RSK announces enterprise spin-off to focus on blockchain integration tools

Published at: Sept. 30, 2020

A new enterprise initiative launched by IOVLabs, the company behind the RSK Bitcoin sidechain, seeks to simplify blockchain development for governments and enterprises.

The joint venture, called Extrimian, was established with Argentinian software provider Grupo Sabra to create the RSK Enterprise Cloud platform.

The blockchain-as-a-service platform is designed to allow governments and businesses to develop decentralized solutions and set up permissioned networks with ease. The platform is said to help integrate blockchain DApps into existing infrastructure used by enterprise and government entities.

Guillermo Villanueva, the CEO of Extrimian and co-founder of Grupo Sabra, told Cointelegraph that the focus of the initiative differs from existing offerings:

“There are many Blockchain-as-a-Service offers, but they focus on solving the problem of deploying permissioned networks. Our vision is that the key problem to solve is the connection and integration of the systems that the Enterprise already has to these new technologies.”

Villanueva believes that existing companies have a narrow focus on their niche — cloud providers focused on cloud-based solutions, while blockchain companies focus solely on the blockchain stack. He continued:

“After many years of dealing with the complexity of developing real world applications for the Enterprise segment using the blockchain technological stack, we realized that there was a missing piece, something that facilitates the development and operation of decentralized apps, that easily integrate to the rest of the technology that enterprises and governments already have.”

Villanueva clarified that Extrimian is not seeking to create a separate blockchain platform. Its users would be able to choose between a few existing enterprise blockchains, including RSK, Ethereum and Hyperledger Besu. The toolset will be usable on cloud platforms like Microsoft’s Azure and Amazon Web Services, with more integrations expected later.

Due to the nature of the software, Villanueva explained that its focus is not on convincing companies to make the initial foray in blockchain. “Our platform is intended for big, medium and small enterprises and governments who have a problem, have researched possible solutions and have selected blockchain as a platform for their solution,” he said.

The idea for the platform was apparently driven by RSK’s own experience in designing enterprise applications. The project participated in several pilot projects, including a blockchain-based payments service for Argentinian banks and an energy trading initiative.

“The Argentinean Central Bank pilot was one of multiple implementations we’ve delivered that gave us a clear understanding of the real requirements of the enterprise segment,” Villanueva explained.

In addition to enterprise, RSK is currently pushing for decentralized finance use cases on its smart contract blockchain with integrations of Chainlink oracles and an Ethereum bridge.

Tags
Technology
Blockchain
Enterprise
Rootstock
Related Posts
12 of the biggest enterprise blockchain players of 2020
Enterprise blockchain started gaining traction in 2017 shortly after Bitcoin had reached its all-time high of nearly $20,000. Since then, enterprise blockchain has mainly been defined by private blockchain networks used by businesses for things such as supply chain management. The enterprise blockchain space has changed quite a bit since 2017. For instance, 2020 has brought in a number of enterprise blockchain use cases that leverage public networks rather than private ones. The COVID-19 pandemic has also driven many companies, both large and small, to use blockchain for guaranteeing proof-of-health or to revive tourism. Finally, some blockchain companies this year …
Technology / Dec. 28, 2020
For whom the benefits toll: Enterprise blockchain is the evolution of economic architectures
In my two-decade career at Microsoft, leading .NET platform architecture, visual studio .NET development, application platform, enterprise strategy and Microsoft Digital, I have been part of building technologies for multiple waves of platforms: the early web, service-oriented architectures, the so-called Web 2.0, and more recently, the Cloud. While there is no doubt that previous waves of platform technologies have delivered substantial benefits, their impact has been limited because they are “passive” stacks that serve as plumbing for applications and infrastructure. For the most part, with previous waves of platforms, cost savings have been the primary and sometimes singular quantifiable element …
Technology / Dec. 19, 2020
Breaking free from global liquidity silos: New technology changes the game
Economists, pundits, institutions and investors often talk about the global financial system. When stocks go up and trade thrives, they applaud its contributions to prosperity; when the markets crash and stocks dip, they blame its inhuman scale or its untrustworthy manipulators. But anyone who has attempted to diversify their portfolio with foreign stocks or acquire another nation’s bonds quickly comes to the same conclusion: The global financial system isn’t a single entity. “The system,” singular, is really “The systems,” plural. How do the pieces of the global financial system interact? Not always as well as might be hoped, as exemplified …
Decentralization / Sept. 13, 2020
Wear-to-earn NFTs target the billion-dollar fashion industry
The rise of the Metaverse and Web 3.0 are set to disrupt multiple sectors including the billion-dollar global fashion industry. As the world moves from physical to digital, traditional fashion design can transform into virtual wearables that can be leveraged in both augmented reality (AR) and in real life. Megan Kaspar, managing director at Magnetic Capital and member of Red DAO — a fashion-focused decentralized autonomous organization — told Cointelegraph she believes that digital fashion nonfungible tokens, or NFTs, will be the largest NFT category of Web 3.0: “Digital fashion NFTs include clothing, shoes, jewelry, accessories and more that can …
Adoption / Dec. 1, 2021
Genomics company explores NFTs in hopes of advancing precision medicine
It’s predicted that nonfungible tokens (NFTs) will have a vast impact on society. Given this, it shouldn’t come as a surprise that the trillion-dollar healthcare sector has begun to explore NFTs tokens to advance medicine. It’s also important to point out that blockchain technology can play an increasingly important role within the healthcare sector. This was recently highlighted in a report from the European Union Blockchain Observatory, which specifically documents how blockchain applications can solve challenges facing the healthcare industry. For example, the paper notes that patient engagement and transparency of how data is stored, along with the effective distribution …
Decentralization / May 23, 2022