By
Mayowa Adebajo
March 12th, 2024
The acquisition is likely to enhance Bloq’s suite of analysis tools and maximize the value of blockchain data sets through artificial intelligence and machine learning.
Bloq, a leading enterprise software company focused on building and scaling blockchain networks for leading global companies, informs about its acquisition of Skry. The transaction was closed on February 24. Remarkably, it is Bloq’s first acquisition and includes all of Skry’s intellectual property and team.
Skry is a pioneer in blockchain analytics with its end-to-end platform that enables enterprises to derive real-time business intelligence and risk assessment from Blockchains and decentralized applications. It allows customers to manage, visualize and analyze blockchain data from disparate sources. Thus, such anomalies as a DDoS attack, spike in transaction fees or certain block dynamics can be detected both on public and private blockchains.
“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.”
Bloq’s team consists of world-class blockchain developers, entrepreneurs and investors. Headquartered in Chicago, the company has offices in Atlanta, San Francisco and Washington, DC. Together with Skry, the team intends to enhance its suite of analysis tools and increase the value of blockchain data sets through artificial intelligence and machine learning.
“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.”
“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,” said 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.”
A few months ago, Bloq launched a new fintech business platform called Vulcan Digital Asset Services in cooperation with PwC Australia, Libra, and Netki. The platform is to allow using digital assets for everyday banking, commerce and other personal currency and asset related services.
Vulcan will provide digital currency wallets, international payment processing, and investment and trading services. Bloq is planning the platform to start offering point-of-sale and merchant services soon.
Meanwhile, “Blockchain-inspired” startup R3 keeps on hitting back at criticism after publication of its post about Corda platform. The thing is that the company made a rather contradictory statement as if it had contributed millions of dollars on research into Blockchain technology it would never use. But R3 rebutted that it has always stated that Corda is a distributed ledger platform, not a traditional blockchain platform, and was never designed to be one.