BEIJING, May 10, 2022
/PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO)
("Luokung" or the "Company"), a leading spatial-temporal
intelligent big data services company and provider of interactive
location-based services ("LBS") and high-definition maps ("HD
Maps") in China, today announced
that the Company's operating affiliate, Beijing BotAiot Intelligent Co., Ltd.
("BotAiot"), has signed a service
contract with the Research Institute of the Highway Ministry of
Transport (the "Highway Research Institute") whereby BotAiot will provide electronic
blockchain data and certificate storage platform services to the
Highway Research Institute to improve highway transport
infrastructure and equipment calibration test efficiency and
traffic flow rates.
BotAiot will build a
blockchain-based electronic certificate consortium chain for the
Highway Research Institute to store and encrypt data collected by
online metering and calibration-testing equipment of commercial
transportation vehicles originating from both highways and
vehicles. BotAiot's electronic
consortium chain will also provide consortium chain member
management, intelligent contract development, certificate issuance,
query, cancellation, management and other functions, as well as
blockchain custody services. The total number of devices in the
e-certificate alliance chain service exceeds six million units,
which are expected to be completely covered in the next two years.
BotAiot will charge a fixed
service fee per unit per year.
The service system integrates cloud computing, artificial
intelligence, multimedia live broadcast, Internet of Things,
electronic fence, blockchain and other technologies to realize
remote online data collection of road and vehicle-related metering
equipment. Combined with artificial intelligence technologies,
BotAiot's service system can
automatically identify, label and test collected data, then store
the data, testing reports and certificates on the blockchain, and
issue an electronic certificate for the device. The system can
improve the calibration test efficiency of transportation
infrastructure and equipment by shortening the test cycle, thereby
enhancing traffic safety and efficiency, and significantly reducing
labor costs. The system will be applied to multiple scenarios
involving calibration tests of metering equipment, including
vehicle axle type identification equipment at national highway
entrances and exits, vehicle size identification equipment,
on-board equipment on long-distance buses, tourist buses, trucks,
and hazardous materials transport vehicles, as well as highway
bridges and tunnels condition inspection equipment.
Mr. Xuesong Song, Luokung's
Chairman and CEO, stated, "We are pleased to announce the
cooperation with the Highway Research Institute, a leader in
integrating scientific research and industrial development related
to highway transportation. Luokung has been actively promoting the
application of blockchain technology in various fields of
spatial-temporal big data. This contract marks the beginning of our
commercial services in the field of highway transportation.
Combining Luokung's blockchain and artificial intelligence
technologies, we anticipate strengthening our relationships and
expanding our scope of blockchain services with more enterprise and
institutional partners that recognize Luokung's competitiveness in
highway transportation."
Mr. Xueyu Lu, CEO of BotAiot added, "Blockchain and other
distributed ledger technology services are fundamentally changing
the service models of various industries, helping enterprises
reconstruct and manage identity, data, brand, provenance,
professional certification, copyright and other assets while
improving the security of data management and the immutability of
transaction authentication and records."
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies
and expertise in HD Maps and multi-sourced intelligent
spatial-temporal big data, Luokung has established city-level and
industry-level holographic spatial-temporal digital twin systems
and actively serves industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among others).
The Company routinely provides important updates on its website:
https://www.luokung.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains certain forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding our or our management's expectations, hopes,
beliefs, intentions or strategies regarding the future and other
statements that are other than statements of historical fact. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate", "believe", "continue", "could",
"estimate", "expect", "intend", "may", "might", "plan", "probable",
"potential", "should", "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's
examination and analysis of the existing law, rules and regulations
and other data available from third parties. Although we believe
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you the statement herein will
be accurate. As a result, you are cautioned not to rely on any
forward-looking statements.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com
Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com
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SOURCE Luokung Technology Corp.