Comcast, the largest American global telecommunications conglomerate, has just made a $3.3 million investment in Blockdaemon, a startup that creates enterprise level software that interacts with a wide range of blockchains.
The startup plans to introduce a software that allows enterprises to spin up support nodes on bitcoin and ethereum. This is a significant innovation indeed, and Comcast believes their investment will also help “fuel the growth of other blockchains.”
Gil Beyda, Comcast Ventures managing director expects, “Maybe as a byproduct of our investment in Blockdaemon perhaps we’ll see other companies using blockchain and looking for investment,” and further adds, “We have a lot of folks at Comcast and NBC Universal who are developing blockchain applications, and we thought it was brilliant that [Blockdaemon] came up essentially with blockchain as a service”
Blockdaemon’s blockchain platform allows enterprises to spin up fully supported nodes, starting at a fee of $249/month. Currently, many companies are eyeing ethereum as a viable blockchain to build on, but the potential for Stellar is also high in the current market. Konstantin Richter mentioned that a possible Stellar integration might soon happen. “Stellar is important for us,[…]Because we believe the Stellar ecosystem will be the ethereum of this year,” said Richter.
As of now, Blockdaemon plans to use the newly invested capital to expand its engineering team from 10 to 20, which will also proportionally double the corporate run-rate to around $100,000 a month. A part of the investment will also go into subsidizing the adoption of bitcoin and ethereum platforms down to a rate of $14.99/month.
Also, as a part of the investment, Blockdaemon is the first member of mState – a Comcast and Boldstart backed enterprise blockchain accelerator. As a part of mState, Blockdaemon along with other participants are set to meet around 20 anonymous Fortune 500 companies who are also interested in Blockchains – a blockchain “speed dating” of sorts. MState CEO, Rob Bailey explains that this will help the participants understand the needs of their customers better.