Capital One Gains Patent for AI-Based Crypto Market Analyzer

A subsidiary of American financial services giant Capital One has obtained a patent for an artificial intelligence-based cryptocurrency market analyzer to alert the traders of various risks.

Awarded by the US Patent and Trademark Office last week, the AI-based system will analyze the “credibility of cryptocurrency-related information” and reduce the risks exposure to the traders in the volatile market.

“It would be impossible for human traders to track all of the above-mentioned cryptocurrency-related data and respond to that data in real-time,” the patent filing noted. “Further, it would also be difficult to verify the credibility of the cryptocurrency-related information in real-time. In particular, it is difficult to verify the credibility of speculation, rumors, opinions, and other information posted on social media and elsewhere.”

The AI-based system will first collect publicly available information on the crypto market and then check for their relevance by putting the feeds into a “credibility analysis engine” by cross-referencing them with past market data.

The patented system collects all these processed data to make crypto trading decisions.

“The Machine Learning Machine Learning Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Read this Term algorithm can also determine the reach … and how quickly the news spreads out, what investors said and felt … on social media as the news was spreading out, how long it took for the initial fear, if any, to fade out, for the ‘buy-the-bottom’ mood to arise, as well as for the market to bounce back up, the patent added.

No plans for offering service

As based on AI, the system gets better day-by-day processing more and more data, learning from past trends.

Capital One does not have any recent plans to offer services based on the newly patented system as it believes that it needs further nuance.

Despite the crypto-specific patent, the bank is still hostile towards the industry and also blocked accounts for purchasing crypto.

“As with many nascent markets, many cryptocurrency investors rushed into the market without adequate knowledge and experience in either trading or Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term,” the patent filing added. “In fact, many of the cryptocurrency investors were trapped by short-term market movement and lost money quickly.”