Nevada-based blockchain incubator and investment firm, Blockchains LLC has acquired German blockchain development company, slock.it. Blockchains shared the press release on June 6.
Slock.it is responsible for the development of the now-defunct decentralized autonomous organization (DAO) The DAO project.
As per the release, Blockchains acquisition of slock.it will boost its technical abilities and assist in the development of digital asset custody and digital identity solutions.
Furthermore, slock.it will require Blockchains’ assistance in extending its existing lineup of products like Incubed. The Incubed project claims to connect the Internet of Things (IoT) devices to the Ethereum blockchain.
Adding about the acquisition of an exciting new venture, Blockchains’ President David Berns said –
“slock.it’s team of nearly three dozen experienced developers and professionals will allow Blockchains to significantly fast-track its product roadmap and enhance its collaboration efforts.”
Following the merger, Christoph and Simon Jentzsch, founders at slock.it, will hold positions as Vice President of Technology and Director of Blockchain Development at Blockchains’ LLC.
“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,” Christoph had his say about the acquisition.
The announcement concluded by highlighting, Blockchain’s commitment towards the betterment of Ethereum blockchain. Also adding, both companies are planning to release a set of open-source tools for the ethereum developer community over the next few months.
The organizations will continue to operate from their respective offices located in the United States and Germany, the release added.
In May 2019, Blockchains’ advertising agency R&R Partners won two industry awards for the Global Launch Event held in Prague during DEVCON 2018.
Meanwhile, Blockchains’ plans on building a “blockchain-based smart city,” having purchased 67,000 acres of desert land in Northern Nevada. The announcement of the new city was unveiled by Jeffrey Berns, CEO of Blockchains LLC, at a presentation in Prague. The “yet-to-be-built” city will reportedly feature high tech, high-security park, an R&D facility to bring in all of the technologies together.