Blockchains smart city company buys blockchain device connectivity company
Blockchains LLC, which plans to build a blockchain-based smart city outside of Nevada buys Slock.it
Blockchains LLC, a US company that is planning to build a ‘blockchain-based smart city’ has acquired Slock.it, a company specialised in solutions to connect devices to blockchain-based systems.
Bloomberg reports that Slock.it was acquired for an undisclosed amount by Blockchains LLC, a company that bought over 67,000 acres of desert land in Nevada, USA, last year.
Slock.it produces a small form client device, called Incubed, to connect devices like smart appliances and vehicles to Ethereum-blockchain based systems. The device uses minimal bandwidth and power.
The company has also developed a Universal Sharing Network (USN), using Incubed to connect devices that can be used in sharing schemes.
The deal will help Blockchains “fast forward” its plans to marry theoretical uses of blockchain technology with real-world applications, President David Berns said in an interview.
Blockchains bought the tract of desert for $155m last year. The land is outside of Sparks, Nevada, in a location that is also home to Tesla’s Gigafactory and an industrial park with facilities operated by Google and Apple.
Blockchains said it plans to break ground on a main campus and cryptocurrency storage facility within a year, and the smart city project within five years.