Ethereum-backed ConsenSys acquires team and technology from Fluidity

  • The company backed by Ethereum, ConsenSys, announced the acquisition of the team and technology of Fluidity, developer of the AirSwap trading network. 
  • The total amount of the purchase remains undisclosed. 

In a press release, Ethereum-backed ConsenSys announced the acquisition of Fluidity’s team and technology. According to the release, Fluidity is a blockchain company that was already a joint venture with ConsenSys. Fluidity is headquartered in Brooklyn, United States.

A lead developer of the AirSwap peer-to-peer trading network, Fluidity has produced significant innovations in real-estate tokenization, tokenized securities trading, systems to pledge real collateral to decentralized credit platforms. Their integration with ConsenSys will allow them to further develop the AirSwap trading network, according to the roadmap completed by the team. Fluidity will also be powered by ConsenSys’ blockchain operating system, Codefi.

Fluidity will migrate to ConsenSys

The terms of the acquisition or the total amount of the purchase were not disclosed. However, ConsenSys did publish that Fluidity’s products will need to be migrated to ConsenSys. In addition, it is expected that with the integration into Consensys, the Fluidity team will be able to grow the AirSwap network and introduce new token mechanisms. Consensys founder Josep Lubin says:

Bringing Fluidity fully into ConsenSys will unlock powerful synergies that we have identified over the past few months. The team has built best in class token trading technology for different niches that ConsenSys can now help bring forth at scale. We are excited to reinvigorate the longstanding close relationship.

The release states that the acquisition of Fluidity is a sign that the company is prepared to strengthen its core products to bring new innovations built on the Ethereum blockchain. In that regard, Fluidity CEO Michael Oved said the following:

The future is bright for decentralized trading, blockchain technology, and upgrading legacy financial infrastructure. Together with ConsenSys, the power of our systems can be fully realized.

As reported by Crypto News Flash, Consensys is one of the blockchain companies that presented a tracking protocol to help fight the coronavirus (Covid-19). Developed with technology giant Microsoft, the protocol uses the Ethereum network in an application that allows a user’s smartphone to share information with other phones nearby. This way, it determines where the user has been and warns if an infected person in the vicinity is present.

The information is shared anonymously through the use of zkSnarks. Like other blockchain-based projects to track Covid-19, such as the TrackCovidCluster presented by the IOTA community, emphasis has been placed on protecting the users’ privacy.

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