Aug 17, 2020 at 20:27 UTCUpdated Aug 17, 2020 at 20:46 UTC
“Unlike many other markets, cryptocurrencies trade 24/7, thereby requiring traders to make decisions at all times throughout the day,” Capital One wrote in its filing. (Shutterstock)
Capital One has moved to patent an artificial intelligence platform capable of turning the internet’s 24/7 cryptocurrency informational overload into actionable trading recommendations.
- Capital One’s “credibility analysis engine” would sort through and analyze price speculations from Telegram, Twitter and Reddit crypto influencers; hacking news; regulatory headlines; YouTube videos; protocol blog posts and more, according to the Aug. 13 patent application.
- This AI-backed engine would then weigh these signals against historical trends and source track-records to generate a “market trend prediction” for the cryptocurrencies, the filing said.
- The result: a “personalized trading decision” for cryptocurrencies that users could opt to execute on the platform, according to the application.
- “It would be impossible for human traders to track,” digest, decipher and trade on the entire breadth of cryptocurrencies intelligence alone, Capital One said in the application.
- Capital One did not immediately respond to CoinDesk questions on what it plans to do with its AI credibility engine or if the platform is already in use.
Read more: eToro Launches Crypto Portfolio Weighted by Twitter Mentions
Read more about…
Capital OnePatentsArtificial IntelligenceCrypto TwitterCoinFlash
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Leave a Reply