French energy company Engie and business consulting group Maltem are launching a new blockchain development spinoff for commercial clients, the companies announced Friday.
Dubbed Blockchain Studio, the new venture will target clients in Asia and Southern Europe, Engie said in a press release. Its first product is a software suite that "accelerates and industrializes the implementation of blockchain projects."
"Most blockchain projects stagnate at the 'proof of concept' stage and this technology still remains the domain of experts and specialists," the company said in its release.
The tools will help in developing smart contracts, "making it accessible to users with no technical knowledge," as well as managing "the establishment of blockchain infrastructure accessible in the cloud or directly on the company's server."
The startup secured 1.9 million euros (roughly $2.3 million) in seed funding. The team now includes 10 people and is going to grow up to 25 by the end of 2019, Engie said. The company also plans to open a branch in Singapore sometime next year.
Last March, Engie joined a group of energy companies and Grid Singularity, a Vienna-based blockchain startup, in the Energy Web Foundation (EWF) aiming to foster blockchain projects in the energy sector for commercial deployment.
In July, Engie's corporate research center, Engie Lab CRIGEN, through its Computer Science and Artificial Intelligence Lab, signed a Memorandum of Understanding with The IOTA Foundation to explore test the possible use of blockchain in energy management, smart cities, smart buildings and mobility.
Building blocks image via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Jiang Zhuoer: BTC.Top Will Support the Camp Favored by a Majority of Hash Power in the Bitcoin Cash Hash War
Jiang Zhuo’er and his BTC.TOP , a major Chinese mining pool, will not take side in the upcoming Bitcoin Cash’s hash war between two competing camps, Bitcoin ABC and Bitcoin SV. Zhuo’er shared h
F2Pool Will Support the Mining of BCHABC and BCHSV after Bitcoin Cash Hard Fork
F2Pool, the sixth largest bitcoin mining pool in the world, announced on Tuesday that it will allow miners to mine both coins generated from the upcoming Bitcoin Cash hard fork after the chain split
IBM Says Blockchain Can Power 'Open Scientific Research' in New Patent Filing
A patent application published Thursday claims the process of conducting scientific research can benefit from the blockchain.
Led by a team at IBM's Watson Research Center, the patent application p
CFTC Fines Bitcoin Trader $1.1 Million for Crypto Fraud
The U.S. Commodity Futures Trading Commission (CFTC) has jailed a bitcoin trader and fined him over $1 million for running a fraudulent bitcoin and litecoin scheme.
According to a press release iss
Japanese Firms Claim Success in Marine Insurance Blockchain Trial
One of Japan's largest insurance companies, Tokio Marine & Nichido Fire Insurance, and IT firm NTT DATA have completed a trial that put the paperwork for marine cargo insurance claims on a blockchain.
Accenture Puts Software License Management on a Blockchain Platform
Global professional services giant Accenture has rolled out a new software license management application built with tech from distributed ledger startup Digital Asset.
Accenture announced in a pre
Singapore's Central Bank, SGX Develop Blockchain Settlement System
The Monetary Authority of Singapore (MAS) and the country's stock exchange, Singapore Exchange (SGX), have developed a settlement system for tokenized assets that can work across different blockchains
Colorado Regulators Crack Down on Four More ICOs
Colorado regulators took action against four ICOs Thursday, bringing the state's total number of cease-and-desist orders against crypto startups to 12.
The state's "ICO Task Force" rebuked Bitcoin