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Agency Manages and Regulates 26 Cross Border Ports and Marketplaces Along China’s Southwestern Border
Zhuhai, China, June 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Powerbridge Technologies Co., Ltd. (the “Company”) (PBTS), a global trade software applications and technology services provider, today announced the launch of Powerbridge Blockchain Cross Border Compliance Platform at Nanning Customs, as part of the National Customs Cross Border Technology Innovation Initiatives. Nanning Customs manages and regulates 26 cross border ports and marketplaces along China’s southwestern border spanning 497 miles with neighboring Southeast Asian countries.
Powerbridge Blockchain Cross Border Compliance Platform is provided as blockchain-as-a-service to Nanning Customs starting with designated and limited use cases. The blockchain technology-enabled compliance applications and services are designed to allow the customs agency to significantly increase the effectiveness of risk assessments and interventions in monitoring and controlling the flow of goods, documents, and vendors for cross border trade events and transactions, with an enhanced level of regulatory information transparency and synchronization among customs agencies and other government authorities.
Ban Lor, CEO of Powerbridge Technologies, said: “After nearly two years of focused investments in developing our blockchain solutions, we are very pleased to launch our Blockchain Cross Border Compliance Platform, initially at Nanning Customs. While relatively early stage, feedback has been positive and encouraging. We look forward to steady advancements of our blockchain technologies and services as we drive continued growth in our business.”
Powerbridge Technologies Co., Ltd. is a provider of software applications and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge’s mission is to make global trade easier by empowering all players in the ecosystem. For more information, visit www.powerbridge.com/en
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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Powerbridge Technologies Co., Ltd.
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