Lockchain. At a release celebration at NASDAQ presently, AI has emerged from the shadows with the backing of Lerer Hippeau to introduce a novel type of risk management solution, empowering traders to make well-informed decisions at a sophisticated level.
On April 1, 2024, in ATHENS, Ga., Lockchain.ai, the AI-powered Blockchain Risk Management system, has officially announced its launch to deliver automated risk management solutions to traders, investors, and fund managers within the blockchain ecosystem. Founded by seasoned security CEOs Aidan Kehoe and Andrew Howard, along with Matt Higgins, and supported by initial funding from Lerer Hippeau, Lockchain.ai utilizes advanced AI to provide speed, scalability, transparency, and security to the rapidly evolving realm of online asset management – critical features in mitigating potential future risks.
Lockchain. For asset managers and investors seeking real-time safety insights into their traded assets, AI’s SaaS program offers continuous due diligence and risk monitoring. This includes evaluating custodians and counterparties associated with the portfolio to offer a comprehensive risk assessment and assist traders in making informed decisions on a larger scale. Additionally, as Bitcoin ETFs enter the market, AI facilitates the reconciliation of on- and off-chain balances, addressing a significant compliance concern.
Jan van Eck, CEO of VanEck Associates, emphasizes the necessity of a robust risk management strategy for all financial services entities, stressing the importance of tools that provide visibility into counterparties, vendors, and tokens, monitoring activities both on and off the chain. Lockchain aids in processing vast amounts of relevant data and offers insights to risk management professionals, regardless of their technical expertise.
Lockchain. The platform’s capacity to swiftly analyze extensive data sources enables it to provide a real-time view of risk status, immediate alerts on significant on- and off-chain events impacting portfolios, straightforward insights into potential consequences, predictive impact analysis of contagion risk, and soon, an automated system with predefined playbooks and exit strategies to respond to events effectively.
Nick Percoco, Chief Security Officer at Kraken and advisor to Lockchain, underlines the importance for users in the blockchain and crypto space to comprehend the actual risks involved in light of recent security challenges. AI. In this dynamic environment, risk management emerges as a critical tool, offering insights and strategies to navigate uncertainties and safeguard investments effectively.
Established in 2023 by Andrew Howard, Aidan Kehoe, and Matt Higgins, Lockchain.ai aims to address the market’s need for a security solution that surpasses existing services in security and professional due diligence. The team is dedicated to providing straightforward and efficient security and risk mitigation solutions to businesses operating within blockchain technology and digital assets.
Lockchain. AI’s emergence from stealth mode after a year of development marks a significant milestone in their quest to revolutionize blockchain asset security. Andrew Howard, Co-founder and CEO of Lockchain.ai, expresses their commitment to leveraging AI-driven risk management capabilities to assist asset managers, traders, and hedge funds in navigating the complexities of this evolving landscape effectively.
Securing $4.6M in a seed round led by Lerer Hippeau, Lockchain.ai’s investors include Arrington Capital, Valhalla Ventures, ARCA, RS E/Vayner, Sonic Boom Ventures, Alex Weiss of Clear Sky Capital, and Artico Search. White Star Capital has joined in a subsequent funding round.
Andrea Hippeau, Partner at Lerer Hippeau, acknowledges the critical role of security and risk management in the blockchain sector, highlighting Lockchain’s revolutionary platform that addresses these pressing needs. With AI at its core, Lockchain.ai stands out as the premier Blockchain Risk Management product offering speed and efficacy to safeguard customers in this industry.
Lockchain. While headquartered in New York City, AI’s corporate base is located in Athens, Georgia. The board of directors of AI comprises Steve Kokinos, former CEO of Algorand, and Deneille Pemberton-Heard, an executive with the Diversified Search Group.
About Lockchain.ai
Lockchain.ai is the pioneering risk management platform for blockchain assets, utilizing generative AI to provide traders and asset managers with real-time intelligence on portfolio risks. With the support of industry experts in cybersecurity, application security, digital currency management, and blockchain technologies, Lockchain’s platform is now accessible to users seeking advanced risk management solutions.
SOURCE Lockchain
