ChinaNet-Online Holdings, Inc. announced that it has entered into an agreement with Wuxi Jingtum Network Technology and Ford tree Beijing)Blockchain Technology Co., Ltd. (Ford Tree) to establish a new joint venture company to research and develop blockchain technology and its applications for ChinaNet’s blockchain technical and business units. ChinaNet will act as the controlling shareholder leading all aspects of the project. The new JV will be registered in the territory of the People’s Republic of China and will be established in early February of 2018. Jingtum’s Chief Technology Officer and other leading experts will be involved in the establishment of the new JV. The R&D team under the new JV will help ChinaNet design the underlying foundation of unique layered blockchain architecture, develop the cross-chain functionality between the principal and subordinate chains, realize the circulation of certain assets between different chains, design intelligent contract mechanisms to support complex logic, and complete the cloud service model and other important underlying technology. The framework of this platform will have an on-line beta test in February. Ford Tree will be responsible for creating and reviewing the operating model for blockchain applications.