Home Capital & Crypto Bitcoin Payment Processor BitPay Announces Partnership with Bloq

Bitcoin Payment Processor BitPay Announces Partnership with Bloq

Samburaj Das
Last Updated March 4, 2021 4:47 PM

Global bitcoin payment service provider BitPay has revealed a commercial partnership with blockchain technology provider Bloq, in an announcement.

The partnership will see Bloq provide enterprise-grade implementation and support services for companies using BitPay’s open-source full node and development platform, Bitcore.

Bloq will also begin offering Bitcore in its BloqEnterprise product offering, which will enable companies get all the functionality of Bitcoin and a full Bitcoin node, in addition to “native utilities and intuitive Node.js libraries” to help extend Bitcoin’s functionality.

Furthermore, services and companies that use Bitcore can also make direct function calls to the bitcoin blockchain, a press release revealed. Bitcore’s product also enables companies to create new blockchain-based services such as creating digital assets and tokens as well as authenticating and timestamping digital contracts trustlessly.

One of the prominent applications for Bitcore is its Wallet Service, which is explained as:

[T]he Bitcore Wallet Service  (BWS), which allows bitcoin wallets to query the Bitcoin blockchain at speeds up to 20 times faster than json-RPC API calls. BWS is an enterprise wallet platform that we built for scalability.

Founded by former Bitcoin Core developer Jeff Garzik, Bloq  earlier this year to focus on open source development and decentralization as solutions for enterprises. The company’s board of advisors include Nick Szabo, Andrew Filipowski and Gavin Anderson.

Having raised $250,000 from co-founder Matt Roszak’s Tally Capital, Bloq has since established a few partnerships in a short span of time.

The startup is working with services giant PrivewaterhosueCoopers (PwC) who are known to have a keen interest in blockchain technology themselves. It has also established a partnership with Foxconn, the technology group that assembles iPhones and other electronics. Bloq has also established partnerships with Microsoft’s BaaS (blockchain as a service) offering through its Azure cloud platform.

BItPay is also among the partners that have signed up for Microsoft’s Azure BaaS endeavor.

 Featured image from Shutterstock.