WiMi Developed a Blockchain-Based Trust Approach for Cloud Computing to Address Security in Services

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Jul 19, 2024, 11:00 ET

BEIJING, July 19, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that it developed a blockchain-based trust approach for cloud computing to address trust and security issues in cloud computing services through technological innovation, while meeting increasingly stringent regulatory requirements and market demands.

WiMi's blockchain-based trust approach for cloud computing, firstly, establishes a decentralized trust framework so that the trust evaluation process is no longer dependent on a single central node. A blockchain network is constructed that consists of multiple nodes, each of which is involved in the verification and recording of trust information. These nodes can be cloud computing service providers, users or other third-party organizations. Through the blockchain's distributed ledger technology, each node can participate in the verification and recording of trust evidence, which improves the transparency and tamper resistance of the whole system. This decentralized nature not only reduces the risk of a single point of failure, but also ensures the common recognition of the trust state by all participants through the consensus mechanism.

In addition, the technology framework automates the trust management process by integrating smart contracts. Based on the trust model, smart contracts are developed to automate the trust management process. The smart contract contains all the logic of trust management, such as user authentication, permission verification, and behavior monitoring. Smart contracts can execute automatically when preset conditions are met, which not only improves the efficiency of trust management, but also reduces human intervention and the possibility of fraud and error. In addition, the application of smart contracts also makes the trust management rules more flexible and customizable, which can be adjusted according to different application scenarios and needs, thus providing more accurate trust support for various cloud computing services.

WiMi's blockchain-based trust approach for cloud computing integrates data security measures such as end-to-end encryption, access control, etc. in the blockchain network in order to ensure the security and privacy of data stored on the blockchain. The technology framework employs advanced encryption techniques to protect the data stored on the blockchain. With technologies such as end-to-end encryption and zero-knowledge proof, the confidentiality and integrity of data can be ensured even in a decentralized environment. Meanwhile, the combination of mechanisms such as Access Control Lists (ACLs) and Role-Based Access Control (RBAC) allows precise control of access to data, so that only authenticated and authorized users can access the corresponding data resources. Such comprehensive data protection measures provide a strong guarantee for data security in cloud computing environments.

With the ongoing introduction of blockchain-based trust methods in cloud computing, WiMi is addressing increasingly complex cybersecurity challenges through technological innovation. This technology not only enhances the security and trust of cloud computing services, but also improves the efficiency and reliability of the entire system through decentralized and automated smart contracts. It represents the organization's commitment to data protection and user trust, while demonstrating WiMi's leadership role in driving industry security standards.

The successful application of this technology brings a new security paradigm to the field of cloud computing. It not only meets the current market demand for highly secure and trustworthy cloud services, but also provides new possibilities for future technological development and application. The development and application of blockchain-based trust methods is not only a victory on the technical level, but also an important contribution to the entire social trust system. It strengthens the trust relationship between enterprises and users, and lays a solid foundation for building a more secure, open and mutually trusting digital world. With the continuous evolution of technology and the deepening of applications, we have reason to believe that WiMi will continue to exert its influence in the field of cloud computing security and bring better services and experiences to users around the world.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains "forward-looking statements" within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company's strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company's expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company's annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

SOURCE WiMi Hologram Cloud Inc.