BEIJING, December 1, 2020 (GLOBE NEWSWIRE) – ZW Data Action Technologies, Inc. (Nasdaq: CNET) (“ZW Data” or the “Company”), an integrated online advertising, precision marketing, data analytics and other value – An added service company serving corporate clients, today announced the completion of its Blockchain Integrated Framework for Retail Business, or BIF.
With its strategic move to expand to the blockchain industry in early 2018, ZW Data has dedicated its efforts to researching and developing the underlying blockchain technology. It has since developed two blockchain-based applications, OMG and Bo! News. The company therefore developed BIF to provide a framework platform for more accessible and efficient integration of small and medium-sized retail users. BIF provides on-time delivery, real-time information and record-time services to retail business users, while consolidating both marketing and advertising information from key opinion leaders (“KOL”) and Online to Offline (“O2O “). By harnessing the benefits of blockchain-based technology, BIF could improve security, give retailers more control over their data, and create new forms of marketing to help retailers meet consumer needs more accurately and capture otherwise lost value. ZW Data plans to complete the integration of BO! News and OMG on BIF for commercial release by early 2021 and to launch BIF to retail business users in mid-2021.
“We built BIF based on our more than 20 years of precision business, advertising and marketing data. With distributed data storage, point-to-point transmission, encryption algorithm and other advanced blockchain-based technologies, BIF will offer a fully managed platform to enable solutions to quickly adapt to different business scenarios and perform multiple tasks in all sectors. We are committed to creating a digitized smart ecosystem for small and medium-sized retailers to improve the efficiency of their KOL and O2O channels, build traceable trust, and remove friction and fraud. We expect BIF to be officially launched in 2021 and expect to present a credible, traceable and highly secure blockchain application infrastructure platform to our retailer users, “commented Handong Cheng, President and CEO of ZW Data.
About ZW Data Action Technologies Inc.
Founded 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 to corporate clients. Leveraging its fully integrated service platform, proprietary database, and state-of-the-art algorithms, ZW Data Action Technologies offers customized and result-oriented business solutions for small and medium-sized business customers in China. The Company also develops blockchain and artificial intelligence-enabled web / mobile applications and software solutions for the general public, corporate clients and government agencies. Further information on the Company is available 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 may 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 the government regulation of our industry, market demand, dependence 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 expected, believed, estimated or expected. Some of these risks and uncertainties are or will be described in more 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 regarding future developments and their potential effects on the Company. There is 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 could cause actual results or performance to differ materially from those expressed or implied in such forward-looking statements. ZW Data Action Technologies undertakes no obligation to publicly update or revise any forward-looking statements, if as a result of new information, future events or otherwise, except as required by applicable securities laws.
For more information, please contact:
Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386
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