodic reports that
are filed with the Securities and Exchange Commission and available
on its website (http://www.sec.gov). All forward-looking statements
attributable to the Company and its subsidiaries and other
consolidated entities or persons acting on their behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.
For further information, please contact:
China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: IR@chinacnit.com
http://www.chinacnit.com
or
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: cnit@dgipl.com
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