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Digital Assets Holdings (DAH) recently acquired two emerging blockchain-based companies — Hyperledger and Bits of Proof — in an attempt to improvise on the existing distributed ledger technology.
The New York based startup, led by renowned Wall Street veteran Blythe Masters, was launched three months back with an aim to inject Bitcoin’s underlying technology, the blockchain, within the existing Wall Street infrastructure. As it pursued, the company came to know of certain challenges they would be needing to address first; a particular one would be adding support to making blockchain capable in handling more than just seven transactions per second.
The acquisition of Hyperledger therefore begins to make sense. The San Francisco-based startup is skilled at making private blockchains for financial institutions that, being untied to any kind of digital currency, can conduct thousands of transactions per second. Their integration into DAH would certainly enable the firm to address its potential clientele — companies that issue syndicated loans, private and public stocks, derivatives, and bonds.
DAH has also appointed Hyperledger’s founder and CEO Dan O’Prey as their firm’s chief marketing officer. CTO Daniel Feichtinger meanwhile will take over the positions of DAH’s senior software designer.
On the other hand, Bits of Proof is a Budapest-based company, skilled at integrating blockchain technology into the financial applications. The company’s CEO and founder Tama Bummer has been given the role of DAH’s chief ledger architect.
Masters, in her press statement, acknowledged their new partners for possessing the skills “to help clients harness the power of distributed ledgers to serve their own customers.”
“We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain,” she added. “Different ledger technologies serve different purposes and all of those we integrate with are additive.”
DAH didn’t disclose any financial information related to the said accessions.
