Stanford Backs Blockchain Firm Referred as ‘the Microsoft for Blockchain’

Alchemy, a blockchain infrastructure company, has raised funding from several well-known major institutions, including Stanford University, and also head of well-known companies.

Specifically, Alchemy has garnered $15 million in funding from authoritative businessmen such as LinkedIn’s co-founder Reid Hoffman and Yahoo’s co-founder Jerry Yang and.

Bloomberg has also pointed out that popular financial service provider Charles Schwab is also acquiring a stake in Alchemy by taking part in Series A funding. Alchemy is one among several firms interested in entering blockchain field such as Oracle and Amazon Web Services (AWS).

Nikil Viswanathan and Joe Lau, Stanford alumni, and Alchemy’s co-founders believe that their blockchain endeavor will be adopted by the industry. While speaking to Bloomberg, Viswanathan said “We want to be the Microsoft for blockchain.”

Lau compared the absence of computer use a few decades back with that of blockchain technology. Lau said “In the ’70s and ’80s only researchers used computers and today everyone uses a computer.”

Months before, there were reports of distinct congregation of Stanford alumini who developed a crypto network utilizing mobile phones.

The network had enrolled over 500,000 participants by the end of September 17.