German engineering giant Siemens invests in blockchain startup

Crazy Commentary : German engineering giant Siemens has also begun to pay attention to blockchain technology, and has invested $1.1 billion to establish a new business unit (next47) to invest in blockchain startups and projects, focusing on blockchain applications for industry and energy trading data transmission, making data transmission more convenient and secure. At the same time, it has opened offices in China, Germany and the United States. Blockchain technology has not only attracted widespread attention from large companies, but its impact is also global. Blockchain is ready to go and is unstoppable!

Translation: Nicole

Siemens invests in blockchain startup

German engineering giant Siemens plans to invest in blockchain startups and projects through a newly formed business unit backed by $1.1 billion.

The company announced the funding today, which will be used over five years to invest in areas related to artificial intelligence and next-generation small aircraft propulsion systems, as well as “decentralized electronics.”

Siemens said in a statement:

“The new department said it will focus on blockchain applications for data transmission in industry and energy transactions, for example, making data transmission more convenient and secure.”

The new division is called “next47” and will open offices in China, Germany and the United States.