New AI Tool Set To Tackle Volatility In Crypto Sector
However, fears are rife that tough regulations might hamper the rollout.
AI Tool To Seeks To Stabilize Crypto Market
Volatility has been the main adverse issue among many crypto fans. If this issue could be eliminated, then adoption would be much easier. And, now, a company in the fintech sector is working towards achieving this goal.
The firm, Rise, which has been in existence for the past six years, is working around an AI trading system for cryptocurrency exchanges. Under this platform, clients will be in a position to operate different assets across multiple exchanges.
The firm with headquarters in Germany has deployed its algorithm in stock markets, as well as, among other products. According to Rise, the use of its technology has shown to perform better than top markets. It offers services to all clients regardless of their investment size.
Since its inception, Rise has been working on a campaign to increase its user base, which has been on the rise. Currently, the firm boasts over $50 million in assets. The firm is managing tech issues for hedge funds and insurance firms among other products. It has launched a cryptocurrency application that will be anchored to an already established tool dubbed UpTick. By press time, the application has obtained over 100,000 users.
With the success in the traditional market, Rise now wants to replicate the same in the cryptocurrency sector. It aims to roll out a project that will be propelled by low transaction charges, something that has been a major concern among investors. It will also eliminate human interference in the performance of cryptocurrencies.
According to the firm, it has an experienced team of former experts in the market. However, the company has cited regulations as a major hindrance towards achieving its goal. They argue that tough regulations might chase away newcomers in the industry.
Rise further opines that human interference leading to high profits from cryptos is about to be phased out. Developers at the firm have expressed fears that within a short period of time, the crypto market might turn into a traditional securities field. In this case, profits might be harvested by machines while restricting small groups of people.
Rise is set to release the Rise token that will be deployed as an entry point to its system. Individuals who hold tokens will be in a position to be served by top technology systems. On sharing profits, it will have a 20% revenue sharing scheme acquired by Rise.