Notes growing in the soil

Comcast to invest $3.3 million in Blockdaemon

For those who have a financial investment in the future of Bitcoin and cryptocurrencies in general, it is always good news when a large organization either makes a statement or more importantly, a financial investment in the future which confirms that they are also excited about what is in store.

The news last month that Comcast is investing an initial $3.3 million in Blockdaemon, a start up which creates software that enables interaction within a wide range of blockchains.

The very fact that Comcast is getting involved is further evidence that organizations such as these strongly believe that we are embarking on a world with multiple blockchains and that these types of investment are only the tip of the iceberg.

Whilst is this Comcast’s first foray into a blockchain start up, it falls in line with their earlier statement that they are fully intending to put together an aggressive push into this type of blockchain investment.

On studying Comcast’s statement which accompanied the investment it is also evident that they have many employees in place who are also developing blockchain applications, so it is looking likely that Comcast could very well be regarded as one of the forerunners of the industry.

As for Blockdaemon, up to this point they have allowed their clients deployment of Quorum and Multichain but they also announced that they will be including public blockchains in their support network.

It should also be noted that Comcast’s thinking behind this investment is that Blockdaemon’s could also be made available to Comcast’s subsidiaries, so it is not too difficult to understand what an astute investment this could turn out to be.

Comcast’s investment into Blockdaemon will be put to good use as they have announced plans to increase the size of the highly qualified engineering team to 20 with the aim of increasing the corporate run rate to $100,000 per month.

As with any business, the importance of high quality staff should not be under estimated and this is definitely the case in this industry as anyone with the required knowledge and experience are quickly offered job placements.

It would, therefore, seem that this investment is being used correctly as opposed to squandering it on fancy offices and equipment which was a prevalent factor in the early days of the dot-com era.

As with other similar enterprises, Blockdaemon is not only interested in using Ethereum as their blockchain to build on but also using the Stellar cryptocurrency for transaction purposes.

It has also been announced that Blockdaemon will be the first startup of its kind to join forces with mState who are an enterprise blockchain accelerator which is also backed by Comcast.

mState offers marketing and support advice for new start up with invaluable information which will help them pitch to Fortune 500 companies.

The initial relationship with mState will last for 3 months and will culminate with a meeting with up to twenty top companies with the opportunity to win business from them.

Blockdaemon is definitely a start up to keep an eye on, especially over the next few months.