Blockchain middleware startup Bluzelle Networks Inc. today announced it has raised $1.5 million in an early-stage funding to develop the company’s distributed ledger storage platform.
Bluzelle builds middleware applications for the enterprise using blockchain networks and tools that make use of cryptographic distributed ledgers in order to protect a record of historical transactions. With this technology, the company has planned out applications and tools to support financial institutions, payment networks and insurance providers.
“The blockchain is a protocol, just like the internet is a communication protocol,” Pavel Bains, co-founder and chief executive officer of Bluzelle, told Tech in Asia. Bains explained that the company’s platform extends blockchains by providing additional application layers, similar to what Oracle Corp. does by building on top of the Windows operating system.