SHENZHEN, July 30, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Company” or “TAOP”), a provider of blockchain technology and smart cloud services, announces today that it has entered into a strategic cooperation agreement (the “Agreement”) with Shenzhen IntelStrat Technology Co., Ltd. (“IntelStrat”).
Established in 2016, IntelStrat is a blockchain technology service company that provides comprehensive enterprise-class blockchain solutions to businesses and organizations. Its current services include distributed storage, data center infrastructure, and digital transformation. So far, IntelStrat has provided professional blockchain adoption solutions for more than 100 enterprises and institutions and provided blockchain adoption consulting services for more than 300 enterprises and institutions.
Pursuant to the Agreement, which has a term of three years, TAOP and IntelStrat will seek in-depth collaboration in three aspects:
- Jointly establish a data service center based on distributed storage for cloud desktop, cloud rendering, cloud gaming, and artificial intelligence service business.
- Jointly expand market share in enterprise blockchain adoption by applying IntelStrat’s blockchain technology to TAOP’s existing areas for potential enterprise blockchain adoption.
- Jointly establish a blockchain industry fund and actively explore and invest in emerging blockchain companies to promote the application of blockchain technology in more industries.
“We believe blockchain technology can provide a solution to companies facing challenges of security and real-time connectedness, ” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “By cooperating with partners like IntelStrat, we’ll be able to solve more real-world business problems and bring industry-leading solutions to our customers.”
About Taoping Inc.
Taoping Inc. (TAOP) is an integrated group of technology and financial companies with business in Mainland China, Hong Kong, and other overseas countries. Relying on its unique strengths in cloud technology and chip supply chain, TAOP provides solutions and cloud services to industries such as film and television production, education, new media, artificial intelligence and asset management. The Company is dedicated to the research and application of blockchain technology as well as investment and management of financial assets at home and abroad. To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Taoping 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:
Dragon Gate Investment Partners LLC