QINGDAO, China, Jan. 6, 2021 /PRNewswire/ -- SOS Limited
(NYSE: SOS) (the "Company" or "SOS") announced today that SOS
has entered into employment agreement with Dr. Eric H. Yan, an
expert in cryptocurrency mining, security and insurance
technologies. Dr. Yan is expected to utilize his cryptocurrency
mining, protection, insurance expertise and his industry
resources to lead SOS's efforts to set up a new business to
apply blockchain-based security and insurance technologies in the
safeguard of cryptocurrencies and digital assets, and strategically
upgrade SOS's existing portfolios of products and services. SOS
plans to set up a new wholly owned subsidiary SOS Digital
Technologies Inc., to be led by Dr Yan.
Dr. Eric H. Yan is a renewed
expert in the blockchain security for cryptocurrency and
digital assets in China. Dr
Yan has applied seven patents in China related to decentralized cryptocurrency
wallets and exchanges, the protections and insurance for digital
assets and cryptocurrencies, and blockchain-based security
framework and solutions. Prior to joining SOS, Dr Yan founded
Shenzhen eSecureChain Technologies
Inc which offered various lines of products and services including
decentralized cryptocurrency wallets and exchange platforms, and
crypto mining; the protection and insurance technologies for
digital assets and cryptocurrencies; assets digitization and
tokenization; blockchain-based security framework and solutions;
Decentralized Finance (DeFi) and etc.
SOS anticipates to utilize the new subsidiary to be spearheaded
by Dr. Yan to provide the infrastructure services in blockchain
security for its big data insurance marketing and rescue services,
and even providing insurance and banking services for digital
assets and cryptocurrencies.
SOS Chairman Mr. Yandai Wang commented, "Since digital assets are one form of
assets and cryptocurrencies are one form of currencies, there
should have been digital assets insurance companies and
cryptocurrency banks. So far, there has been none such institute.
The primary reason might be that, without solid secured protection
and insurance technologies for digital assets and cryptocurrencies,
any kind of digital assets insurance and cryptocurrency banking
services will be risky, like a skyscraper on sands. Especially
because almost all of existing cryptocurrency wallets and exchanges
are centralized today. Dr Yan's technologies have revolutionized
the way to protect our digital assets and cryptocurrencies from
being attacked and lost. The truly decentralized
cryptocurrency wallet and exchange technologies developed by
Dr Yan have been proven to be bullet-proof. Once SOS Digital
Technologies Inc is created, SOS plans to launch the first
digital assets insurance company and the first cryptocurrency bank
in the world, backed up by Dr Yan's technologies. This venture is
urgent as about 20% of cryptocurrencies are stolen or lost every
year. Such venture is highly necessary as DCEP, the sovereign
cryptocurrency offered by the central Bank of China, is in its testing stage and other
sovereign cryptocurrencies are coming soon."
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 32 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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SOURCE SOS Limited