UK blockchain startup Stratis has raised $600,000 USD in investment via a Bitcoin crowdfund, despite fears that investment in the city is failing. Stratis will use the funds to build the first blockchain development platform that ‘businesses can actually use’.
Blockchain is a tamper-resistant system for storing and updating information of almost any kind. It has huge potential to bring competitive advantage to a wide range of organisations from financial services to retail and government, but it is costly to implement, putting it out of the reach of many.
The Stratis platform will offer an off-the-peg solution for the creation and management of blockchains in minutes. This will be achieved by means of a cloud-based, blockchain-as-a-service that bypasses the need for businesses to build costly in-house implementations. By simplifying and speeding up the process for organisations, Stratis intends to widen access to this important technology.
"We looked at what the barriers were for businesses and then looked at how we could address those. Primarily the key factors are cost followed by security concerns and lack of developers all of which we set out to tackle through Stratis"
Chris Trew, Founder, Stratis
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Uniquely, Stratis are building a Bitcoin full node framework in C# .NET on which to base their service. A full node built from the trusted and proven architecture of Bitcoin will create a secure foundation, something that has been missing in private chain projects to date. The cloud service will run in parallel to this, allowing users to customise their own private chains which will then be secured on the Stratis ‘parent’ chain. Tokens can then be moved between the parent chain and child chains via a two-way peg solution.
Stratis’s full node framework in C# will be the first of its kind and should prove beneficial for the whole industry. C# is a more popular programming language for business applications than Bitcoin’s existing C++ framework and has the potential to more than double the number of developers working on blockchain projects* and the framework will be open source for all to utilize. Stratis are pleased to have the expertise of Bitcoin core developer Nicolas Dorier on the team to lead the full node development.
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