Bloq that provides blockchain technology solutions for enterprises, announced that it has acquired distributed ledger analytics platform Skry, in a move to develop its suite of analysis tools as well as position the company to increase the value of blockchain data sets with the help of AI and machine learning.
The transaction was closed on February 24, 2017, and marked as Bloq’s first acquisition that includes all of Skry’s intellectual property and team.
“Blockchain networks will create the greatest data sets we’ve ever seen,” Matthew Roszak, Chairman, and Co-founder of Bloq, said. “Leveraging machine learning techniques will enable faster and enhanced decision making while uncovering insights and massive opportunities along the way.”
Although the terms of the acquisition were not disclosed, it follows after Block co-launched a platform ‘Vulcan Digital Asset Services’ to enable the use of digital assets for commerce, banking and digital asset services along with PricewaterhouseCoopers (PwC), Australia.
With the Skry blockchain analytics platform, users can be able to detect anomalies like DDoS attack, fluctuation in transaction fees, among others in both private and public blockchains. Also, Skry allows clients to manage, visualize and analyze blockchain data from disparate sources.
“Bloq is one of the few blockchain software companies with a comprehensive vision for what enterprise customers need to launch and manage blockchain networks and applications. Its team stressed interoperability and painstakingly engineered its technology from day one to be blockchain-agnostic. I’m excited to have Skry be a part of that future,” Fabio Federici, former CEO and Co-founder of Skry, mentioned.
