Slock.it, the development firm behind the renowned “DAO” project will now be acquired by Blockchains

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Well in the game of who acquires whom, major news was reported on the 3rd of June.

According to a press release, a recent announcement has been made which indicates that Slock.it, a German Ethereum dev team has been acquired by the LLC which is a United States-based blockchain incubator and investment firm Blockchains.

SLOCK.it and The DAO Project

As per the reports, it was clearly stated that Slock.it’s team is around 3 dozen large. The firm (Slock.it), as of now, is being known for its creation of The DAO project. As far as the present scenario is concerned, this project is just a nonfunctioning decentralized autonomous organization(DAO) project.

It was further brought to notice that Co-founders as well as brothers Christoph and Simon Jentzsch will join Blockchains as their new designations. While Christopher will be joining as the VP of Technology, Simon will join as director of Blockchain development.

Plans After the Acquisition

Now a proper manifesto has already been kept safe which indicates the plans after the completion of the Acquisition process.

These plans include the fact that newly-linked organizations will reportedly ship a line of open source tools for the Ethereum dev.

Not just this, but the team also plans to work on the existing projects, such as Blockchains’ digital asset custody product as well as slock.it’s “Incubed” which involves major tasks that revolve around connecting IOT to Ethereum Blockchain.

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