Benzinga | Jul 30, 2021 08:01AM EDT

Taoping Reports Strategic Cooperation Deal With Shenzhen IntelStrat Technology Co., No Terms Disclosed

Taoping Inc. (NASDAQ:TAOP, the &ldquo, Company&rdquo, or &ldquo, TAOP&rdquo, ))), a provider of blockchain technology and smart cloud services, announces today that it has entered into a strategic cooperation agreement (the "Agreement") with Shenzhen IntelStrat Technology Co., Ltd. ("IntelStrat").

Established in 2016, IntelStrat is a blockchain technology service company that provides comprehensive enterprise-class blockchain solutions to businesses and organizations. Its current services include distributed storage, data center infrastructure, and digital transformation. So far, IntelStrat has provided professional blockchain adoption solutions for more than 100 enterprises and institutions and provided blockchain adoption consulting services for more than 300 enterprises and institutions.

Pursuant to the Agreement, which has a term of three years, TAOP and IntelStrat will seek in-depth collaboration in three aspects:

* Jointly establish a data service center based on distributed storage for cloud desktop, cloud rendering, cloud gaming, and artificial intelligence service business.

* Jointly expand market share in enterprise blockchain adoption by applying IntelStrat's blockchain technology to TAOP's existing areas for potential enterprise blockchain adoption.

* Jointly establish a blockchain industry fund and actively explore and invest in emerging blockchain companies to promote the application of blockchain technology in more industries.

"We believe blockchain technology can provide a solution to companies facing challenges of security and real-time connectedness, " said Mr. Jianghuai Lin, Chairman and CEO of TAOP. "By cooperating with partners like IntelStrat, we'll be able to solve more real-world business problems and bring industry-leading solutions to our customers."