Home / CRYPTOCOINS / Energy Giant Engie Backs ‘Blockchain Studio’ With $2.3 Million Funding

Energy Giant Engie Backs ‘Blockchain Studio’ With $2.3 Million Funding

French vivacity company Engie and business consulting group Maltem are launching a new blockchain progress spinoff for commercial clients, the companies announced Friday.

Dubbed Blockchain Studio, the new speculation will target clients in Asia and Southern Europe, Engie chance in a press release. Its first product is a software suite that “accelerates and industrializes the implementation of blockchain hurls.”

“Most blockchain projects stagnate at the ‘proof of concept’ stage and this technology peacefulness remains the domain of experts and specialists,” the company said in its release.

The mechanisms will help in developing smart contracts, “making it accessible to owners with no technical knowledge,” as well as managing “the establishment of blockchain infrastructure get-at-able in the cloud or directly on the company’s server.”

The startup secured 1.9 million euros (unmercifully $2.3 million) in seed funding. The team now includes 10 individual and is going to grow up to 25 by the end of 2019, Engie said. The company also designs to open a branch in Singapore sometime next year.

Last Trek, Engie joined a group of energy companies and Grid Singularity, a Vienna-based blockchain startup, in the Vim Web Foundation (EWF) aiming to foster blockchain projects in the energy sector for commercial deployment.

In July, Engie’s corporate dig into center, Engie Lab CRIGEN, through its Computer Science and Artificial Savvy Lab, signed a Memorandum of Understanding with The IOTA Foundation to explore prove the possible use of blockchain in energy management, smart cities, smart structures and mobility.

Building blocks image via Shutterstock

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