Artificial intelligence meets blockchain in new trading platformMarch 16, 2018
Artificial Intelligence (AI) has advanced astronomically over the years. Apart from being used in projects to help fight world hunger and create autonomous cars, the technology has also seen a lot of success in games like poker and chess. Now, AI is looking to take on blockchain to help investors predict how to manage their portfolios.
OpenBlock has created OBi, a trading bot that is built around AI. It never sleeps, constantly crunching data to help users determine when to buy or sell, or keep things the way they are. OBi follows a strict set of rules, compiles analysis based on these rules and then supplies its results to OpenBlock users.
Obi took developers two years to create. It now works with more than 20 cryptocurrency pairs and can manage up to 1,200 round trips each day. The bot’s algorithm purportedly will provide the users with maximum returns if its output is followed.
OpenBlock started its presale on February 28. During the initial round, the price was $0.50, but went up to $0.65 in the second round, which is currently ongoing. When it moves into round three on March 6, the price will rise again, reaching $0.70. The initial coin offering (ICO) will follow the presale and begin on April 3, lasting for a month.
With the high volatility in the markets right now, traders need all the help they can get. With new cryptocurrencies being launched daily, predicting how to direct investments becomes a more and more confusing task. Currently, more than 1,500 digital coins are on the market, with new coins being released almost daily.
Every day, it seems that new information is being disseminated that is difficult to verify, making the decision-making process a complete chore. The information may be low-quality, irrelevant or even immaterial, perpetuating the confusion around cryptocurrencies and their true place in global finance.
Those investors who have had a lot of success in the markets will say that cryptocurrencies are great. On the other hand, the unlucky ones who have lost would prefer to never hear of cryptocurrencies again. The broad range of options, irregular information, major fluctuations and the relatively young age of crypto, makes a tool such as OBi a highly-valuable resource.
While trading of any kind—cryptocurrency, stocks, futures—has an element of risk attached to it, any tool that can assist investors in making their decisions is welcome. Based on how far AI has advanced in recently years, and how it continues to advance, having an AI buddy as a guide can be a huge benefit.
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