SOS Announces Development of Cutting-edge Series of Security Systems Based on Blockchain and AI Technology Competing the Initial Phase of its Blockchain Strategy
SOS Limited (NYSE: SOS) announced the successful completion of initial steps in its blockchain strategy, developing advanced security systems, all registered with the PRC Copyright Protection Center. The company holds nearly 100 software copyrights and four certifications related to cloud computing and blockchain. A new subsidiary, Qingdao SOS Digital Technologies Inc., focuses on cryptocurrency and blockchain-based insurance research. Management plans to invest 15% of revenue into R&D, expecting over 10% annual growth in the budget for the next five years.
- Successful development of advanced blockchain and AI-based security systems.
- Possession of nearly 100 software copyrights and four certifications enhances IP portfolio.
- Establishment of a new subsidiary for blockchain and cryptocurrency research.
- Commitment to invest 15% of revenue in R&D, indicating growth potential.
- None.
QINGDAO, China, Jan. 29, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that it has completed the initial steps of the execution of its blockchain strategy, and successfully developed cutting-edge firewall system, personal biological information storage system, and antivirus system all of which are based on blockchain and AI. Copyright of these software systems have been registered with the PRC Copyright Protection Center.
In addition, SOS also owns close to 100 software copyrights and 4 certification, all of which are related to cloud computing for rescue and insurance marketing, and blockchain-based Infrastructure. These intellectual property assets demonstrate a solid and complete ecosystem for marketing solution for the rescue service and insurance industry based on blockchain, big data, AI, 5G and satellite network in compliance with the industry, national and international standards, such as ISO, etc.
SOS recently established a subsidiary named "Qingdao SOS Digital Technologies Inc." to be focusing on the research of cryptocurrency and blockchain-based insurance, blockchainized security management, DeFi, etc, Dr. Eric (Huazhong) Yan is appointed as the President of this newly created subsidiary. Management expects to announce more innovative solutions and products related to the blockchainized security framework in the near future.
SOS Chairman Yandai Wang commented, "R&D is our lifeblood and our growth engine. We anticipate investing
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 99 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/
Forward-Looking Statements
Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties;, SOS's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans and etc. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. SOS may not realize its expectations, and its beliefs may not prove correct. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its 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.
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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