Blockchain Firm Blockchains.com Acquires Germany’s Slock.It Company, An Early Ethereum Developer
Blockchains.com Has Acquired German’s Slock.It Company
- Slock.it was acquired by Blockchains.com.
- The collaboration will help to further the advancement of blockchain technology in multiple use cases.
A German company named slock.it has recently become a subject of interest to the blockchain industry. This company, which is tied directly with the original development of Ethereum, was recently acquired by Blockchains.com, which is an incubation and investment firm for blockchain technology.
The main purpose of this interest is due to the way it allows for the secure participation of the economy of things with humans and machines, using the Ethereum blockchain to make it happen. With the new merger, both companies can compile their sources, along with their knowledge, dealing with the issues in security and interoperability that commonly face the currency IoT systems.
Christoph Jentzsch, the co-founder of slock.it, stated,
“We have the same passion for creating a sharing economy powered by blockchain, and for creating a safe and secure entry point to the third-generation World Wide Web.”
The company was formed in 2015, providing real-world devices with the benefits that blockchain boasts – “transparency, security, and auditability.” Formerly, the firm had created the Decentralized Autonomous Organization (DAO), which ultimately failed after attempting to organize the rules and governance, but without needing a centralized overhead.
Now, the company is hoping to release multiple open-source tools for developers within the Ethereum community for the next few months. The president of Blockchains,’ David Berns, commented that the 30+ developer team with slock.it will make it possible to “fast-track” the roadmap that Blockchains set up, while improving upon the collaborative efforts.
Simon Jentzsch, the co-founder of the company and the brother of Christoph, will become the director of blockchain development. Christoph, on the other hand, will be the vice president of technology.
Presently, Blockchains takes up over 67,000 acres, located in northern Nevada. This space is meant to be used as a sandbox that can offer plenty of information about blockchain technology and other types of innovative tech that can positively impact the daily lives of people around the world.