Ethereum’s Infamous DAO Creator firm Has Been Acquired

A German company with roots in the original development of ethereum has acquired Blockchains.com, a blockchain incubation, and investment firm. The blockchains project dubbed ‘slock.it’, aimed at using the ethereum blockchain to enable humans and machines to secure participation in the economy of things. The blockchains firm was behind the previously failed initiative which sought to codify the rules and governance of an organization without a centralized overhead through eliminating the need for documents and decision makers. It was called Decentralized Autonomous Organization (DAO). It was sometimes labeled a decentralized autonomous corporation and was represented by rules encoded as a computer program that is transparent, controlled by shareholders and without central government influence.

This synergy, by way of acquisition will allow combined resources and institutional knowledge from both companies to be leveraged against security and interoperability issues within existing IoT systems. In a statement Christoph Jentzsch, co-founder of slock.it said:

“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,”

Slock.it since it was founded in 2015 has aimed to extend “transparency, security, and auditability to real-world devices.” which are blockchain’s intrinsic benefits as they say. According to the statement, the company intends to use a span of several months to release a collection of open-source tools for the ethereum developer community.

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.’

Blockchains’ vice-president of technology will be Christoph and his brother while the director of blockchain development would be co-founder Simon Jentzsch. In addition to that reveal, Blockchains will use acres that it owns in the north of Nevada as a sandbox for showcasing blockchain and other innovative technologies that simplify fundamental aspects of our daily lives.

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Credits- Daniel Kuhn

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