PARSIQ (PRQ) is a platform that seeks to provide monitoring and intelligence tools for blockchain technology across various sectors. It aims to empower users to monitor network activity in real time, unlock new applications, and generate immediate notifications. PARSIQ's Smart Triggers are designed to respond to events of interest on multiple networks. The platform's token contract, PRQ, was introduced on Ethereum in 2019. PARSIQ strives to make blockchain events accessible and blockchain data actionable, enabling users to monitor any events across different blockchains in real time and at scale.

PARSIQ operates using proof-of-custody and proof-of-solvency consensus mechanisms to provide real-time blockchain monitoring capabilities. It employs a dedicated programming language for developers who wish to fully utilize PARSIQ, but the technology is accessible to all through the use of visual editors that utilize drag-and-drop templates. The platform seeks to offer an analytical view of blockchain transaction history and real-time monitoring of accounts, transactions, and related blockchain state. It employs advanced parsing and processing of transaction trees using big data analytics techniques and machine learning algorithms to provide detailed insights into blockchain asset movements.

PARSIQ seeks to offer a comprehensive and modular blockchain analytics platform that is publicly accessible. It can be utilized by consumers to monitor their cryptocurrency wallets and keep track of their on-chain assets, providing an additional layer of security. Businesses can use PARSIQ to monitor enterprise assets such as multi-signature wallets or track interactions with certain business-related smart contracts. Traders can predict market movements based on factual blockchain data and use real-time tracking to detect movements that may indicate certain market activity. Law enforcement agencies can use forensic analytics modules to investigate blockchain-related cybersecurity incidents or track payments made in relation to illicit activities.

PARSIQ was co-founded by Tom Tirman, Andre Kalinowski, and Anatoly Ressin. Tirman, who serves as the CEO, has extensive experience working in fintech companies and with banking firms. Kalinowski is a certified engineer with a master's degree in cybersecurity and digital forensics. Prior to PARSIQ, Ressin founded his own software development company, Blockvis, and has been involved in the development of blockchain solutions. The total supply of PRQ tokens will consist of 500 million tokens. As of September 2020, €1.6 million was raised through a private sale. Currently, PARSIQ has a circulating supply of more than 100 million tokens.

PARSIQ's technology is designed with the intention of streamlining data processing in blockchain-based processes, reducing the need for extensive development work. In terms of transparency, PARSIQ's technology aims to provide a ledger of transactions for auditing purposes, ensuring that actions on the blockchain are traceable and verifiable. This aims to ensure traceability and verifiability of actions on the blockchain.

PARSIQ's monitoring and automation solutions aim to be beneficial to a wide range of industries and sectors. These include the financial sector, retail, construction, telecommunication, oil, gas and energy, pharmaceutical, utilities, automotive, fashion, logistics, and food industry. PARSIQ's platform strives to allow for real-time blockchain data monitoring and automation of various processes. For instance, in the retail industry, it seeks to automate pricing and inventory adjustment, while in the construction industry, it intends to automate invoice generation and processing. In the telecommunication industry, it aims to help reduce data inconsistencies and delays in data exchange. In the oil, gas, and energy sector, it strives to help with monitoring and reporting for exploration and trading. In the pharmaceutical industry, it seeks to help with clinical trials and regulatory compliance. In the utility industry, it aims to help with customer records management and faster complaints resolution. In the automotive industry, it strives to help with dealer management and supply chain logistics. In the fashion industry, it seeks to help with digital product creation and e-commerce logistics. In the logistics industry, it aims to help with scheduling and tracking shipments. In the food industry, it strives to help with managing documentation and data surrounding product recall management and food safety.

PARSIQ's Smart Triggers are designed to facilitate real-time, on-chain data or events to trigger various predefined actions both on-chain and off-chain. This technology is often referred to as a "reverse oracle" solution, as it allows developers to gather data, automate workflows, and create numerous ways for blockchain activity to trigger actions in real-world applications. Smart Triggers aim to be integrated and automated into workflows, managing the overall workload. They are customizable to a certain extent and intended to be user-friendly, even for those without a coding background. For instance, Smart Triggers can be used to monitor NFT activity, track trades of valuable OG NFTs, and provide live monitoring of staking pools. Smart Triggers can monitor data and create alerts, deploy bots, and perform automated accounting. PARSIQ's Smart Triggers aim to be compatible with various platforms, including the Polkadot Relay Chain.

PARSIQ strives to improve security and compliance in the blockchain space by providing real-time monitoring of crypto addresses. This real-time monitoring aims to allow users to receive instant notifications about transactions as they occur, which may be useful for businesses that accept crypto payments or traders who aim to stay updated about their transactions. PARSIQ's solution seeks to detect blockchain activity at the mempool level, meaning users may get alerted about upcoming transactions even before they are fully confirmed on the blockchain. This real-time monitoring also aims to provide insights into the origins of transactions, helping users determine if the funds may have originated from a blacklisted address. This may be important for compliance purposes. And, PARSIQ's real-time monitoring strives to improve security by alerting users of any unauthorized outgoing transactions from their address, helping them react promptly to potential security breaches.

The PRQ token, the native token of the PARSIQ ecosystem, has a total supply of 500 million tokens. The distribution plan allocated 250 million tokens for Initial Exchange Offering (IEO) participants and the remaining 250 million tokens for reserves, marketing, development, advisors, and the team. However, due to market conditions, only 98.3 million tokens were distributed during the IEO, resulting in a total circulating supply of 101 million PRQ tokens. The remaining 151.7 million tokens were sent to a retention wallet, effectively making them inactive. To balance the token distribution, an additional 38.04 million tokens from the team and advisor allocation were added to the retention wallet. These tokens, totaling 189.74 million, were later removed from the total supply, reducing it to approximately 310 million PRQ tokens. As of now, the circulating supply aims to remain stable. The PRQ token is primarily used for participating in the network's operations, with a significant number of PRQ tokens participating in the network's operations.

PARSIQ has engaged in several strategic partnerships to diversify its services. One noteworthy collaboration is with AllianceBlock, a platform that strives to bridge the gap between traditional finance and decentralized networks. This partnership aims to build a bridge for data pipelines that can be utilized in popular data marketplaces, creating non-financial benefits and alternative operational structures utilizing DeFi data. Another noteworthy collaboration is with Cyberport, a digital technology hub based in Hong Kong. This collaboration intends to advance PARSIQ's data-related research and diversify its reach in the Asia Pacific region. PARSIQ has also partnered with various other blockchain projects and companies, including Hera Finance, Uniblock, and Alibaba Cloud, to diversify its offerings and provide more diverse services to its users.