Jeff Garzik Starts Bloq, a Blockchain Tech Company

Jeff Garzik, one of Bitcoins core developers, has announced that he is starting a new business, named Bloq, that will help companies incorporate blockchain technologies into their systems.

The startup is being funded with a relatively modest 250,000 dollars from cofounder Matt Roszaks Tally Capital, but already has five companies, including Circle, KnCMiner, and others, and may soon acquire FoxConn, the company that assembles iPhones in China.

Bloomberg states in its report about this venture that many companies have pivoted from Bitcoin to blockchain in the light of Bitcoins continuing volatility and possibly in light of the internal struggles that have been occurring in Bitcoin over the last few months.

Its been well-documented that as financial and other institutions gain an interest in the advantages that Bitcoins technology can bring them, the trustless, open nature of Bitcoin naturally keeps CEOs and CTOs from wanting to buy into the original. The fact that Bitcoin in many ways is designed to invalidate many of their business models is also certainly not lost on them. It is no wonder that in the halls of the big banks, blockchain is the toast of the party, but Bitcoin is the unwanted stepchild.

Garziks startup mostly consists of companies that already have Bitcoin at the heart of their business model, and his heavy, continuing involvement in and support of Bitcoin suggests that there will not be a complete separation.

We wish luck to Bloq and encourage Garzik to keep on the one, the true, Bitcoin blockchain.