Bloq has acquired Skry, a specialist in blockchain analytics, to enhance its suite of analysis tools and position the firm to maximise the value of blockchain data sets through artificial intelligence and machine learning.
Bloq is an enterprise software company focused on building and scaling blockchain networks for global companies.
The transaction, which closed on 24 February, is Bloq’s first acquisition and includes all of Skry’s intellectual property and team.
“Blockchain networks need more than a rudimentary finder or explorer,” says 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.”
Skry’s platform allows clients to manage, visualise and analyse 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,” says 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."
“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,” says Fabio Federici, former CEO and co-founder of Skry. “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.”
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.
The terms of the acquisition were not disclosed.
