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Venzee Technologies Inc. has entered into a partnership with BTL Group Ltd. that will bring together the company's data transformation solution, Mesh, with BTL's blockchain development platform, Interbit.
Using artificial intelligence, Mesh is able to import, merge and transform data from existing systems before writing to blockchain networks, greatly simplifying the process of integrating blockchain networks with conventional databases.
Kate Hiscox, president of Venzee Technologies, commented: "Since announcing Mesh, we have had interest from enterprise customers, including major retail and globally recognized banks who are looking to deploy blockchain as part of their data strategy. BTL offers a world-class permissioned blockchain solution that, combined with Mesh, means we can provide an end-to-end solution that helps companies achieve their blockchain goals more efficiently."
Interbit is a blockchain development platform. Designed to be developer friendly using today's most popular and proven tools and languages, developers are empowered to build enterprise-grade blockchain based applications without having to learn new tools or languages.
"We are very excited about our partnership with Venzee, especially as we believe it will result in a number of client projects originating from Mesh and BTL. The projects we see often include multiple data sources from the same or different companies. This is where Mesh helps connect the dots by merging and transforming data before it's written directly to Interbit or any applications on the platform," stated Dominic McCann, chief executive officer of BTL.
Increasing adoption of blockchain-as-a-service, rising cryptocurrency market caps and initial coin offerings are simplifying business processes. This immutability and newly created transparency are expected to propel the growth of the blockchain market to $7,683-million (U.S.) by 2022.
Venzee and BTL have entered into a letter of intent in respect of their partnership, the terms of which will be set out in a definitive agreement.