Taal Distributed Information Technologies (TAAL.C) purchased, through its subsidiary Taal Technologies SEZC, WhatsOnChain Ltd today in an all-share deal, adding to Taal’s tech portfolio and pushing them towards their goal of being a leading provider of enterprise blockchain infrastructure services.
WhatsOnChain owns and has developed a Bitcoin SV blockchain explorer technology. Its founders created the first ever BSV block explorer to provide data in a way that maximizes the user experience.
“With the acquisition of WhatsOnChain, Taal can provide an incredibly innovative blockchain platform that enables users to capitalize on the opportunity of the BSV blockchain. Taal welcomes the WhatsOnChain team and users, commits to supporting WhatsOnChain’s technology leadership in the BSV market, and will soon unleash its capabilities in enterprise industries which, when coupled with Taal’s blockchain computing infrastructure and transaction processing, will unlock a world of possibilities,” said Jerry Chan, Taal chief executive officer.
A blockchain explorer is a browser for the BSV blockchain, relatively similar in functionality to Google Chrome for browsing the net. BSV users use blockchain explorers to track their transactions, and having an open-source explorer is what BSV transparent and immutable. It’s ultimately what keeps BSV’s trustless and scalable system to continue.
That’s what’s in store for BSV and its adherents, if they’re associated with Taal. The company themselves will be reaping the benefits of a new revenue stream, as they now will be charging people to use WhatsonChain’s open source software and server components to track their purchases on the blockchain. Taal is also hoping to add extra features, including customized tools and APIs, which they’ll put on sale in future updates to WhatsOnChain’s software.
The WhatsOnChain acquisition brings more than the technology. The team includes software engineering and development entrepreneurs Liam Missin, who brings over 15 years of software engineering and corporate experience at SAP and nChain to the table. Also, there’s Muhammad Wagas Raza, who brings 10 years of software development experience and a master’s degree in advanced software engineering from the University of Leicester.
“Our team is excited to be joining Taal in our current capacities and we look forward to contributing to the growth and transformation of the blockchain industry,” said Simon Ordish, co-founder of WhatsOnChain.
Taal bought WhatsOnChain for two million pounds sterling paid through 1,739,882 of Taal’s shares, with a share value of $1.97.
In other news
Taal has moved into the crypto-valley in Zug, Switzerland.
Switzerland is known for its cryptocurrency friendly banking regulation, and Zug specifically has earned a reputation as one of the fastest growing tech hubs in Europe. It’s proven to be a migration hub for fintech, blockchain and distributed ledger technology companies, and was the first state authority in the world to accept blockchain as an official means of payment back in the halcyon days of 2016. Also, higher education and post-doctoral level research on blockchain is offered at nearby universities, thus luring in world class talent.
“The opening of our Zug office represents a strategic move to expand Taal’s operations in Switzerland, a region that offers enormous potential for the growth and development of blockchain businesses. Our new hires will allow us to further strengthen our business capabilities in this region, and execute on our strategic vision globally,” said Chan.
Taal intends on hiring more people at the Zug office and to have the office completely staffed and operational by the end of Q1 2021.