(Source-globalfintechseries)
Introduction and Platform Overview
Lockchain.ai launch, a revolutionary AI-powered Blockchain Risk Management (BRM) platform, has emerged from stealth mode with the aim of providing automated risk management solutions to traders, investors, and fund managers within the blockchain ecosystem. Founded by cybersecurity veterans Aidan Kehoe, Andrew Howard, and entrepreneur Matt Higgins, Lockchain.ai utilizes generative AI technology to offer speed, scalability, transparency, and security essential for navigating the complexities of digital asset management and mitigating risks in an ever-evolving landscape.
The platform’s Software-as-a-Service (SaaS) model delivers continuous due diligence and risk monitoring, ensuring traders and asset managers have real-time insights into the security status of their assets. It meticulously examines custodians and counterparties associated with the portfolio, providing a comprehensive risk assessment to facilitate informed decision-making on a large scale. Moreover, the Lockchain.ai launch facilitates the reconciliation of on- and off-chain balances, addressing a crucial compliance concern particularly relevant as Bitcoin Exchange-Traded Funds (ETFs) gain prominence.
Endorsements and Industry Insights
Jan van Eck, CEO of VanEck Associates, underscores the importance of robust risk management processes in engaging with digital assets. He emphasizes the necessity for tools that offer visibility into counterparties, vendors, and tokens, both on-chain and off-chain. Van Eck praises Lockchain.ai for its ability to process vast amounts of relevant data, providing valuable insights to risk management professionals regardless of their technical expertise.
Nick Percoco, Chief Security Officer at Kraken and advisor to Lockchain.ai, highlights the heightened need for risk management in light of recent security challenges in the blockchain and crypto space. He emphasizes the platform’s role in providing insights into market events and emerging vulnerabilities, enabling users to safeguard their assets amidst dynamic uncertainties.
Mission, Funding, and Future Outlook
Lockchain.ai’s founding team, comprising industry veterans and seasoned entrepreneurs, recognized the pressing need for enhanced security solutions in the blockchain ecosystem. With a mission to deliver user-friendly yet effective security and risk mitigation solutions, the platform aims to redefine the standards of security for blockchain assets.
Andrew Howard, Co-founder and CEO of Lockchain.ai expresses the team’s commitment to addressing the challenges faced by asset managers, traders, and hedge funds through AI-driven risk management capabilities. The platform’s emergence from stealth mode after a year of development signifies a significant milestone in its journey to revolutionize blockchain security.
In a seed funding round led by Lerer Hippeau, Lockchain.ai secured $4.6 million in investment, with notable participation from Arrington Capital, Valhalla Ventures, ARCA, RSE/Vayner, Sonic Boom Ventures, and others. White Star Capital joined in subsequent funding cycles, further validating the platform’s potential to redefine security standards in the blockchain industry.
Andrea Hippeau, Partner at Lerer Hippeau, lauds Lockchain.ai’s platform for revolutionizing business operations across the crypto and blockchain ecosystem. With AI at its core, Lockchain.ai stands out as the only BRM product capable of delivering the speed and results necessary to ensure client safety in this rapidly evolving sector.
The Lockchain.ai launch marks a pivotal moment in the quest for enhanced security and risk management solutions within the blockchain ecosystem. With its innovative AI-driven platform, Lockchain.ai is poised to empower traders, investors, and fund managers with the tools they need to navigate the complexities of digital asset management with confidence and security.
