(Yicai Global) Jan. 5 -- Shares of ChinaNet Online Holdings Inc. [NASDAQ:CNET], an integrated online advertising, precision marketing and data-analysis and management services platform, surged after it announced a partnership with blockchain ecosystem builder Wuxi Jingtum Network Technology Co.
The stock gained nearly sevenfold to close at USD9.34 each share yesterday from USD1.17 on Jan. 3.
This strategic partnership between ChinaNet and Jingtum is focused on blockchain technology to build a credible, fair and transparent platform for business opportunities and transactions," Beijing-based ChinaNet said in a statement released yesterday.
Designed for the cryptocurrency Bitcoin, blockchain is a publicly visible, largely anonymous digital ledger. It is among the hottest of technologies with innovators pursuing other possible uses for it. Last year saw investors in thrall to blockchain, and this year appears to be no different.
ChinaNet Chief Executive Handong Cheng said, "With the introduction of blockchain technology, the platform-centric services in the past will gradually shift towards decentralization, solving trust issues in business cooperation and services and enhancing user vitality and stickiness."