Anyone who has invested in the cryptocurrency market knows that doing so is fraught with inherent risk: prices can swing wildly and what seems like a good trade one minute, can turn out to be a poor one, the next.
In these instances, the value virtual crystal ball is beyond measure. Imagine if you could have predicted that bitcoin would jump from under $12,000 on December 6th, 2017, to over $18,000 in the space of just 48 hours, or you had known that it would drop back down to $12,000 just a few weeks later.
How much money would you be able to make if you actually knew where the top (or the bottom) of a market was?
That will soon be possible: Alphacat is set to become the world’s first robot adviser marketplace that will be focused solely on cryptocurrencies. Their platform will consist of robots that utilize both artificial intelligence (AI) and ‘big data’ to predict the future price of specific cryptocurrencies.
The term ‘big data’ refers to extremely large datasets that can be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.
robots use big data to calculate the likelihood that a particular market will increase, and to date, its price prediction for bitcoin has an accuracy of 60%.
There is no other prediction platform on the market with that level of accuracy and due to the fact that the robots are constantly learning, this is set to steadily increase over time.
The platform will go live in Q3 of this year. To begin with, it will focus solely on bitcoin but, in time, will have price predictions for popular altcoins such as Ethereum, bitcoin Cash, Litecoin and NEO.
After that, the sky is the limit. There really is no boundary to the number of markets that this technology can be applied to, so as becomes the dominant force in the AI-powered prediction trading field, many more altcoins will be added to this list.
At present, the project is still in its early stages and has been flying under the radar with regards to western investors but that is all set to change as 2018 unfolds, and with the token price currently sitting under one cent (at time of writing), there is massive potential for growth.
Add in the fact that ACAT will soon be listed on multiple popular cryptocurrency exchange,including HitBTC, and you don’t need sophisticated AI robots to tell you that this is an opportune time to get in at the ground level before things really take off.
If you failed to invest in Neo when it was Antshares or missed the boat when Ethereum set sail, this is a fantastic chance to invest in some exciting technology before the rest of the world does.
The cryptocurrency market is still in its infancy and for that reason, is susceptible to wild swings, both up and down. The ability to identify those swings before they happen is the key to making money, no matter what the market is doing!
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Cryptocurrency became mainstream in 2017, however, Blockchain technology which powers most cryptocurrencies, is still in nascent stages. The recent crypto hack on Binance raised one more red flag for exchanges and investors to look into better and smarter risk control mechanism.
On Mar 20, a local blockchain security company reported a new token attack, through automated program, the attack is based on flaw of unlockAccount function and the attacker robbed hundreds of different tokens over the past two years, including Ethernet coin with a current value over 20 Million USD. Technical analysis shows that the attacker is likely some early fan of Ethereum technology.
While we will continue to see more companies across different industries to look into how Blockchain will help with improved efficiency and potentially new business model, the technology itself is evolving and converging to some new direction.
“Faster, Easier and Safer”, with a fusion of AI and Blockchain, aims to change the entire game of the technology. While we see many ICO companies are selling fancy ideas and treat the market as a teller machine, the MATRIX team is focusing on the design of the underlying infrastructure and the establishment of the value system.
Smart contracts 2.0 like Augur, TheDAO, Digix, FirstBlood are sophisticated and creating rooms for logic loophole, phishing attempts also increase the risk for users. Based on the embedded MATRIX AI module, the MATRIX technology will collect and analysis each individual’s behavior pattern and utilize it to avoid irregularity and protect each single transaction.
It also formalizes a few secure models with users’ acknowledgement to address typical transaction scenarios. These “Personalized Smart Contract Template” can be reused and avoid manual error dramatically.
In the same time, the module is also a security system based on GAN (Generative Adversarial Nets) which “train” your smart contracts by attacking them with random variables to continuously improving your contracts. Think about AlphaGo, the machine learning technology behinds that helps the smart contracts to learn and improve after every attack.
“Intelligent Contract we call it”, Steven Deng said. The Tsinghua professor and his team have worked on numerous national level research projects around AI. After receiving his Ph.D. degree from Carnegie Mellon, he has focused on the areas including machine learning, industry data analytics, and computer architecture.
Prof Deng is currently in charge of designing machining learning algorithms and hardware architectures for MATRIX Blockchain.
AI powered a “Safer” Blockchain, but there are more exciting features to be expected.
The MATRIX team, including industry leading experts like Steven Deng (Chief AI Scientist), Bill Li (Chief Network Architect), Ethan Tian (Chief R&D Engineer), Tim Shi (Chief Chip Scientist), are inventing a new Bayesian mining system that these mining activities will support medical diagnoses, complex finance modeling, behavior recognition and any other non-crypto cases which need massive computing power.
Some additional features are that the “Intelligent Contract” will open to NLP (nature language processing) and have superior transaction speed (target at 1M transaction/sec which is 20,000 times faster than peak throughput of Ethereum network).
“When the blockchain has AI, wonders never cease. Follow MATRIX now; the price is bound to increase.”
– Adapted from “Ode To Ethereum” by Jacques Martin
Project Timeline:
2018.09 Age of Genesis / Initialization / Infrastructure / Private chain / Inter-chain
2018.12 Age of Speed / Light Speed Network / AI-enabled PoS+PoW consensus /
2019.04 Age of Civilization / AI-secured Intelligent Contracts / Formal verification / AI based proactive protection / AI created autonomous constitution
2020.01 Age of Wonder / Mining & Applications / Mining ICs / Computing/mining facility /
About Matrix
Designed to be the new generation blockchain, leverages the latest Artificial Intelligence (AI) techniques to revolutionize the landscape of cryptocurrency. MATRIX differentiates itself from previous blockchains by offering breakthrough technologies in building AI-enabled autonomous and self-optimizing blockchain networks, which feature multi-chain collaboration and decoupling of data and control blocks.
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The Organization for Economic Cooperation and Development (OECD) has issued a report to the G20 finance ministers and central bank governors. The report examines the accomplishments and aims of the OECD in advancing its efforts to “redefine the international landscape,” identifying new technologies cryptocurrencies and distributed ledger technology as posing unique challenges to “tax transparency.”
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OECD Discusses International Tax Agenda
The asserts that the OECD, with assistance from the G20, has made “enormous strides” in implementing the OECD’s international “tax agenda.” The organization claims that its policies have resulted in a transition of the “global financial system” from “opacity and incongruity to transparency and coherence.”
Among the primary policy objectives sought by the institutions has been greater “tax transparency,” with the report stating that “tax transparency has been at the heart of the OECD’s role in the international tax area.
Despite boasting of numerous accomplishments with regards to fostering greater taxation transparency, the report identifies the increasing “digitalization of the economy” as giving rise to a number of significant challenges to the the OECD’s international policy objectives.
Cryptocurrencies Identified as Threat to Tax Transparency
The OECD states that “technologies like blockchain give rise to both new, secure methods of record-keeping while also facilitating “crypto-currencies” – which are described as “pos[ing] risks to the gains made on tax transparency in the last decade.”
Whilst the report states that “Some work is already underway to better understand and address these developments,” the OECD asserts that “further work is required to ensure that governments can harness the opportunities these changes bring while ensuring the ongoing effectiveness of the tax system.”
The report states that “The Forum on Tax Administration, working with the Inclusive Framework, will develop practical tools and cooperation in the area of tax administration and will also examine the tax consequences of new technologies (e.g., crypto-currencies and blockchain distributed ledger technology),” with an update on the forum’s findings expected to be delivered in 2019.
What is your reaction to the Organization for Economic Cooperation and Development’s report? Share your thoughts in the comments section below!
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