Luokung affiliated BotAiot to P
BEIJING, May 10, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”)a leading intelligent spatial and temporal big data service company and provider of location-based interactive services (“LBS”) and high-definition maps (“HD Maps”) in Chinatoday announced that the Company’s operating subsidiary, beijing Intelligent BotAiot Co., Ltd. (“BotAiot“), has signed a service contract with the Research Institute of the Ministry of Road Transport (the “Road Research Institute”) under which BotAiot provide electronic blockchain certificate and data storage platform services to the Highway Research Institute to improve the efficiency of road transport infrastructure and equipment calibration testing and throughputs of traffic.
BotAiot will create a blockchain-based electronic certificate consortium chain for the Highway Research Institute to store and encrypt data collected by commercial transportation vehicle online calibration measurement and test equipment from both highways and vehicles. BotAiotThe electronic consortium chain of will also provide consortium chain member management, smart contract development, certificate issuance, query, cancellation, management and other functions, as well as blockchain custodian. The total number of devices in the electronic certificate alliance chain service exceeds six million units, which are expected to be fully covered within the next two years. BotAiot will charge a fixed service fee per unit per year.
The service system integrates cloud computing, artificial intelligence, live media streaming, Internet of Things, electronic fence, blockchain and other technologies to realize online data collection at distance measuring equipment related to roads and vehicles. Combined with artificial intelligence technologies, BotAiotThe service system can automatically identify, label and test collected data, then store the data, test reports and certificates on the blockchain, and issue an electronic certificate for the device. The system can improve the efficiency of infrastructure and transportation equipment calibration testing by shortening the test cycle, thus improving traffic safety and efficiency, and greatly reducing labor costs. The system will be applied to multiple scenarios involving measurement equipment calibration testing, including vehicle axle type identification equipment at national highway entrances and exits, vehicle axle type identification equipment vehicle size, on-board equipment on long-distance buses, tourist buses, trucks and dangerous vehicles. material transport vehicles, as well as equipment for inspecting the condition of road bridges and tunnels.
Mr. Song XuesongChairman and CEO of Luokung, said, “We are pleased to announce the cooperation with the Highway Research Institute, a leader in the integration of scientific research and industrial development related to road transport. Luokung has actively promoted the application of blockchain technology in various spatiotemporal big data fields. This contract marks the beginning of our commercial services in the field of road transport. Combining Luokung’s blockchain and artificial intelligence technologies, we plan to strengthen our relationships and expand our reach of blockchain services with more corporate and institutional partners who recognize Luokung’s competitiveness in road transport.”
Mr. Xueyu LuCEO of BotAiot added, “Blockchain and other distributed ledger technology services are fundamentally changing the service models of various industries, helping enterprises to reconstruct and manage identity, data, brand, provenance, professional certification, copyright and other assets while improving the security of data management and the immutability of authentication and transaction records.”
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatiotemporal intelligent big data service company, as well as a leading provider of LBS and HD boards for various industries in China. Relying on its proprietary technologies and expertise in HD maps and multi-source intelligent spatial and temporal big data, Luokung has established holographic spatial-temporal digital twin systems at the city and industry levels and actively serves industries such as smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource management (carbon-neutral remote sensing data service and environmental protection), and LBS smart industrial applications (LBS mobile internet, travel smart, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company regularly provides important updates on its website: https://www.luokung.com.
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Mr. Jay Yu
E-mail: [email protected]
M/s. Caroline Sohn
Equity Group Inc.
E-mail: [email protected]
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SOURCE Luokung Technology Corp.