Meten EdtechX Initiates Blockchain Technology Strategic Plan and to Introduce Dogecoin Reward Mechanism
March 30 2021 - 8:00AM
Meten EdtechX Education Group Ltd. (Nasdaq: METX)
(“Meten EdtechX” or the “Company”), a leading omnichannel
English language training (“ELT”) service provider in China, today
announced that the Company has initiated its blockchain technology
strategic plan (the “Plan”) and will introduce a Dogecoin reward
mechanism on the platform of Likeshuo for foreign teachers.
Dogecoin is the second largest cryptocurrency in the world after
Bitcoin.
The Company has divided the Plan into three
major stages:
Preliminary Test Period
The first stage, which is the preliminary test
period, the Company plans to introduce a Dogecoin reward mechanism
to offer incentives to foreign teachers. Students can reward the
teachers with Dogecoins based on their teaching performance and
teachers can also earn Dogecoin rewards by undertaking teaching and
research tasks published on the Company’s platform. In addition,
students can also earn Dogecoins by completing their studies and
sharing knowledge on the platform.
Joint Development Period
In the second stage, the joint development
period, the Company will actively seek cooperation with online
education regulators and blockchain technology service providers to
build a healthy ecosystem of mutual benefit by leveraging the
technological advantages of blockchain. The Company also plans to
cooperate with 3rd parties to build an ecosystem to protect
copyright, verify teachers’ qualification, record students’
competency indicators more effectively while better protecting
students’ privacy.
Technology Integration
Period
The third stage is the technology integration
period, in which the Company expects to integrate its own resources
and technological strengths, apply blockchain, artificial
intelligence, 5G and other cutting-edge technologies to further
revolutionize online education and provide students with
high-quality education services.
About Meten EdtechX
Meten EdtechX is a leading ELT service provider
in China, delivering English language and future skills training
for Chinese students and professionals. Through a sophisticated
digital platform and a nationwide network of learning centers, the
Company provides its services under three industry-leading brands:
Meten (adult and junior ELT services), ABC (primarily junior ELT
services) and Likeshuo (online ELT). It offers superior teaching
quality and student satisfaction, which are underpinned by cutting
edge technology deployed across its business, including AI-driven
centralized teaching and management systems that record and analyze
learning processes in real time.
The Company is committed to improving the
overall English language competence and competitiveness of the
Chinese population to keep abreast of the rapid development of
globalization. Its experienced management is focused on further
developing its digital platform and expanding its network of
learning centers to deliver a continually evolving service
offerings to a growing number of students across China.
For more information, please
visit: https://investor.metenedu-edtechx.com.
Safe Harbor Statement
This announcement contains forward-looking
statements that involve risks and uncertainties. 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,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. A number 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 impact of the COVID-19 outbreak, our
ability to attract students without a significant decrease in
course fees; our ability to continue to hire, train and retain
qualified teachers; our ability to maintain and enhance our brands;
our ability to effectively and efficiently manage the expansion of
our school network and successfully execute our growth strategy;
the outcome of ongoing, or any future, litigation or arbitration,
including those relating to copyright and other intellectual
property rights; competition in the English language training
sector in China; changes in our revenues and certain cost or
expense items as a percentage of our revenues; the expected growth
of the Chinese English language training and private education
market; Chinese governmental policies relating to private
educational services and providers of such services; health
epidemics and other outbreaks in China; and general economic
conditions in China. Further information regarding these and other
risks is included in our annual report on Form 20-F and other
documents filed with the Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release and in the
attachments is as of the date of this press release, and the
Company undertakes no duty to update such information, except as
required under applicable law.
For investor and media inquiries, please
contact:
Ascent Investor Relations LLCTina Xiao+1
917-609-0333tina.xiao@ascent-ir.com
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