LONDON, March 2, 2022
Solidus Technologies today announced it had appointed Shanghai-based Sinofy Group to accelerate its expansion into Asian markets. China and South East Asia together form the world’s most digitally connected region, and Sinofy will use its deep knowledge of the region and extensive network to help drive Solidus’ global strategic objectives.
Speaking about the appointment, Solidus Technologies founder Paul Farhi said: “This is an exciting appointment that will provide support to our global strategic objectives — specifically around our moves into Korea, China and Japan. China is a notoriously tough nut to crack, so the partnership with a battle-tested company like Sinofy Group will give us the extra edge we need.”
China is set to stand equal to some of the most powerful countries in the global technology research space in its quest to become a technology-intensive powerhouse. Per Statista, in 2020 the size of the Chinese AI market amounted to over 128 billion Yuan, representing a ten-fold increase since 2016, and the Chinese government has designated technology and innovation as key industries of strategic importance. In 2020 Chinese inventors filed over 20,000 AI-related patents, putting the country in second place behind the US, which filed just under 33,000.
Speaking of the potential of the Chinese market, Farhi said: “China has a population of over 1.4 billion, over 100 cities of more than a million people and 900 million people with internet access. So the potential is huge for a technology company like ours. And with its trade links across the whole of Asia, it’s a vital market for any business with global ambitions.”
By working with Sinofy Group, Solidus will benefit from a highly experienced and globally connected multi-disciplinary team of experts based in Hong Kong, Shanghai, Moscow, Kyiv and New York and gain unparalleled access to a vast global network.
About
Founded in December 2017, Solidus Technologies started as a cryptocurrency mining firm with a particular focus on mining Ethereum (ETH) via GPU-based mining rigs. In the wake of the 2020 financial crash and the significant boost in demand for AI services, the company shifted its core focus to Artificial Intelligence and incorporated Solidus AI Tech to become the AI arm of the business. Solidus’ Artificial Intelligence infrastructure will enable Government Authorities, Megacorps, SME’s and Professionals to purchase AI services. Solidus AI Tech is launching its eco-friendly AITECH token to operate seamlessly with their AI infrastructure. AITECH can be bought, staked or held.
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