Syscoin creator introduces blockchain foundry, plans to launch block market

The creators of Syscoin, a cryptocurrency that replicates Bitcoin’s zero-cost financial network and offers innovative built-in services such as encrypted communications, have announced the formation of Blockchain Foundry, a company dedicated to developing a variety of different merchant-centric platforms.

Over the past few years, developers at Blockchain Foundry have continued to deliver blockchain solutions to an international user base, developer client base, and enterprises. Most notably, Syscoin’s powerful infrastructure and developer-friendly features have been widely adopted by enterprises and startups around the world, leading to the creation of decentralized markets and platforms for the secure transfer of assets and commodities.

The Blockchain Foundry development team will soon launch Blockmarket, the world's first blockchain-based e-commerce platform, using Syscoin's well-established infrastructure and blockchain network.

Through a partnership with Microsoft Azure, Blockchain Marketplace’s public offering will be immediately available on Azure’s marketplace, introducing Syscoin’s blockchain-based e-commerce platform to a wider range of users and customers.

Interestingly, the developers at Blockchain Foundry have agreed to maintain BlockMarket as a browser-based e-commerce platform that mainstream users will not face any barriers to access. Currently, decentralized marketplaces on the market, such as OpenBazaar, are client-based, which requires users to download a client to access the network. Although, OB1, the company behind OpenBazaar, has hinted that they plan to launch a browser-based version of the platform, BlockMarket will be the first platform to offer such a service in 2016.

“We are pleased to announce the launch of Blockchain Foundry and we will make every effort to complete the Blockchain Marketplace platform as soon as possible,” said Dan Wasyluk, Chairman and CEO of Blockchain Foundry. “In parallel with product development, we are adding more talent to the team and raising more funds to enhance R&D resources to accelerate our goal of becoming a leading blockchain service company.”

As a leading global blockchain company, the development team at Blockchain Foundry aims to develop a low-cost, robust, and privacy-preserving platform. Over time, the company hopes to evolve into a leading company in the city’s fintech industry, providing blockchain services to international clients and businesses.

By continuing to develop Syscoin-related services, the company said it will maximize the potential of Syscoin and blockchain technology. The company will follow up with regular updates and improvements, consistently optimizing its products to target many different markets and multi-billion dollar industries.

“Through three years of development in the technology space, our team has proven our expertise in blockchain. We are able to keep up with the pace of these changes, with the release of the latest Syscoin 2.0 reference client in May 2016 being the best example,” Wasyluk said.

In the official press release, Wasyluk further emphasized the potential of blockchain technology and the company’s interest in using it for many different use cases.

“We are working with Microsoft to obtain product certification on the Azure Marketplace so that Blockchain Foundry’s first batch of Bitcoin derivative products can be certified on Microsoft Azure. We look forward to continuing to develop the potential of blockchain through Blockchain Foundry and will provide regular updates on our progress in the coming months,” he added.

With its partnerships with Microsoft and Supernet, and integrations with Bitcoin, Lisk, Syscoin and Ethereum, Blockchain Foundry will become a key player in the blockchain and fintech market, with Blockchain Marketplace set to launch by the end of 2016.