Blockchain and AI

Predicting the price of Bitcoin through brain power and AI

Pynk taps people’s brain then feeds the results to artificial intelligence and uses it to predict the price of Bitcoin. Digital startup veterans are the core team behind the people-powered investment platform, Pynk.

Co-founder Rupert Barksfield credentials and pitching prowess certainly impressed the judges at Malta’s AI and Blockchain summit. On Thursday, at the Malta AI and Blockchain summit, Pynk won first place in startup contest. Its co-founder, Rupert Barksfield, was interviewed by Decrypt, a news outlet,

Barksfield said:

“Pynk is the only investment vehicle in the world where you can invest time or money. People across the world are not allowed to access these products mainly because, potentially, they are poor.”

Pynk is harnessing the brain power of 10,000 people with their predictions about the market, and a proprietary artificial intelligence (AI) called Rose to help decide how to handle your investments. Using the platform, people will input their predictions about the price of Bitcoin tomorrow.

The AI algorithm analyzes the data then informs the team on their next move. He also explained that those who invest money benefit and the profits are shared with everyone.

Rose evaluates the responses using the responder’s prediction history and various geopolitical aspects. Historical accuracy and location are the factors that AI evaluates. The AI results are incredibly accurate.

For now, the platform is solely focused on the price of Bitcoin. But it will accommodate more cryptocurrencies. For example, the team will be adding to Nasdaq composite price and gold price. Towards the end of the year, they plan predictions on the property market. Blockchain companies will be in the 2020 agenda.

Pynk will use the power of the crowd to evaluate the viability of blockchain projects. Pynk had been in business since May 2018. Although they have wanted to be regulatory compliant from the start, Barksfield said they have dealt with the challenge but they can’t reveal how without compromising their competitive edge.

 Do you think brain power from 10,000 individuals combined with AI can accurately predict the price of Bitcoin?

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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