ZW Data Action Technologies Inc. (CNET) stock prices were up by 15.22% shortly after market trading commenced on October 7th, 2021. This brought the price per share up to USD$1.32 early on in the trading day.
CNET Stock Launches BIF Platform
October 7th, 2021 saw CNET stock announce the launch of its Blockchain Integrated Framework (BIF) platform. The platform will serve the business applications of Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi). The projected market size of the platform is USD$150 billion. The BIG automation platform is designed to provide micro, small and medium enterprises (MSMEs) one stop creation, development, efficient management, intelligent operations, and maintenance of enterprise-level blockchain network and application services.
The service solutions provided by the BIF platform is investment light and development light blockchain technology. The platform will enable MSMEs to quickly implement digital transformations and adopt solutions of NFT and DeFi. The blockchain technical advantages owned by BIF Platform ensure that business data will not be tapered with during the storage process. MSMEs can also record and supervise data for their business processes, thereby gaining more business value based on the trusted data. Furthermore, the BIF Platform supports a myriad of blockchain technology underlay. This enables on-demand deployment with guaranteed safety and security of data storage and transfer.
The BIF platform divides functions into high quality APIs and SDKs. This facilitates the provision of more expansive, easy and standardized tools for MSME users with different development needs. This is hoped to successfully solve the existing challenges of high development cost, long process times, low efficiency and high risk in blockchain applications to MSMEs. The BIF Platform offers process templates and framework covering the supply chain to users without blockchain development capability. These users are also provided with risk control management and other common functions. These offerings serve to minimize the cost of enterprise blockchain operation and development to achieve increased benefits.
Future Outlook for CNET Stock
CNET stock is poised to capitalize on the expanded scope of opportunity afforded to the company in light of its foray into the cryptocurrency space. The company is keen to maintain the momentum it has generated over the previous few quarters. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal effectively. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.