Exclusive: Lockchain.ai launches as world’s first AI-powered blockchain risk management platform — how Bitcoin ETF approval creates ‘clear need’ for companies

The company founded on Monday combines two well-known growth areas. lockchain.ai We are developing a blockchain risk management platform that leverages the power of artificial intelligence.

what happened: Lockchain.ai, launched as the first artificial intelligence-powered blockchain risk management platform, came out of stealth mode on Monday and announced key investors and management team.

Lockchain.ai was founded by an experienced cybersecurity CEO Aidan Kehoe and andrew howard and count RSE Ventures “Shark Tank” co-founder and CEO and guest Shark matt higgins As a co-founder.

Mr. Kehoe is a former CEO. SKOUT Cyber ​​SecurityRetrieved by barracuda networks 2022. Former CEO Howard Kudelsky Securitiesy is the CEO of Lockchain.ai.

The trio saw a “clear need” for more security and due diligence services in blockchain security. Lockchain.ai’s goal is to “provide easy-to-use and effective security and risk mitigation solutions for companies working with blockchain technology and digital assets.”

The company’s $4.6 million seed round of investment was led by Lerer Hippo.Other investors who participated in the funding round include: Alexi Weiss of Arrington Capital, Valhalla Ventures, ARCA, RSE/Vayner, Sonic Boom Ventures, and Clear Sky Capital. and Altico search. white star capital It will be invested in subsequent funding cycles.

In an interview with Benzinga, Howard emphasized the role investors and board members played in building the company.Board members include former members algorand CEO Steve Kokinos.

“Our board of directors and investors have been close partners throughout the creation of this company. From our advisors to our potential customers, they have been amazing,” Howard told Benzinga.

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About Lockchain.ai: The newly formed company will provide automated risk management solutions to traders, investors, and fund managers in the blockchain ecosystem.

The company leverages generative artificial intelligence to power speed, scalability, transparency, and security in the growing digital asset space.

Lockchain.ai can also assist asset managers with compliance of related on-chain and off-chain balances. Bitcoin ETF.

“We are a group of security experts who have been working on the blockchain ecosystem for the past several years,” Howard told Benzinga.

“In developing the company’s paper, we spoke to everyone we could in the field. It quickly became clear that security for traders, hedge funds and asset managers was not being adequately provided. I did.”

The company’s SaaS platform provides due diligence and risk monitoring, including instant notifications, insight into the potential impact of an event, predictive impact analysis of contagion risk, and a real-time view of risk status.

What’s next: Howard told Benzinga that Lockchain.ai leverages vast amounts of data from sources such as: OpenAI.

“Finding truth in data is complex, and AI can do a lot of the work for us,” Howard says.

Lockchain.ai’s CEO and co-founder said the company monitors on-chain and off-chain events and can provide indicators that an incident is approaching.

“The first step in any risk management plan is to visualize potential risks. You can’t fix what you can’t measure.”

Howard said one item that could increase the need for blockchain risk management is the approval of Bitcoin ETFs and more traditional financial institutions in the blockchain ecosystem.

“These types of financial institutions are used to having risk management tools available to them. We founded this company during the crypto winter, and we knew now was a good time to build. We knew these ETFs had potential and built a solution using these ETFs’ in mind. “

Howard said Lockchain.ai “wanted to bridge the gap and make it easier for traditional financial institutions and traders to operate in the blockchain ecosystem with some level of security.”

The Lockchain.ai website went live on Monday, and the company plans to host a webinar on April 9 to share further information and important issues affecting digital currency management.

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Lockchain.ai CEO Andrew Howard. Courtesy photo.