Blockchain technology solution provider Bloq has announced its acquisition of Skry, a pioneer in blockchain analytics, to enhance its suite of analysis tools and assist the firm in maximizing the value of blockchain data sets through artificial intelligence and machine learning. Bloq focusses on building and scaling blockchain networks for large global companies. The transaction, which closed on February 24th, is Bloq’s first acquisition and includes all of Skry’s intellectual property and team.

Jeff Garzik, CEO and Co-founder of Bloq, explained: “Blockchain networks need more than a rudimentary finder or explorer. 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, 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.

Chairman and Co-founder of Bloq, Matthew Roszak commented: “Blockchain networks will create the greatest data sets we’ve ever seen. Leveraging machine learning techniques will enable faster and enhanced decision making, while uncovering insights and massive opportunities along the way.”

Fabio Federici, former CEO and Co-founder of Skry, remarked: “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.”

The acquisition comes a few 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.