Investors have piled on to the Taoping Inc (NASDAQ:TAOP) stock in a big way which morning after the company announced a new strategic cooperation agreement with Shenzhen IntelStrat Technology Co. Taoping is involved in providing smart cloud and blockchain technology services and after the announcement of the agreement this morning, the stock has rallied by 30% so far.
In this context, it is important for investors to take a closer look at Shenzhen IntelStrat Technology. The blockchain technology service company had been founded back in 2016 and is known for providing blockchain solutions to enterprises. As things stand, it has provided its services to more than 100 enterprises.
As per the terms of the agreement signed with Taoping, the two companies are going to collaborate on the establishment of a data storage service center that is going to be based on distributed storage.
In addition to that, the companies are also going to work jointly on the matter of larger blockchain adoption among enterprises through the use of Shenzhen IntelStrat Technology’s blockchain technology to the existing areas in which Taoping already works. This is an ambitious new partnership that Taoping has got into and it is no surprise that there is considerable optimism in the markets regarding the same.