CryptovationX
CryptovationX (CXA) was established by Cryptovation and two major collaborators – AVA Advisory and Asia Wealth Group. It aims to assist crypto investors by utilizing artificial intelligence (AI) to build a “best of breed” robo-advisory platform for digital asset investment.
Cryptocurrency Market Problems
Blockchain technology was first introduced in 2008 by an anonymous coder called ‘Satoshi Nakamoto’ through the publication of a paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’. The paper describes the use of payment from one party to another without an intermediary financial institution through a peer-to-peer network and hash network timestamped transactions into an ongoing chain of hash-based proof-of-work. This paper paved the way for the beginning of the Decentralization and Cryptocurrency era.
However, it can be daunting for new investors (or potential investors) to step into the world of cryptocurrency investment as the high volatility of the market may cause cryptocurrency values to drop sharply in a short period of time, causing amateur traders to panic and attempt to cut losses. Furthermore, this emerging market is inefficient. Asymmetric information leading to extreme price differences in the same digital asset between each exchange portal still occurs. For example, the so-called “Kimchi Premium” where cryptocurrencies generally sell for higher prices in South Korea, has been in effect since 2017 and demonstrated around 40 per cent premium during early 2018. To address such problems, a platform that can pool together sets of information in one place for people to access and understand easily is required. Education and training regarding the difficulties and challenges of trading and investing can help an investor to mitigate losses due to fear, uncertainty, and doubt (FUD).
Sustainable Development Problems Globalization and technological advancements have made the world a better place but problems remain. These are the problems that the United Nations Sustainable Development Goals seek to address. We think we can make a modest contribution to alleviating these problems by way of our corporate social responsibility initiative described later in this Whitepaper.
CryptovationX Foundation The CryptovationX Foundation [1] will be co-founded by several organizations with the aim of utilizing Artificial Intelligence (AI) to build a “best of breed” robo-advisory platform for digital asset investment with an overarching vision of corporate social responsibility. The organizations listed below are major collaborators in CryptovationX Foundation. Cryptovation [2], the Founding Member of the CryptovationX Foundation, is a limited liability company organized in Nevis. It has developed a Robo-advisor called the ‘Arbot Robo-advisor’ [3], an open-source program that uses Quantitative Analysis to recommend the most profitable low risk trading opportunities in cryptocurrencies. Cryptovation has developed a Digital asset Arbitrage Terminal (Arbot) which has already been purchased by a number of portfolio managers and hedge funds. These tools assist fund managers with arbitrage strategies in digital assets and ICO tokens. AVA Advisory [4] is an investment Robo-Advisor utilizing Artificial Intelligence technology combined with a simple customer UX to help investors increase their investment returns. AVA underwent forward testing on the Thai Stock Exchange using its auto-trading AI function. It also founded Omicron Labs [5], a Cognitive Science and AI Research Lab on Financial Intelligence supported by Sirindhorn International Institute of Technology (SIIT) in Thammasat University. AVA will assist in the development of the AI engine for the CryptovationX Robo-advisory platform. Asia Wealth Group [6] is a wealth management business listed on the Nex Exchange [7] in the United Kingdom. It seeks to acquire synergistic companies that have the potential to expand across Asia. As collaborators with CryptovationX Foundation, they provide professional expertise and advice.
Robo-advisory Platform ‘CryptovationX Robo-advisory Platform’ will be an iOS and Android mobile application that will contain 6 basic features and 6 advanced features, which will be employed in 3 robo-advisors (2 advanced features for each robo-advisor). Broadly speaking, the robo-advisors function as personal assistants that will aid users in learning more about digital asset investment, enabling them to make decisions based on data and algorithms. Each robo-advisor will have a persona that can be asked questions, provide tutorials and even help run the user’s account based on the preferences of the user. They will also provide opportunities for users to earn tokens that can be within the platform to unlock many new features and services provided by the robo-advisors. More specifically, there will be 5 levels of services available for all users based on the level of the user’s membership, as described further below. The 3 robo-advisors each have a nickname for ease of reference as follows: ‘Arbi’ for arbitrage trading robo-advisor; ‘Specto’ for speculative trading robo-advisor and ‘Broca’ for brokerage robo-advisor.
General Features General features are features that are shared among all three Robo-advisors as follows:
1. Assistant Chatbot The function of this chatbot is to answer questions asked by the user through voice or text. Users can ask about platform features and blockchain-related questions. The chatbot will respond with the best answers using machine learning technology which continuously improves its performance.
2. e-Learning and Quiz This function is designed to educate and help users gain a better understanding of investing in blockchain through quizzes and mini-games. Gamification of learning will incentivize users to learn and complete more quizzes or mini-games.
3. Prediction Game This feature will offer users an opportunity to be an analyst (‘Predictor’) by participating in a gamified series of predictability questions regarding digital asset prices, market trends, etc., earning CXA tokens as a reward (see 4.1.2 Predictor Incentive Program). A sample question could be, “What is the anticipated target price of Ethereum in one week?” with the data collected from answers to this question utilized towards further development of our AI engine through deep learning (see 3.2 Collective Intelligence Program).
4. Exchange Registration Assistant The platform can provide a one-stop feature for registration including KYC details such as passports held on our database. CryptovationX will only use such private data strictly for verification purposes across supporting cryptocurrency exchanges and with prior approval from investors.
5. Portfolio Monitor Dashboard This feature will allow users to monitor all cryptocurrency accounts the user owns in a single place. By presenting statistics in a dashboard style, the user will be able to obtain important information at a glance. For example, the dashboard can illustrate a list of the cryptocurrencies and digital assets the user has and their total digital asset worth in USD.
6. Human Language Order The user can input written language to provide complex instructions helping facilitate automation of digital asset trading. For example, suppose the user wants to purchase a digital asset when the value dips below a certain threshold: here, the user can key the instructions into the system. The degree of complexity can vary depending on the expertise of the user. For example, basic users may input something akin to, “Buy Ethereum when the price drops to $300, and sell Ethereum when the price is $350”. Advanced users can input more complex instructions such as, “Every day at 5pm, if the price of Ethereum goes below 5% of the value on the previous day, purchase Ethereum at a rate of no more than 100 per week. If Ethereum is rising by 5%, sell Ethereum but no more than 5 a day.” This feature will be offered in collaboration with an innovation of Capitalise Crypto [https://capitalisecrypto.ai] which uses Natural Language Processing (NLP) Technology, employing human language to translate into commands or actions for a computational system.
‘Arbi’ (Arbitrage Trading Robo-advisor)
Arbi is an Arbitrage Trading Robo-advisor. Arbitrage is adjustable-risk trading by simultaneously buying and selling fiat and cryptocurrencies in order to take advantage of price differences of the same asset in different markets. This process utilizes a large volume of data and multi-step calculations in order to determine if an identified transaction is profitable. Arbi’s algorithm will collect information from multiple sources and generate a list of potential opportunities for the user, Arbi will also provide for execution of the arbitraging strategies. Higher-level user accounts may skip the previous part and directly ask Arbi to complete the multiple steps, including clicking buttons, thereby eliminating the long-process of manual instruction. Users will be able to receive notifications for any trading opportunities in which they can take a more sophisticated decision as regards trading and investing in cryptocurrency. At this level ‘Arbi’ also allows the user access to the arbitrage system.
‘Specto’ Speculative Trading Robo-advisor
Specto is a Speculative Trading Robo-advisor. Speculative trading is the act of trading a financial instrument involving high risk with the expectation of significant returns in order to maximize profit from fluctuations in the market. AVA advisory [www.ava.fund/], with 4 years of R&D and experience in the equity market, will be providing their expertise to develop Specto. For new investors, Specto will develop predictability tools and pattern/trend analysis for users to gain a better understanding of conventional proprietary trading. For experienced traders, Specto, through use of real-time analysis and AI prediction, aims to provide tools that can help minimize risk, eliminate manual prediction, and streamline execution of speculative trading strategies. Specto users will be able to receive notifications of real-time trading opportunities supported by a suite of risk management and predictive trade tools Specto can also suggest improvements to the user’s trade strategies and provide supporting information designed returns.
‘Broca’ Brokerage Robo-advisor
Broca is a Brokerage Robo-advisor. Combining detailed industry and sector analysis with thorough assessment of professional, reputable third-party service providers, Broca will recommend ICO investment opportunities and provide digital asset management fund portfolio allocation suggestions. Participating in ICO fundraising campaigns can be a challenge with reliability and trust key concerns in the minds of investors. Broca can critically analyze ICOs and list them in order of perceived reliability using available data including trend prediction, independent reviews and historical records. Moreover, although there are many digital asset management services in the market, most are not trustworthy and the problem of fraud persists. Broca provides additional features for portfolio managers that provide digital asset brokerage services to their clients. Users have the option to turn on notifications for emerging ICOs which have opened for token sale and have been approved as reliable based on data analysis. Information from various reviewing sites such as Crypto Compare [https://www.cryptocompare.com/], ICO Rating [8], ICO Stats [9], etc., as well as the general social sentiment by other people involving specific ICOs will be collected for the user’s ease of reference. For digital asset management service providers, Broca will assist subscribers clients by signaling ICO listing updates and analyzing potential ICO projects according to whitepaper, existing team, ICO analysis, community feedback, and technical review. Filtering ICO projects on average takes many months to undertake:utilizing Broca, investors can eliminate or reduce such time resources.
More Information:
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