ZW Data Action Technologies, an integrated online advertising, precision marketing, data analytics and other value-added services company serving enterprise clients, announced the completion of its Blockchain Integrated Framework for Retail Business, or BIF.
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With its strategic move to expand to blockchain industry in early 2018, ZW Data has been devoting its efforts to research and development of blockchain underlying technology. It has since developed two blockchain-powered applications, OMG and Bo!News. The Company then has been building BIF to provide a framework platform for more accessible and efficient integration of small and medium sized retail business users. BIF provides on-time delivery, real-time information, and record-time service for retail business users while consolidating both key opinion leader (“KOL”) and Online-to-Offline (“O2O”) marketing and advertising information. Harnessing the benefits of blockchain-powered technology, BIF could improve security, give retailers more control over their data, and create new forms of marketing to help retailers meet consumer needs with higher precision and capture the value otherwise missed. ZW Data plans to complete the integration of BO!News and OMG onto BIF for commercial release by the early 2021 and launch BIF to retail business users in mid-2021.
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“We have built BIF based on our 20 plus years of business, advertising and precision marketing data. With distributed data storage, point-to-point transmission, encryption algorithm and other advanced blockchain-powered technology, BIF will offer a fully-managed platform to allow solutions to rapidly adapt to different business scenarios and perform multiple tasks across industries. We are committed to creating a digitized smart ecosystem for small and medium sized retailers to improve their KOL and O2O channel efficiency, build traceable trust and remove friction and fraud. We anticipate BIF will be officially launched in 2021 and we expect to present a credible, traceable, and highly secured blockchain application infrastructure platform to our retailer users,” commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.
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