Dr. Huazhong (Eric) Yan A Renowned Cryptocurrencies Security Expert Joins SOS to Spearhead SOSs Effort to Expand into Digital Assets Security Industry
SOS Limited (NYSE: SOS) announced an employment agreement with Dr. Eric H. Yan, an expert in cryptocurrency mining and security technologies. Dr. Yan will lead SOS's new subsidiary, SOS Digital Technologies Inc., focused on applying blockchain-based security for digital assets. With seven patents in related technologies, Dr. Yan aims to establish the first digital assets insurance company and cryptocurrency bank, addressing a critical gap in the market where 20% of cryptocurrencies are lost annually. SOS continues to innovate in big data, cloud computing, and blockchain solutions.
- Appointment of Dr. Eric H. Yan to lead SOS Digital Technologies Inc. enhances expertise in cryptocurrency security.
- Dr. Yan's seven patents may provide competitive advantages in blockchain security and digital asset protection.
- New subsidiary aims to launch the first digital assets insurance company and cryptocurrency bank.
- None.
QINGDAO, China, Jan. 6, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that SOS has entered into employment agreement with Dr. Eric H. Yan, an expert in cryptocurrency mining, security and insurance technologies. Dr. Yan is expected to utilize his cryptocurrency mining, protection, insurance expertise and his industry resources to lead SOS's efforts to set up a new business to apply blockchain-based security and insurance technologies in the safeguard of cryptocurrencies and digital assets, and strategically upgrade SOS's existing portfolios of products and services. SOS plans to set up a new wholly owned subsidiary SOS Digital Technologies Inc., to be led by Dr Yan.
Dr. Eric H. Yan is a renewed expert in the blockchain security for cryptocurrency and digital assets in China. Dr Yan has applied seven patents in China related to decentralized cryptocurrency wallets and exchanges, the protections and insurance for digital assets and cryptocurrencies, and blockchain-based security framework and solutions. Prior to joining SOS, Dr Yan founded Shenzhen eSecureChain Technologies Inc which offered various lines of products and services including decentralized cryptocurrency wallets and exchange platforms, and crypto mining; the protection and insurance technologies for digital assets and cryptocurrencies; assets digitization and tokenization; blockchain-based security framework and solutions; Decentralized Finance (DeFi) and etc.
SOS anticipates to utilize the new subsidiary to be spearheaded by Dr. Yan to provide the infrastructure services in blockchain security for its big data insurance marketing and rescue services, and even providing insurance and banking services for digital assets and cryptocurrencies.
SOS Chairman Mr. Yandai Wang commented, "Since digital assets are one form of assets and cryptocurrencies are one form of currencies, there should have been digital assets insurance companies and cryptocurrency banks. So far, there has been none such institute. The primary reason might be that, without solid secured protection and insurance technologies for digital assets and cryptocurrencies, any kind of digital assets insurance and cryptocurrency banking services will be risky, like a skyscraper on sands. Especially because almost all of existing cryptocurrency wallets and exchanges are centralized today. Dr Yan's technologies have revolutionized the way to protect our digital assets and cryptocurrencies from being attacked and lost. The truly decentralized cryptocurrency wallet and exchange technologies developed by Dr Yan have been proven to be bullet-proof. Once SOS Digital Technologies Inc is created, SOS plans to launch the first digital assets insurance company and the first cryptocurrency bank in the world, backed up by Dr Yan's technologies. This venture is urgent as about
About SOS Limited
SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS transforms digital technology into data-driven operations through the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence.
We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.
SOS has obtained a national high-tech enterprise certification and the title of "big data star enterprise," awarded by Gui'an New District Government. Staying on the forefront of digital technology innovation, the Company has registered 32 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/
Forward-Looking Statements
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Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. SOS's SEC filings are available publicly on the SEC's website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.
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