QINGDAO, China, Jan. 6, 2021 /PRNewswire/ — SOS Limited (NYSE: SOS) (the “Company” or “SOS”) announced today that SOS has entered into employment agreement with Dr. Eric H. Yan, an expert in cryptocurrency mining, security and insurance technologies. Dr. Yan is expected to utilize his cryptocurrency mining, protection, insurance expertise and his industry resources to lead SOS’s efforts to set up a new business to apply blockchain-based security and insurance technologies in the safeguard of cryptocurrencies and digital assets, and strategically upgrade SOS’s existing portfolios of products and services. SOS plans to set up a new wholly owned subsidiary SOS Digital Technologies Inc., to be led by Dr Yan.
Dr. Eric H. Yan is a renewed expert in the blockchain security for cryptocurrency and digital assets in China. Dr Yan has applied seven patents in China related to decentralized cryptocurrency wallets and exchanges, the protections and insurance for digital assets and cryptocurrencies, and blockchain-based security framework and solutions. Prior to joining SOS, Dr Yan founded Shenzhen eSecureChain Technologies Inc which offered various lines of products and services including decentralized cryptocurrency wallets and exchange platforms, and crypto mining; the protection and insurance technologies for digital assets and cryptocurrencies; assets digitization and tokenization; blockchain-based security framework and solutions; Decentralized Finance (DeFi) and etc.
SOS anticipates to utilize the new subsidiary to be spearheaded by Dr. Yan to provide the infrastructure services in blockchain security for its big data insurance marketing and rescue services, and even providing insurance and banking services for digital assets and cryptocurrencies.
SOS Chairman Mr. Yandai Wang commented, “Since digital assets are one form of assets and cryptocurrencies are one form of currencies, there should have been digital assets insurance companies and cryptocurrency banks. So far, there has been none such institute. The primary reason might be that, without solid secured protection and insurance technologies for digital assets and cryptocurrencies, any kind of digital assets insurance and cryptocurrency banking services will be risky, like a skyscraper on sands. Especially because almost all of existing cryptocurrency wallets and exchanges are centralized today. Dr Yan’s technologies have revolutionized the way to protect our digital assets and cryptocurrencies from being attacked and lost. The truly decentralized cryptocurrency wallet and exchange technologies developed by Dr Yan have been proven to be bullet-proof. Once SOS Digital Technologies Inc is created, SOS plans to launch the first digital assets insurance company and the first cryptocurrency bank in the world, backed up by Dr Yan’s technologies. This venture is urgent as about 20% of cryptocurrencies are stolen or lost every year. Such venture is highly necessary as DCEP, the…