IBM, Comcast Support Blockchain Accelerator

January 8, 2018

IBM, Comcast Support Blockchain Accelerator

Technological giant IBM and the investment arm of media conglomerate Comcast will support the MState investment fund, which in turn supports blockchain startups aimed at helping major enterprises to use blockchain.

The goal of the MState startup accelerator is to invest in blockchain startups and to establish a connection between them and Fortune 500 companies, co-founder Rob Bailey said.

MState plans to invest between $25,000 to $50,000 in 5 or 6 companies in the next 6 months, he added.

"There's a massive opportunity in Fortune 500 companies. They don't know which companies to work with," Bailey said.

Under the agreement between companies, Comcast will provide funding for MState while IBM will provide technology services.

Janine Grasso, vice president for blockchain strategy and ecosystem development at IBM said that the company is also ready to help those projects that will not receive support from MState.

Rob Bailey stated in a press-release:

"In 2018, we will see a growing number of enterprise blockchain use cases go mainstream from healthcare applications to government, supply chain and retail to the real estate and transportation industries."

It is worth to mention that neither IBM nor Comcast are unfamiliar with blockchain technology. IBM is actively involved in blockchain development and is considered the market leader while Comcast will use the technology to collect and analyze data from its users.


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