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SPARKS, NEVADA, December 1, 2020 (GLOBE NEWSWIRE) – Blockchains Management, Inc., an affiliate of Blockchains, LLC (collectively, “Blockchains”), a blockchain software development company committed to protecting and empowering people, announced today its acquisition of Cambridge Blockchain, Inc., a blockchain-based identity management and compliance software solution provider.
Cambridge Blockchain solutions harness the potential of blockchain to deliver strong digital identities globally and meet increasingly stringent data confidentiality obligations. The company has experience in designing software to share identity data between systems, especially European financial institutions.
The Cambridge Blockchain acquisition further increases Blockchain’s ability to deliver an ecosystem of products intended to prepare people for web 3.0 and the emerging digital economy, with a blockchain-based digital identity solution at its core. The shared ethics of companies to give back control of personal data to users while offering the benefits of a trusted and distributed digital identity to consumers, organizations and government institutions has solidified the union.
“Cambridge Blockchain has unique and real experience in designing identity management systems and simplifying digital identity compliance across the government, ePrivacy, banking and fintech sectors,” said Executive Vice President Lee Weiss. “We are thrilled to bring on board a team that has demonstrated successful technology applications globally for businesses, governments and regulators in a way that ultimately benefits the individual.”
“Blockchains’ vision is truly aligned with our aspirations for Cambridge Blockchain right from the start,” said co-founder Matthew Commons. “The idea that people should be in control of their data has been one of our founding principles. We are excited to be part of the Blockchains organization that can implement a wide range of applications and integrations in Nevada and around the world.” .
With this transaction, Blockchains is acquiring an enterprise-grade distributed identity software stack, a robust IP portfolio that includes numerous issued patents, an experienced technical team and valuable business relationships. Company leaders Matthew Commons, Alex Oberhauser, Muthu Arumugam, and his software developers will join Blockchains’ digital identity team, with a full integration planned for early 2021. Additionally, Cambridge Blockchain will begin its transition to the Blockchains brand in the near future. months.
Cambridge Blockchain’s business framework is expected to further accelerate Blockchain’s efforts in building a blockchain ecosystem that meets the needs of biometrically secured credentials in government, future e-wallets, document provenance and other products that will change the way people interact in a digital world.
“When it comes to digital transformation, a strong and secure digital identity framework is key to any settlement system,” said Jeffrey Berns, founder of Blockchains. “I look forward to next year as Blockchains will deliver its digital identity solution and suite of products aimed at providing the most secure and user-friendly management for individuals’ digital interactions.”
Information on blockchains
Blockchain conceptualizes, develops and incubates blockchain-based ideas. The company owns more than 67,000 acres in northern Nevada that it plans to use as a real-world sandbox to showcase blockchain and other innovative technologies. Blockchains is committed to protecting and empowering people by developing applications and ecosystems that are intended to change the way people interact with technology, infrastructure and each other. Blockchain software solutions currently under development focus on preparing the world for the next stage of internet evolution, with an emphasis on digital identity management, digital asset management and blockchain connectivity for IoT devices. .
About Cambridge Blockchain
Cambridge Blockchain, founded in 2015, develops blockchain-based identity management and compliance software solutions for financial institutions. The company provides an identity management platform for multinational banks and financial institutions that puts control of personal identity data back in the hands of the end user.
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Elaina Duffy Blockchains 775-432-0000 [email protected]
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