StrongBlock, a company that received funding from Magnetic Capital, was able to secure $4 million to work on a new blockchain enterprise solution.
The information was released by the company in a recent press release.
StrongBlock Gathers $4 Million From Investors
StrongBlock’s seed round led by Pangea Blockchain Fund and Copernicus Asset Management SA will allow the company to start developing a breakthrough enterprise blockchain solution to be used by firms, governments and financial institutions. Pangea Blockchain Fund offers intellectual and financial capital to early-stage blockchain companies.
This blockchain network aims at bridging the gaps between the technological needs of companies and the current state of blockchain protocols. Enterprises will be able to easily integrate their legacy systems with advanced blockchain technology and solutions linked to them.
David Moss, the Founder and CEO of StrongBlock, commented:
“Before Red Hat, Linux was nearly impossible for enterprises to put into production. Now Red Hat is Enterprise Linux standard. If there was a way to push a button and get an Enterprise-ready blockchain, you’d move further, faster. StrongBlock does that. We make blockchain easy.”
There are some industries that are trying to implement blockchain technology to solve some of their inefficiencies. Using StrongBlock technology it is possible for these firms to actually implement these solutions.
The company is leveraging EOSIO’s blockchain that provides good performance and the necessary features that firms currently need. It is worth mentioning that David Moss is the former SVP at Block.one, the company behind the EOS blockchain and cryptocurrency.
Maggie Rokkum-Testi, the CIO of Copernicus, said that StrongBlock’s technology will allow blockchain technology to fuel massive business transformation in many different industries. Thus, the firm will be helping blockchain technology to reach a larger number of individuals around the world.
Firms are starting to use blockchain technology and they would clearly need a platform that will be streamlining the whole implementation process.