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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

BLOCKCHAINS ACQUIRES SLOCK.IT

June 3, 2019

SPARKS, NEVADA and MITTWEIDA, GERMANY, June 03, 2019 (GLOBE NEWSWIRE) --

Blockchains, LLC, a company dedicated to conceptualizing, building, and incubating blockchain-powered ideas, today announced its acquisition of slock.it, a leading innovative German blockchain development company focused on connecting real-world devices to the blockchain.This acquisition will increase Blockchains’ technical capabilities and accelerate development of Blockchains’ digital asset custody and digital identity solutions, the governance model for its planned distributed collaborative entity, as well as a number of the company’s other projects. Additionally, Blockchains will support further development and expansion of slock.it’s existing products, including Incubed, which connects internet of things (IoT) devices to the Ethereum blockchain, and its IoT-layer solution that addresses the security and interoperability problems in many existing IoT systems.“This is an exciting acquisition for Blockchains,” said president David Berns. “slock.it’s team of nearly three dozen experienced developers and professionals will allow Blockchains to significantly fast-track its product roadmap and enhance its collaboration efforts.” With this acquisition, slock.it’s internationally renowned founders Christoph and Simon Jentzsch will become Blockchains’ vice president of technology and director of blockchain development, respectively. Christoph has been an integral part of the Ethereum project since 2014, serving as a lead tester for the Ethereum Foundation to secure and shape the network’s core protocol. Simon is a leading software architect and Ethereum programmer with a 20-year history of deploying enterprise solutions. “We have the same passion for creating a sharing economy powered by blockchain, and for creating a safe and secure entry point to the third-generation World Wide Web,” said Christoph Jentzsch.“This is a natural marriage,” said Blockchains CEO and founder Jeffrey Berns. “With Blockchains’ partnerships and slock.it’s technical prowess, this union allows us to fulfill the promises of blockchain technology and foster an ecosystem that applies blockchain solutions to better our everyday lives.”This alignment further illustrates Blockchains’ commitment to the Ethereum blockchain ecosystem. Blockchains and slock.it are currently preparing to release a series of open-source tools for the Ethereum developer community over the next several months.Blockchains and slock.it will continue to operate out of their respective offices in the United States and Germany. The companies expect to substantially increase the capacity of their development teams within the next year. About Blockchains, LLCBlockchains develops and incubates blockchain-powered products and partnerships. The company owns more than 67,000 acres in northern Nevada that it intends to use as a sandbox for showcasing blockchain and other innovative technologies that simplify fundamental aspects of our daily lives. Projects currently in development focus on custodial storage of digital assets, self-sovereign identity, and decentralized products and systems for use in its planned blockchain-based smart city.About slock.itslock.it, founded in 2015, is an innovative German company with its roots in the original development of the Ethereum network. The company serves to bring the benefits of blockchain – transparency, security, and auditability – to real-world devices. With Incubed, slock.it enables humans and machines to securely participate in the evolving economy of things.

Attachments

-- Blockchains-logo-full-color-light@4x -- slockit logo

Sarah Johns Blockchains, LLC 775-391-0407 sjohns@blockchains.com

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