F1soft, a Korean company specialized in AI-based smart-factory solutions and represented by Oh Shenghao, and Waltonchain, a Chinese-Korean IoT + blockchain platform operator represented by the International Market Director June Liu intend to cooperate on the joint usage of blockchain and AI to promote the smart-factory industry.
On August 23, F1soft and Waltonchain negotiated the introduction of smart tags and other smart-factory hardware on blockchain platforms and its joint production for goods circulation and logistics. The parties reached a service agreement on construction of a smart factory platform promoting AI and blockchain. Due to the ongoing Covid epidemic, the agreement was concluded online.
The parties plan to promote products and technologies in China and internationally. Waltonchain’s IoT + blockchain anti-counterfeit technology will be introduced to Io Tag smart tags developed by F1soft. Waltonchain’s RFID technology and F1soft’s smart tag technology will be used for joint development of comprehensive technical solutions that will be marketed in China and internationally.
F1soft is an enterprise integrating smart factory with AI data platforms. Earlier this year, F1soft joined the regional industry support project for AI learning using big data and AI convergence organized by the Ministry of Science and ICT of Korea. Its product Io Tag for UWB precise positioning is about to enter mass production.
Waltonchain operates IoT-based blockchain platforms for circulation and logistics. It introduces technologies of outstanding Korean enterprises to China and invests in them. It also promotes smart cities in Jinhu and Yancheng, China, and supports AI and blockchain startups.
F1soft representative Oh Shenghao stated: “The combination of AI and blockchain can promote the development of smart factories. We are looking forward to fruitful cooperation under this agreement.”
Waltonchain International Market Director June Liu expressed: “Integration of blockchain companies in circulation and logistics with AI smart-factory companies is an inevitable trend. This agreement is a good sign for China-Korea business relations that have shrunk due to the epidemic.”
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