Bloq Acquires Skry, Supercharges Blockchain Analytics With AI and Machine Learning | Bitcoin Magazine
|Photo: Giulio Prisco|
|Photo: Bitcoin Magazine|
With the acquisition, Bloq wants to enhance its suite of analysis tools and position itself to maximize the value of blockchain data sets through AI and machine learning.
The Chicago-based company focuses on solving key business issues surrounding security, provenance, authentication and reconciliation. The new acquisition, whose detailed terms haven’t been disclosed, includes Skry’s intellectual property and team, which seems a perfect fit for Bloq’s focus on empowering better visibility and decision-making in a multi-blockchain, multi-network world.
“Financial institutions will need a full suite of tools to take blockchain [technology]’s role from high-tech database to business-driver,” Bloq’s Co-Founder and Chairman Matthew Roszak explained to Bitcoin Magazine. “Skry’s technology adds a keystone layer of analytics to our current platform, and will open the door for enterprise blockchains to become as smart as they are efficient.”
Bloq’s portfolio includes high-profile projects, such as a partnership with Deloitte to build blockchain software solutions for leading companies worldwide; a partnership with PwC Australia to launch Vulcan Digital Asset Services, a new fintech business platform to accelerate the adoption of digital money and assets; and the “Blockchain Operating System” BloqEnterprise. The company is a member of the Hyperledger Project, a collaborative cross-industry effort to advance blockchain technology, led by the Linux Foundation, to whose Board of Directors Jeff Garzik, co-founder and CEO of Bloq, was appointed in November.
“Blockchain networks need more than a rudimentary finder or explorer,” said Garzik. “We’re ensuring that enterprises won’t have to ‘fly blind’ without a complete understanding of the performance, economics and irregularities of their underlying networks.”
“Blockchain networks will create the greatest data sets we’ve ever seen,” added Roszak. “Leveraging machine learning techniques will enable faster and enhanced decision making, while uncovering insights and massive opportunities along the way.”
Source: Bitcoin Magazine