BlockApps, ConsenSys’ spun-off company, is collaborating with Bayer Crop Science of multiple pilot projects, which were initiated as Proof-of-Concepts (PoC) earlier in 2018.
Bayer Crop Science is formerly known as Monsanto, the controversial agricultural giant, and, according the division’s global digital strategy manager Michael Pareles, the multinational company is looking to increase its applications of Blockchain in both its operations as well as the larger industry.
BlockApps Growth Plans
BlockApps was originally spun-off from ConsenSys in 2016 and raised more than $3 million in its original funding round, which included investors such as Fenbushi Capital, besides its parent company. Ethereum co-founder Joseph Lubin is a majority stakeholder in the company.
According to the Chief Executive Officer of BlockApps Kieren James-Lubin, the focus of the startup is to graduate multiple clients into live services from their current product modes this year.
For example, Blockskye, a Blockchain startup that manages bookings as well as inventory in the travel industry, is one client of BlockApps’ that has already moved out of the PoC stage.
According to Blockskye’s CEO Brook Armstrong, the software developed by BlockApps has become a key backend system or the company. The startup processes orders for more than a dozen airlines and hotels, and thanks to the open system set up by BlockApps, the company is saving more than $43 per ticket in distribution costs. Armstrong is looking to expand this open network to thousands of travel-based companies this year.
Blockskye is only one example. Since its creation, BlockApps has won contracts with some of the biggest names in the industry such as RedHat and Google. The company has managed to rope in such clients because it’s platform is not token-based and it is open to offering its clients software services that go beyond just Blockchain solutions.
Ties with ConsenSys
Joseph Lubin owns most of BlockApps equity in the way he does other startups spun off from ConsenSys. While this may have attracted some criticism from some, it hasn’t stopped the companies from continued expansion.
James-Lubin, who is Lubin’s son, considers BlockApps to be completely independent of ConsenSys, even while having close ties with its parent company.
He states that his team connects with its parent company at least once a week and they also share clients. Besides this, ConsenSys executives are a part of BlockApps’ board and they advise them when they need help.
BlockApps’ CEO stated that the company is no longer a part of ConsenSys, rather, it now has a business partnership where the two companies collaborate on contracted projects.