Enterprise-grade blockchain solutions provider Bloq has acquired Skry, a pioneer in blockchain analytics. Bloq says that the deal was done to enhance its suite of analysis tools and position the firm to maximize the value of blockchain data sets through artificial intelligence and machine learning.
The transaction, which closed on February 24, is Bloq’s first acquisition and includes all of Skry’s intellectual property and team. The terms of the acquisition were not disclosed.
“Blockchain networks need more than a rudimentary finder or explorer,” said Jeff Garzik, CEO and co-founder of Bloq. “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.”
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Skry’s platform allows clients to manage, visualize and analyze blockchain data from disparate sources. It allows users to detect anomalies – such as a DDoS attack, spike in transaction fees or certain block dynamics – both on public and private blockchains.
“Blockchain networks will create the greatest data sets we’ve ever seen,” said Matthew Roszak, Chairman and co-founder of Bloq. “Leveraging machine learning techniques will enable faster and enhanced decision making, while uncovering insights and massive opportunities along the way.”
The acquisition comes just months after Bloq co-launched Vulcan Digital Asset Services, a platform to enable digital assets to be used for banking, commerce and asset related services, with PwC Australia.