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The Chinese concept company announced that it would develop blockchain applications, and its share price soared 698% yesterday

Time : 27/10/2021 Author : alq0r1 Click : + -
        [techweb report] on January 5, China concept Co., Ltd. announced that it would carry out blockchain technology related cooperation with Wuxi Jingtong technology. According to the statement released by CNNIC on Thursday, the cooperation mainly focuses on blockchain technology to create "a reliable, fair and transparent business opportunity and trading platform". The two companies will be committed to developing trusted, traceable and highly secure blockchain applications for business entities. According to the official website, China network carrier group (nasdaq:cnet), founded in 2003, is an Internet group company that provides business opportunities for small and medium-sized enterprises and investment and entrepreneurship opportunities for individuals as its core services.
        At present, there are a number of small and medium-sized enterprise customers on the China network, with an annual turnover of more than 100 million yuan. According to the official website of Jingtong technology, the company's products include "commodity link", "exchange link" and so on. Commodity link is to model physical assets through blockchain, establish an electronic circulation network of physical assets, provide help for enterprises to flow and sell goods faster, and promote faster capital turnover. Exchange link is that Jingtong applies the concepts of Internet and blockchain to cross-border payment, cross-border exchange and other exchange fields to solve the problems of slow transaction speed, long transaction cycle and high intermediate link costs of the existing system. Blockchain technology, blockchainchnology, is very popular now.
        It is also known as distributed ledger technology. It is an Internet database technology, which is characterized by decentralization, openness and transparency, so that everyone can participate in database records. Virtual currency bitcoin is one of the earliest and most mature applications of blockchain technology. Specific application of blockchain: the revised Securities Law in France will take effect next year, and institutions will be able to issue specific securities through blockchain, such as fund shares or private company shares, without having to issue through traditional intermediaries that they are required to use in some cases; ASX, the main stock exchange in Australia, said it would replace the system for recording holdings with the blockchain bookkeeping technology developed by digitalassettholdings, and manage the clearing and settlement of stock transactions.
        ASX expects that this transformation will make the sharing of large amounts of data more efficient and save customers money. In addition, CNNIC is not the only company to seize the business opportunities of blockchain boom. Longislandicedteacorp., a beverage manufacturer also listed on Nasdaq, was renamed longblockchaincorp. last month, And said, "the focus of the company's business will shift to exploring opportunities to invest in making full use of blockchain technology". The company's share price has doubled since then. However, foreign media said that this surge reminded people of the craziest period before the foam of technology stocks in the late 1990s.
        The share price of blockchain company riotblockchain soared by more than 600%, most of which was achieved after the company shifted its focus to investing in blockchain technology in October 2017. Prior to that, the company was called bioptixinc., which was a company manufacturing diagnostic equipment for the biotechnology industry. (Song Xing).
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