The Startup Behind Ethereum's Infamous DAO Has Been Acquired

Blockchains.com steps into the internet of things with the with the acquisition of slock.it

Jun 3, 2019 at 8:30 p.m. UTC
Updated Sep 13, 2021 at 9:16 a.m. UTC

, a blockchain incubation and investment firm, announced today the acquisition of slock.it, a German company with roots in the original development of ethereum.

Blockchains was primarily interested in slock.it’s Incubed project which enables human and machines secure participation in the economy of things through the ethereum blockchain. The merger will allow both companies to combine resources and institutional knowledge to work through the security and interoperability issues within existing IoT systems.

“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,” said Christoph Jentzsch, co-founder of slock.it, in a statement.

Founded in 2015, slock.it aims to extend blockchain’s intrinsic benefits "transparency, security, and auditability to real-world devices." The firm was previously behind the failed Decentralized Autonomous Organization (DAO), which sought to codify the rules and governance of an organization without a centralized overhead through eliminating the need for documents and decision makers.

The company is also planning to release a collection of open-source tools for the ethereum developer community over the next several months, according to the statement.

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.

Christoph and his brother and co-founder Simon Jentzsch will become Blockchains’ vice-president of technology and director of blockchain development, respectively.

Blockchains owns more than 67,000 acres in northern Nevada which it intends to use as a sandbox for showcasing blockchain and other innovative technologies that simplify fundamental aspects of our daily lives.

Miniatures image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
What Is Bitcoin Pizza Day?

In May, 2010 Laszlo Hanyecz set out to buy two large pizzas with bitcoin.

In May, 2010 Laszlo Hanyecz set out to buy two large pizzas with bitcoin.

2
Celsius Network Files Draft S-1 Form to Take Its Mining Unit Public

The filing is expected to become effective after the SEC completes its review process, subject to market and other conditions.

The filing is expected to become effective after the SEC completes its review process, subject to market and other conditions.

3
Mawson to Develop New Bitcoin Mining Site in Texas

The facility could accommodate up to 4 EH/s of mining power.

The facility could accommodate up to 4 EH/s of mining power.

4
German Regulator Calls For New DeFi Laws

BaFin's Birgit Rodolphe said decentralized applications like insurance, lending and securities could be subject to significant fraud and losses, and called for EU-level action.

BaFin's Birgit Rodolphe said decentralized applications like insurance, lending and securities could be subject to significant fraud and losses, and called for EU-level action.