Categories: CryptoNews

Mirocana Financial Artificial Intelligence: Future of Money Making

Artificial intelligence, neural nets, and robotics are on the rise. New technologies get implemented in every aspect of the human life. But does this new fancy tech really work or is it still a tale from a sci-fi movie? We can surely say some of them do. According to Bloomberg, AI and machine learning get the job done on Wall Street. The financial market is using more and more applications for managing funds and it seems AI-powered systems are the tip of the spear.

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The thing is these applications usually have narrow specialization and are in hands of big players like WorldQuant, Two Sigma or Goldman Sachs. But what if you want to increase your funds simply from your home? The Mirocana project seems like an answer. This system was designed two years ago and is constantly growing. Mirocana provides three different investment products for stock, currency and cryptocurrency markets. It is more beneficial than a service from a trader or a fund, because it turns a huge amount of data into investment prediction. Self-reinforcing AI based on neural nets and modern machine learning models sound like a great adviser.

But the trust factor is important considering new technologies. Since every idea is basically a startup nowadays, the search for something useful should be narrowed to projects with a budget and a great team. The right people developing the system will deliver an interesting product. Mirocana team is aware of that and inviting the greatest minds all over the globe to participate via crowd-sourced learning platforms. Some backers already expressed their trust in the project by providing $195,000 and $485,000 in two rounds of investments and previously the project was funded by CEO George Petrov by using the system himself.

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A profit generated by AI never sounded closer than now

The goal of every investment application is to make money. But some projects are too shady about their strategies and how their predictions are made. The main idea behind Mirocana is transparency. So how does it work? Accumulated financial data gets into simulations where hundreds of strategies are applied to it. As a result, the system gives the best performing prediction. Mirocana won’t take any funds from client’s pockets to do it. Gaining a profit cannot be considered without some risk. That’s why Mirocana provides a scale that helps to calculate the risk level for different values of target return. It shows maximum possible drawdown, profit factor, Sharpe ratio and other metrics.

A brand that looks into the future

The team behind the project is confident and looking forward to delivering great investment products. The plans are to have 350 strategies in the system and 8 billion predictions by February 2018 and 7000 strategies and 150 billion predictions by 2019. But will Mirocana face the problem of insufficient power if the interest will be huge? Scaling could be a huge bump on the long road. The team got it under control. With the help of own servers infrastructure and Mirocana Miner the system will not suffer from a deficit of computational power. By providing CPU and GPU for calculations and predictions every miner will be paid with MIRO tokens. Mirocana products are supported by these tokens, which are also distributed through Token Sale. The sale will help the project to expand the team of analysts and scientists and hire new developers. Freelancers can earn MIRO tokens by creating new strategies, models, and predictions. Token Sale will end on December 19 and customers with access will be able to start managing their funds in early 2018.

Mirocana team pushed the timeline for the projects and has already launched Currency Market product with integration to OANDA broker. The system is available for free during Token Sale. It predicts 125 currency pairs that are available with OANDA. The product will be connected to other brokers in a not too distant future, and customers will be able to choose.

The idea of having your funds managed by AI could make someone’s eyebrows raised in a simple conversation, but the big financial firms are using it for years and generating billions in revenue. Mirocana just gives a chance to acquire the cutting-edge technology to everyone.


The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

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Tags: Mirocana

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