Digital Asset Holdings and Blockstack.io announced that they have entered into an agreement under which Digital Asset will acquire San Francisco-based Blockstack, a firm that offers a “blockchain-as-a-service” to enable financial institutions to develop applications on a private blockchain.
Blockstack’s technology is available in beta today and offers a hosted platform for financial institutions to develop blockchain-based applications using application programming interfaces (APIs) and software development kits (SDKs). The firm’s underlying platform leverages both open-source and proprietary technologies to create a private blockchain that is used by a group of known participants. Blockstack’s customizable solutions include multi-signature security and the ability to plug in external components. “Blockstack is building powerful blockchain application development tools and Digital Asset is the best platform to deliver these as part of a comprehensive client solution,” said Miron Cuperman, CTO and founder of Blockstack. Blockstack was a “Best of Show” winner of FinovateFall 2015, a two-day conference showcasing more than seventy cutting-edge financial technology companies. The two companies will integrate their product offerings and ensure a seamless integration for clients.
About Digital Asset Holdings:
Digital Asset Holdings brings 21st century technology to existing financial infrastructure. It develops technology that aids efficiency, transparency, compliance and settlement speed using cryptographic, distributed ledgers.
Source: Digital Asset Holdings