Blockchain Intelligence Group (BIG), a Canada-based developer of blockchain technology solutions, has announced that it has entered into non-binding Memorandum of Understanding with RSK Labs with the intent to collaborate with RSK Labs. 

This memorandum of understanding allows BIG to start adapting its block explorer, "blockbits" to work with the RSK Labs smart contract and micro payments network.

"We feel this relationship with RSK Labs will help to diversify our product offering and help bring a more robust capability to our services. RSK Labs has the foresight to embrace the bitcoin network with their smart contract service and we only want to align ourselves with companies of this talent and expertise”, Shone Anstey, President of BIG said in a statement.

Founded in 2015, RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK Labs Ltd is the company behind the smart contracts platform Rootstock and aims to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability.

RSK Labs also has identified interest in using BIG's Global network for RSK Labs nodes, which will allow it to increase network support for RSK Labs transactions. BIG would also look to provide client services to both its and RSK Lab's clients through its wholly owned services division, 2140 Software Solutions Inc.

Lance Morginn, CEO further stated that, "smart contacts are essentially “programmable money” or self-automated computer programs that can carry out the terms of any contract and we want to be the leader for providing search and analytics for this space."

Earlier this year, RSK Labs announced that it raised $1 million in a round led by Bitmain Technology, the world’s largest bitcoin hardware mining producer, Coinsilium, a leading blockchain investment firm based in London and Digital Currency Group, the prolific investor from New York.