Telefonica, one of Spain’s biggest and largest telecommunications companies (and the world’s), announced last week that it is throwing an open-house party for as many as eight thousand crypto and blockchain firms in its new blockchain garden.
To cater to such a gigantic crowd, the telecom giant joined forces with the local Association of Science and Technology Parks (APTE). Via the partnership, up to 8,000 local blockchain and crypto startups will have uninterrupted access to Telefonica’s blockchain network. The telecom giant is happy to leave its gate wide open for about three months. During this time, invited guests – the crypto startups – are expected to be creative and come up with their own applications of blockchain technology.
To open the party, the telecom giant is ready to deploy nodes of its hyperledger-based blockchain across APTE’s 52 sites. This will create a traffic-free environment for all 8,000 blockchain startups to work on. Telefonica urged the selected startups to make good use of the time on the network to experiment and create applications. Each startup will be allowed uninterrupted access to the network. They are free to push their creativity levels to the limit and come up with astounding results. No holds barred.
Commenting on the gigantic project, the CEO of Telefonica Spain, Maria Jesus Almazor, stated:
“Companies housed in these scientific and technological parks will be able to benefit from the advantages of Blockchain technology without having to face the inherent complexity of it, or have to dedicate resources to acquire the knowledge necessary to make the most of it.”
Partnering with IBM for Blockchain Development
This move is yet another positive move towards achieving the firm’s goals, and one of its current goals certainly appears to be focusing on scaling and leveraging the blockchain industry, and the firm has shown so far that it is ready to keep that dream alive.
Backtrack to November 2018, the telecom giant partnered with the blockchain behemoth IBM to apply blockchain technology in managing international call traffic. Well, it didn’t stop there.
Fast forward 5 months later, in April 2019 the telecom giant Telefonica, using its partnership with IBM, also made another move on the blockchain chessboard. This time bigger and better. Joining hands again with IBM, Telefonica was able to launch its Cloud Garden service to carter to crypto and blockchain startups. The essence of this cloud-based service is to help demystify blockchain for young startups and help them find their feet in the community without going under the knives.
This year, Telefonica is ready to make bigger moves by housing up to 8,000 blockchain startups on its Cloud Garden.
Commenting on the gigantic project, the CEO of Telefonica Spain, Maria Jesus Almazor, stated:
“Companies housed in these scientific and technological parks will be able to benefit from the advantages of Blockchain technology without having to face the inherent complexity of it, or have to dedicate resources to acquire the knowledge necessary to make the most of it.”
