Blockchain technology provider Bloq announced the launch of BloqLabs in a move to connect enterprises with the expansion of its ongoing sponsorship and support of critical open source projects in the blockchain ecosystem.

The company also revealed that it will be joining the Enterprise Ethereum Alliance (EEA), an alliance that connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum thought leaders and experts, Bitcoin Magazine reported.

Bloq has launched BloqLabs along with various other foundational platforms apart from its own technology. These projects are being supported and developed by Bloq and include Drivechains, Qtum, VeriBlock, bitcoinj, among others.

“BloqLabs can set the tone for the blockchain era and ensure enterprises are tapping into every innovation from our vibrant community of developers,” Jeff Garzik, CEO, and Co-founder of Bloq, stated.

One of the foundation project along with BloqLabs Drivechains, is a technology that allows a given blockchain system to temporarily mimic the properties of a rival that guarantees complete interoperability among all blockchain networks.

“The record is clear: open source is the way to go – it's better, faster, and more secure,” Paul Sztorc, an economist at Bloq and chief architect behind Drivechains, said. “I'm thrilled to have Bloq sponsor the project, few companies are this generous.”

Bloq has recently achieved several milestones including the acquisition of blockchain analytics pioneer Skry and co-launch of Vulcan Digital Asset Services, a platform to enable digital assets to be used for everyday banking, commerce, and asset related services, with PwC Australia.