BRD, a digital currency wallet developer that has received investments from US-based Fintech Ripple and Japanese financial services company SBI Holdings, has branched out into the enterprise blockchain industry.
BRD’s latest initiative, called “Blockset,” aims to provide services to traditional banks, financial services providers and consultancy companies, BRD confirmed on January 17. Blockset offers ready-to-use tools, which assist companies in developing blockchain-powered apps quickly and at affordable costs.
In statements shared with the Block, Spencer Chen, chief marketing officer at BRD, noted:
“Ten of the top 15 companies that are hiring the most for blockchain projects are not crypto companies; they include companies such as Cisco, Verizon, JPMorgan Chase, et al. That’s the segment Blockset wants to own.”
SBI Holdings, one of BRD’s main investors, is notably one of Blockset’s first clients, Chen confirmed, while revealing that the idea of establishing Blockset actually came from SBI’s management.
“SBI initiated the discussions for us to commercialize our infrastructure IP into Blockset. They had a critical need for Blockset for some of their initiatives. That’s when we made the decision to expand into the enterprise blockchain market.”
BRD’s developers noted that it took them around 11 months to establish Blockset and launch the platform. They reportedly began working on the project in early 2018. Blockset presently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ripple, Hedera Hashgraph and the Ethereum blockchain networks. Other major crypto platforms will be added later this year, the BRD team said.
The enterprise blockchain industry has become quite crowded, as giant IT firms including IBM, Accenture, and Big Four auditing firms KPMG and Deloitte, and several other DLT-focused companies have been offering their own high-performance solutions. However, Chen says that his firm is prepared for the challenge and that Blockset aims to work cooperatively with these firms, including KPMG, in order to improve the efficiency of business processes.