Capital One’s Cryptocurrency AI System

The United States Patent and Trademark Office (USPTO) published a patent application on Aug. 13 for a cryptocurrency system filed by financial services company Capital One Services. It is a continuation of Capital One’s system patented in June. Capital One Services is affiliated with Capital One Bank, a subsidiary of Capital One Financial Corp. The corporation had $304.2 billion in deposits and $421.3 billion in total assets as of June 30. A Fortune 500 company, Capital One trades on the New York Stock Exchange (NYSE) under the symbol COF.

Capital One explained that cryptocurrencies trade 24/7 so traders need to monitor information from many sources all day. Numerous factors could affect trade decisions, including regulatory and exchange news, stock market news, rumors, and opinions on social media such as on Twitter, Reddit, Youtube, and Telegram. There are also events that could affect the market, such as initial coin offerings (ICOs), forks, airdrops, hacks, rebranding, and company future plans. Capital One asserted that “it would be impossible for human traders to track all of the above-mentioned cryptocurrency-related data and respond to that data in real time.” It would also be impossible to verify the credibility of the information in real time, the company added, noting:

"Accordingly, there is a need for a centralized platform that analyzes speculation, news, and other cryptocurrency-related information as well as provides a recommendation and/or implements the provided recommendation."

The patent application describes a system with “a credibility analysis engine configured to determine the credibility of the cryptocurrency-related information,” with weighting assigned. It also describes an AI engine “configured to predict a cryptocurrency market trend based on … all received information and corresponding weighting.” In addition, it can be configured to generate and execute personalized trades automatically based on predicted crypto market trends.

......

轉貼自： bitcoin.com

若喜歡本文，請關注我們的臉書 Please Like our Facebook Page： Big Data In Finance