By
Godfrey Benjamin
April 16th, 2024
Just over a year ago, Blockchains LLC also acquired Slock.it, an Ethereum startup, and made their founders the director of blockchain development and the Vice President of the technology.
Blockchains LLC has announced its acquisition of Cambridge Blockchain pending the release of their unhosted wallet in 2021. According to Lee Weiss, the Blockchains Executive Vice President, they made the initial contact with Cambridge, and after agreeing on a discussion, Blockchains realized that they have a similar ethos. They concluded and closed the deal just last week.
Just over a year ago, Blockchains LLC also acquired Slock.it, an Ethereum startup, and made their founders the director of blockchain development and the Vice President of the technology according to multiple reports.
Cambridge blockchain had since its inception served multinational banks as well as financial institutions with its identity management platforms. It ensures that the end-user gets access to the personal identity data, something Blockchains LLC prioritizes very well.
There will be a total integration as the blockchain’s digital identity team would be made up of the Cambridge Blockchain Principals. The software developers will join Mathew commons, Muthu Arumugam, and Alex Oberhauser to keep things running. It was reported that PayPal Holdings Inc (NASDAQ: PYPL) has refused to comment on the acquisition of Cambridge.
The diverse and wide array of plans of Blockchains LLC will see the integration of Cambridge’s expertise of biometrically secured credentialing and document provenance. The report did not make any revelation on the financial terms of the agreement. However, it is certain that by January 2021, the integration would be done.
The software solutions of Blockchains LLC uses digital asset management, blockchain connectivity for IoT devices as well as digital identity management to prepare the world for the incoming internet evolution.
Blockchains LLC has over the past few months made a lot of preparation towards the emerging internet economy and Web 3.0, and the acquisition of the Cambridge Blockchain will expand its capacity to provide a wide range of products. The deal will see Blockchains LLC have at its disposal a robust IP portfolio which includes a seasoned technical team, several issued patents as well as an enviable commercial relationship.
According to Weiss, Cambridge Blockchain has a provable and real-world experience when it comes to streamlining identity compliance. Not just that, they are popular in coming out with identity management systems.
Blockchains and Cambridge have a lot in common in terms of their principles. Weiss admitted that both companies have a common ethos and one of their fundamental goals is to see individuals in total control of their data.
Blockchains LLC has over the years made efforts to empower and protect individuals. The coming year is expected to be a year of massive transformation where user-friendly management and security become the central focus in individual digital interactions according to Jeffrey Berns, the founder. They seek to come out with a real-world sandbox that will expose the likes of blockchain and other technologies to the world with their 67,000 acres of land in Northern Nevada.