Comcast makes a first big bet on a multi blockchain future looks like event invest in big league guys comcast is a banking on a world with multiple block chains revealed exclusively to coin desk the venture arm on the telecommunications giant is leading eight at 3.30 million seed investment in block demon or daemon a New York city-based startup that creates enterprise software for interacting with a wide range of block chains
While block Damon has so far allowed its clients point-and-click deployment of our three escort a hyper ledger fabric multi chain and quorum the startup also revealed today it's widening support into public block chains as well with introduction of software that lets enterprises quickly spin up the support nodes on Bitcoin and aetherium Comcast investment in block Damien is also part of a broader push to jumpstart enterprise blockchain innovation enterprise blockchain innovation behind a private wall probably when it comes to Comcast we can think it can be a great business and we think it can fuel the growth of other block chains that Comcast ventures managing director Gill beta maybe as a byproduct of our investment in a block Damon perhaps will see other companies using blockchain and looking for investment maybe for them guys it's all about just making the money the investment which also saw participation from enterprise venture capital from bold start ventures and enterprise blockchain accelerator em state is Comcast first into a blockchain startup it marks the beginning of what the company previously described as an aggressive push in an enterprise blockchain investment looks like Comcast doesn't want to be left behind my friends while comcast venture strategy doesn't necessarily require that portfolio companies provide a direct service to its 170 billion dollar parent company in this case beta hinted that several subsidiaries could benefit from block Damons products
Beyda who will be joining block Damon's board of directors as part of the deal called coin desk we have a lot of folks at Comcast and NBCUniversal who are developing blockchain applications and we thought it was a brilliant that we thought it was brained that block Damon came up essentially with blockchain as a service mo blockchains guys while this so-called blockchain as a service functionality is not new the public blockchain option reflects a new willingness among enterprises to explore the technology and guys I can say that that's a good thing in the overall meta game it's far back as 2016 companies such as Microsoft that helped coined the phrase blockchain as a service with the launch of its own blockchain sandbox and with Azure cloud integration similarly blocked Damons a blockchain support platform less enterprise spin up fully supported knows starting at $249 a month with part of the recent venture capital investment being used to subsidize adoption of the Bitcoin and a theory platforms down to the rate of $14.99 a month seems reasonable block Damon also plans to use the new capital to double the size of the company's engineering team from 10 to 20 in the next few months resulting in a proportionate doubling of the corporate run rate of to about $100,000 a month while it may seem unlikely at this time that a major enterprise would at least publicly spin up a Bitcoin or aetherium node it's not entirely far-fetched
Not only are more enterprise looking on aetherium as a blockchain to build upon but block Damon CEO and co-founder konstantin richter pointed to another public blockchain stellar as well in October IB M revealed the results of a partnership with stellar that at the chip and maker using Stellar's custom cryptocurrency to settle real transactions as such Richter hinted that a stellar integration that might mean next guys stellar investors rejoice stellar is important for us he said because we believe stellar ecosystem will be the etherium of this year sounds like a chain guys as part of the investment block Damon has formally become the first participant of M state and enterprise blockchain accelerated backed by Comcast and both start with technical and marketing support from IBM throughout the three-month accelerated block Damon will be the first company to trial a boot camp of sorts designed to ensure the product market fit between the company and fortune 500 firms exploring blockchain seems like M state could get some more support in the future guys M state plans to invest in and hosting five and host in five enterprise blockchain startups in the accelerator which offer lessons in pitching to enterprises as well as provide access to a database of a fortune 500 liters as revealed to Coyne desk M State has assembled an enterprise blockchain index that rates 300 companies using a proprietary system while part of the index will be made available to the public most of the metrics will be offered exclusively to M state members and other participants it sounds like it's behind a paywall then our enterprise accelerator will culminate in May with the speed dating around in New York where block Damon and other participants will meet with 20 unnamed fortune 500 companies in further exploring blockchain
Mstate check us out you can add us to the list M state CEO Rob Bailey explained why increasing enterprise interest in blockchain marks a crucial shift in how accelerator operates concluding getting that reality check from customers and what they're actually willing to pay for is an incredibly effective filter to be able to look at where we'll be deploying our capital and time well guys looks like this wasn't as bad as I initially assumed I guess it seems more like Comcast is just playing a financial role they just want to get some gains I'm assuming and be part of the revolution of blockchain and not be left behind other than that doesn't seem like Comcast is going to actually be using blockchain but merely just investigating it however you internets loose out there could know something that I don't let me know in the comments section below below let me know if there's anything more that we've missed here when it comes to Comcast and blockchain and block Damon that's pretty cool name guys and smash the like button for just gonna say the rise of internet internet Bill of Rights we should look into the internet Bill of Rights isn't that a smart idea net neutrality is dead guys we have to move on to the next one