The Syscoin project recently announced the formation of a company entity called Blockchain Foundry. The newly created Foundry will work with blockchain technologies including Bitcoin, Lisk, Ethereum, and Syscoin itself. The project team also revealed its first commercial product, an ecommerce platform called Blockmarket.
What Blockchain Foundry Will Do
The Syscoin team has established a blockchain solutions platform for individuals and institutions. Blockchain Foundry will offer products that are designed to be interoperable between a variety of blockchains.
The Foundry’s initial offering will be an ecommerce platform running on top of the Syscoin network. The project developers claim it will enhance relationships with retailers and consumers by decreasing listing costs. The company also states Blockmarket will also feature “100% uptime and state-of-the-art security.”
The Syscoin blockchain is the Foundry’s first creation. Syscoin is also a member of the Microsoft Azure Blockchain-as-a-Service (“BaaS”) platform Azure, a toolkit that allows companies to test aspects of blockchain technology – such as smart contracts – on their systems in a protected environment.
The Foundry says the Blockmarket platform is currently being tested for Microsoft certification, and the team expects it to be available on the Azure Marketplace this year.
Dan Wasyluk, President and CEO of Blockchain Foundry, explained the significance of the announcement for his team:
The announcement of Blockchain Foundry is an important milestone in our development as a maturing fintech organization.— Our ability to keep pace with these changes is exemplified by the recent release of the Syscoin 2.0 reference client in May 2016. We are working with our partners at Microsoft to obtain product certifications on the Azure Marketplace platform, making Blockchain Foundry’s product the first bitcoin-derived offering to be Microsoft Azure certified.
Blockmarket Product To Accelerate The Team’s Vision
Blockchain Foundry has also allowed a sneak peek at its web-based platform, Blockmarket. Users will have the ability to create their own custom marketplaces designed around their personalities and products.
The team also highlighted that Blockmarket will have a unique personal web wallet interface, giving users portable access to the Syscoin network across multiple devices. This will allow users to buy and sell goods, send and receive Syscoin, and utilize its encrypted messaging platform.
The Foundry says the Blockmarket application is just one part of the company’s long-term strategy. Future mobile wallets will be created for both iOS and Android and they will also replicate the Blockmarket storefront experience.
The project is entirely open source and the company has plans for implementing “revenue-generating initiatives” in the near future. The firm is also staffing up its team and raising funds to progress the company’s mission. Blockchain Foundry CEO Dan Wasyluk said:
In tandem with our product initiatives, we have added additional talent to our team aimed specifically at raising capital to bolster our development resources and accelerate the realization of our vision to be a leading blockchain services company.
The Blockchain Foundry seems to have an ambitious vision of where they want to take the company. The newly formed company says that more information about Blockmarket’s launch and other enhancements to the protocol will be announced in the coming months.
The Foundry states it will continue to be focused on providing businesses and individuals “the ability to trade goods, assets, digital certificates and data securely.”
What do you think about the Blockchain Foundry initiative and its flagship product Blockmarket? Let us know in the comments below.
Images courtesy of Blockchain Foundry, Medium