BEIJING, Jan. 04, 2018 (GLOBE NEWSWIRE) -- ChinaNet-Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the "Company"), an integrated online advertising, precision marketing and data-analysis and management services platform, today announced a strategic partnership with Wuxi Jingtum Network Technology ("Jingtum" or "Jingtum Technology"), the credible blockchain ecology builder and announced the expansion into the blockchain industry and its related technology. Both companies will utilize their respective advantages and exchange each other's work together to jointly develop blockchain applications.
Through the contribution of underlying technologies in the blockchain, Jingtum Technology aims to develop a new generation of value-based internet technologies in China helping to upgrade from an information-based network to a value-based exchange network, establishing a credible ecology and promoting preparation as Chinese enterprises enter a new era of digital assets.
Jingtum’s system is a decentralized and ecologically interactive internet trading network based on blockchain technology. The system addresses data trust issues through cryptography and distributed coherency mechanisms while maintaining rich transactional and contractual features.
This strategic partnership between ChinaNet and Jingtum is focused on blockchain technology to build a credible, fair and transparent platform for business opportunities and transactions. Both companies will aim to develop credible, traceable, and highly secured blockchain applications for business entities. Both companies agree that blockchain technology enjoys extremely large demand in applications for small and medium-sized enterprises including product traceability, product certification, disintermediation, customer identification, and brand communication. The most fundamental value and significance is that the enterprise brand and reputation can be converted into digital form and enter the global digital asset trading market for transactions and circulation. It is believed that the application of blockchain in the field of business development and marketing can help SMEs across the world to build a new business ecosystem based on algorithmic trust.
Mr. Handong Cheng, CEO of ChinaNet-Online, stated, "With the introduction of blockchain technology, the platform-centric services in the past will gradually shift towards decentralization, solving trust issues in business cooperation and services and enhancing user vitality and stickiness.” Mr. Cheng continued, “ChinaNet-Online will also gradually shift from information services to transaction services for business opportunities to create a multi-industry cross-chain value-based internet sharing entity. This partnership will help ChinaNet to further integrate blockchain technology into our CloudX artificial intelligence and simultaneously create the public chain of marketing and advertising for small and medium enterprises, eventually branching out from these areas to gradually cover other applications such as business transactions payments, education and training to create a healthy and sustainable business ecosystem and entrepreneurial environment."
Mr. Yuanwen Wu, CEO of Jingtum Technology, Dean of the Blockchain Research Institute of WOGC of the United Nations and Deputy Secretary-general of Zhongguancun Big Data Industry Alliance said "The application of blockchain technology specifically tailored for SMEs will create a brand-new world of value business opportunities."
About ChinaNet-Online Holdings, Inc.
ChinaNet-Online Holdings, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI (ChinaNet), is an integrated online advertising, precision marketing and data-analysis and management services platform. ChinaNet provides prescriptive analysis for its clients to improve business outcomes and to create more efficient enterprises. The Company leverages an optimization framework, provided by its comprehensive data-analysis infrastructure, to blend data, mathematical, and computational sciences into an outcome management platform for which it monetizes on a per client basis. ChinaNet uniquely optimizes and prescribes its clients decision making processes based on its proprietary ecosystem. For more information, visit www.chinanet-online.com.
About Wuxi Jingtum Network Technology
Wuxi Jingtum Network Technology Co., Ltd. is a high-tech company, located in Wuxi New Area National Software Park focusing on developing the blockchain technology platform to provide both business and personal digital asset interconnection, interflow, sharing, and co-management of technical ecosystem architecture for enterprises and personal digital assets. Founded in 2014, Jingtum Technology officially operated in China and started the business application of blockchain technology in China. Jingtum's core staff are from top Silicon Valley and Chinese blockchain technical companies and other key major internet segments, such as financial, telecommunications, security, and big data industries. In 2015, Jingtum built the first commercial application based on blockchain technology in China. Jingtum has the only blockchain technology in China that has been pilot ran on large-scale applications with the local government on digital assets. They are also currently co-founding DAB, www.goetcc.com. For more information, please log in the website www.jingtum.com.
Safe Harbor
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, 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 ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. 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. ChinaNet 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.
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