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July 22, 2021,

New Rockaway and Ackee joint project to focus on blockchain security

New Rockaway and Ackee joint project to focus on blockchain security

Ackee Blockchain is a new company that wants to make Prague a key global player in the field of blockchain. This ambition is supported by the Ackee development agency and the largest VC investment fund in Europe focusing on digital assets, the Rockaway Blockchain Fund, which aside from exclusive contacts is also providing the company an initial investment of CZK 14 million, giving it an initial valuation of CZK 35 million.

The largest VC investment fund in Europe focusing on digital assets, the Rockaway Blockchain Fund, and the Ackee development agency are joining forces in a joint venture called Ackee Blockchain, which will primarily focus on developing software for the dynamically growing blockchain world. Experts in this technology, who can depend on Ackee’s nine years of software development experience, will primarily focus on development and security audits of smart contracts. Aside from evaluating code as well as security risks and decentralized applications, thanks to the joint venture with Ackee developers will take care of the entire blockchain ecosystem, from development to maintenance.

“At Ackee we’ve been working on blockchain as one of several technologies, and thanks to the joint venture with the Rockaway Blockchain Fund, we will now devote ourselves to it to the maximum,” says Ackee co-founder and the new CEO of Ackee Blockchain, Josef Gattermayer. In the past his team, which specializes in creating development tools for blockchain applications, received several grants from leading foundations focusing on the development of cryptocurrencies: Ethereum FoundationTezos Foundation.

As equal partners, Ackee and the Rockaway Blockchain Fund will combine their technological acumen with valuable contacts to meet the growing demand for expert services in the area of blockchain. Ackee will provide the company an experienced development team, and Rockaway Blockchain Fund international contacts and an initial investment of CZK 14 million, giving the new company a valuation of CZK 35 million. Ten percent of shares will remain reserved for employees as part of an option programme.

“Just in the past year, hackers stole roughly USD 500 million from applications on the blockchain, with about a fifth of this consisting of DeFi (decentralized finance). Given that blockchain is bringing innovative financial services and the number of hacks is continually increasing, the security of blockchain applications is critical. Thanks to its existing expertise and access to universities, Ackee Blockchain has a unique opportunity to become the global leader among developers of security applications, not only on Ethereum, but also on other blockchains in the RBF portfolio such as Solana, Terra, or Agoric,” says Viktor Fischer, the founder and head of the Rockaway Blockchain Fund.

Ackee’s co-founder and CEO Martin Půlpitel adds that nothing is changing for Ackee as a development agency: “Ackee is a leader in the development of demanding applications, and we will continue to work in this area. But of course we’re looking around for other challenges. Thanks to our new subsidiary and joint venture with the Rockaway Blockchain Fund, we’ll have access to the best clients in the world.”

However, starting a joint venture with the Rockaway Blockchain Fund is not Ackee’s only blockchain-related activity. Together with its new partner, it has started a new project that intends to bring additional talented developers to the world of blockchain, thus participating in its technical development. “In order to support the development of the Czech blockchain community, we are launching the Summer School of Solidity. Here, developers can learn for free to develop smart contracts, obtain a certificate, and perhaps also apply their new experience in the blockchain team,” adds Gattermayer, who is coming to his new position from that of the director of the German branch, Ackee GmbH.

Registration for the Summer School of Solidity is available at ackeeblockchain.com. Viktor Fischer has high expectations of the project, and believes that it will allow the Czech Republic and Slovakia to build on a strong development tradition. “We want to build expertise in the Czech Republic in the area of smart contracts. Many IT engineers graduate here every year, but there is no blockchain expertise here, not even at universities, as is the case at Stanfor or Berkley in Silicon Valley, for example. On the other hand, the Czech Republic and Slovakia have an impressive tradition in the area of computer security, which has roots dating back almost 30 years at companies like Avast or Eset. That’s something we’d like to build on,” adds Fischer.