The cloud and blockchain technology company, Taoping Inc (NASDAQ: TAOP), on July 30, announced signing a strategic agreement with IntelStrat or Shenzhen IntelStrat Technology Co., Ltd. The agreement allows the entities to collaborate on key values, which are explained in subsequent sections.
What’s the agreement?
According to the strategic deal, the two are responsible for establishing a data service center. This will be based on distribution storage for cloud gaming, cloud desktop, cloud rendering, and artificial intelligence business.
Apart from this, the strategic agreement allows the two firms to jointly expand the market share in the adoption of enterprise blockchain by applying the blockchain technology of IntelStrat to the present potential and existing areas of Taoping Inc. The purpose of this segment is the potential adoption of enterprise blockchain.
The two companies shall be establishing a blockchain industry fund. At the same time, they will actively explore and fund while investing in the blockchain companies to promote blockchain technology applications in many industries.
The benefit of the strategic alliance
The CEO and Chairman of Taoping Inc (NASDAQ: TAOP), Mr. Jianghuai Lin, said that blockchain technology could offer security and real-time connectedness to the companies facing these challenges. The company said that alliance with IntelStrat allows these companies to solve and work on more problems that are associate with real-world business. Such strategic solutions enable companies to bring industry-leading solutions for the customers.
About Taoping Inc
Taoping Inc is a Mainland China-based integrated group of financial and technology companies specializing in cloud technology and solutions associated with the chip supply chain. The service industries of the company include asset management, artificial intelligence, new media, education, television production, and more.