ZW Data Action Technologies Completes Its Blockchain Infrastructure Platform
December 01 2020 - 6:30AM
ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the
"Company"), an integrated online advertising, precision marketing,
data analytics and other value-added services company serving
enterprise clients, today announced the completion of its
Blockchain Integrated Framework for Retail Business, or BIF.
With its strategic move to expand to blockchain
industry in early 2018, ZW Data has been devoting its efforts to
research and development of blockchain underlying technology. It
has since developed two blockchain-powered applications, OMG and
Bo!News. The Company then has been building BIF to provide a
framework platform for more accessible and efficient integration of
small and medium sized retail business users. BIF provides on-time
delivery, real-time information, and record-time service for retail
business users while consolidating both key opinion leader (“KOL”)
and Online-to-Offline (“O2O”) marketing and advertising
information. Harnessing the benefits of blockchain-powered
technology, BIF could improve security, give retailers more
control over their data, and create new forms of marketing to help
retailers meet consumer needs with higher precision and capture the
value otherwise missed. ZW Data plans to complete the integration
of BO!News and OMG onto BIF for commercial release by the early
2021 and launch BIF to retail business users in mid-2021.
“We have built BIF based on our 20 plus years of
business, advertising and precision marketing data. With
distributed data storage, point-to-point transmission, encryption
algorithm and other advanced blockchain-powered technology, BIF
will offer a fully-managed platform to allow solutions to rapidly
adapt to different business scenarios and perform multiple tasks
across industries. We are committed to creating a digitized smart
ecosystem for small and medium sized retailers to improve their KOL
and O2O channel efficiency, build traceable trust and remove
friction and fraud. We anticipate BIF will be officially launched
in 2021 and we expect to present a credible, traceable, and highly
secured blockchain application infrastructure platform to our
retailer users,” commented Handong Cheng, Chairman and Chief
Executive Officer of ZW Data.
About ZW Data Action Technologies Inc.
Established in 2003 and headquartered in
Beijing, China, ZW Data Action Technologies, Inc. (the “Company”)
offers online advertising, precision marketing, data analytics and
other value-added services for enterprise clients. Leveraging its
fully integrated services platform, proprietary database, and
cutting-edge algorithms, ZW Data Action Technologies delivers
customized, result-driven business solutions for small and
medium-sized enterprise clients in China. The Company also develops
blockchain and artificial intelligence enabled web/mobile
applications and software solutions for general public, enterprise
clients, and government agencies. More information about the
Company can be found at: http://www.zdat.com/.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ZW Data Action
Technologies Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"anticipates," "estimates" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including business uncertainties relating to
government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general
and other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are
or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking
statements are based on ZW Data Action
Technologies current expectations and beliefs concerning
future developments and their potential effects on the Company.
There can be no assurance that future developments
affecting ZW Data Action Technologies will be those
anticipated by ZW Data Action Technologies. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the Company) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by such
forward-looking statements. ZW Data Action
Technologies undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
For more information, please contact:
Sherry
Zheng Weitian Group
LLCEmail: shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386
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