Coinalytics changes its name to Skry and hires IBM experts to research blockchain technology

Crazy Review : In order to expand its Bitcoin blockchain business, blockchain forensics company Coinalytics announced that it has changed its name to Skry, trying to merge blockchain technology, big data and artificial intelligence into one product. Skry fills the gap in the rapidly growing database through machine learning tools and business use cases, and makes the data public and transparent after rigorous inspection. In order for the product to be applied to any blockchain technology, we need expertise to develop Bitcoin analysis applications and Bitcoin analysis platforms, so we hired two experts in this field, one is Akash Singh, former IBM chief researcher, and the other is Dr. Masoud Nikravesh, former director of computing science and engineering at the California Information Technology Research Center.

Translation: Nicole

Blockchain forensics firm Coinalytics today announced it has rebranded to Skry, unveiled a new logo, and hired two new employees as it looks to expand its bitcoin blockchain business.

In an interview with CoinDesk, Skry co-founder and CEO Fabio Federici said the company is working to merge blockchain technology, big data and artificial intelligence into one product.

Federici said:

“As the company wants to expand its bitcoin business, it is important to send a clear message. In order for the product to be applicable to any blockchain technology, we need expertise to develop a bitcoin analytics application and a bitcoin analytics platform.”

Akash Singh, a former IBM principal researcher who worked on IBM Watson computing systems for more than a decade, has been named Chief Technology Officer of Skry, the company announced today. Dr. Singh will help Coinalytics with ‘productionization’ to ensure that large banks and law enforcement agencies interested in the service can use a platform that is not tied to a specific blockchain.

Services for large companies include product analysis.

Singh, who was previously chief technology officer for data science at Huawei in Shenzhen, China, will develop services that allow customers to securely analyze internal data, such as user accounts and location information, without going through any third party.

Another Skry hire is Dr. Masoud Nikravesh, who is Skry’s chief data scientist. Nikravesh is an artificial intelligence researcher and former director of computing science and engineering at the California Institute of Information Technology.

The statement said that Nikravesh has 25 years of experience in the field of credit risk assessment, risk analysis and predictive modeling. He also worked in anti-fraud services to detect anomalies.

Nikravesh said in the statement:

“Skry is at the forefront of applying machine learning capabilities and artificial intelligence to turn blockchain into actionable insights, which has important implications for blockchain technology as it moves beyond Bitcoin.”

New Path

Palo Alto-based Skry was founded in April 2014 and raised $1.3 million from 500 Startups to build its bitcoin analytics platform.

But as the company talks to law enforcement and private banks, it joins companies like bitcoin transaction monitoring platform Elliptic, which raised $5 million last month for its own blockchain surveillance tools.

In an interview with CoinDesk, Federici said he wants Skry to fill a gap in the rapidly growing database with machine learning tools and business use cases, while making the data publicly available after rigorous scrutiny.

The company’s name is like looking into the future with a crystal ball, Federici added:

“We believe that using machine learning and artificial intelligence in real-time services will allow users to better predict future trends.”