The saying, knowledge is power, holds true for all aspects of life and world in general. With technology, increased amount of data collection has been made possible- and thanks to the latest in technology, such as internet and sensory gadgets this has become increasingly cheap and easier to acquire. Big data companies are always on the lookout for new and efficient ways to collect and process data.
The last few years has seen the meteoric rise in development of artificial intelligences. These complex programming and hardware are now processing data like never before. The codes have become so complicated that they are rivaling humans in their thinking and thought processes.
AI And Big Data In Cryptocurrency World
Data processors are now increasingly relying on artificial intelligence and machine learning algorithms to speed up and increase accuracy in their field of work. Companies like Facebook and Google are leading the AI development and are increasingly shifting their systems to AIs to take maximum benefit.
The use of synthetic minds’ effectiveness increases within an environment where there are more than normal variables or there is a lot of uncertainty and ambiguity. A properly coded and trained AI can outpace humans easily.
Cryptocurrency and their associated markets are highly unpredictable. In normal ForEx and trading markets, big, experienced players sit and conduct businesses. These individuals and organizations have years of experiences and know when and how to react to market changes. The experiences are so much ingrained in them that sometimes even when faced with a significant drop in the market, major players do not panic as they can predict on the length, time and intensity of the drop.
Yet, in the cryptocurrency market, international exposure, fast pace market, legal hurdles and easy access to trading hubs such as digital exchanges by ordinary people changes the complete environment. The cryptocurrency market is affected by an immense amount of variables, legal ambiguity (security tokens issue, banned in some countries etc.) 24 hours of trading and traders who are scared at even the slightest rumors and panic selling ensuing means that not even the best of professional traders can predict the outcome of the market future.
This is where artificial intelligences come in handy. With their increased speed, ability to find patterns in past data, locate trends and predict future with far greater capacity then any human can do, they are the perfect tool to bring sense out of the chaos of cryptocurrency market.
WatermelonBlock And IBM
Keeping a constant eye on cryptocurrencies and making the right selection of ICO for investments is a very tough decision that is too unpredictable for ordinary man to make. WatermelonBlock is a data processing company that combines big data and the power of AI to deliver a product that has superior analytical capability, deep understanding of the market and provides users with a simple interface that allows them to easily interact and gain useful insight about specific blockchain projects.
The company aims to give users not only the power of machine learning for better prediction, but since the platform is developed using the same technology it aims to process, blockchain, it gives users the speed, efficiency and the security of the decentralized ledger.
The platform has collaborated with IBM, the world leading computer manufacturer to leverage the use of their statistical and data analysis AI, Watson in the cryptocurrency market. The AI has been developed by the famous chip manufacturer for crunching enormous numbers in seconds. The combining of the two forces mean that WatermelonBlock users will be able to get very detailed and reliable data on the benefits and outcomes of investing in upcoming tokens and coins.
Boris Manitius, Cloud Leader for Watson said about the partnership, “WatermelonBlock’s dedicated team of data scientists, will work with IBM industry experts and IBM state of the art equipment to develop, test and monitor a system that will augment WatermelonBlock’s current environment”
Phases of WatermelonBlock
The decentralized AI platform intends to launch its services in two phases:
- Phase 1: Cryptocurrency Insights. The platform will provide a simple mobile application that will deliver unbiased information on updated market snapshot of a selected cryptocurrency. The insights will be developed from collecting information such as internet and social media outlets, public sentiment, real time analysis and response of the market and then allotting a score to each criteria, to develop an overall rating.
- Phase 2: Trading Bot. The platform will create an AI based trading bot that will help investors to immediately trade and liquidate their assets according to the goals and desires of the users. The day-to-day and other trading functions and decisions will be made completely autonomously so that the investor does not have to regularly keep an eye.
The decentralized AI insight and trading platform is set to be a game changer in the highly volatile crypto trading market and has the right vision to become the market leader.
Find out more on the website: http://watermelonblock.io/
