Understanding blockchain technology and the cryptocurrency market requires a mindful eye, especially when traders are looking to invest. Simply looking at how Bitcoin trades or reading an ICO white paper does not cut it.
It is by taking this requirement into consideration that WatermelonBlock has crafted software to make cryptocurrency and ICO investment easier for investors, giving them a real-time assessment of the truthful perception of a product. Their technology harnesses AI and big data technology in order to create factual sentiment analysis for crypto and ICO markets.
To bring this project to life, the company partnered with IBM through IBM Watson. WatermelonBlock’s technology reads and categorizes data to determine their social influence and potential reach to the targeted market. This technology works as a tool to determine which investment opportunity to partake or pass on. By analysing huge information that would have taken weeks, months or years to undertake, WatermelonBlock’s technology gives people a means to venture into other innovations.
The WatermelonBlock platform provides insights into the cryptocurrency world within just seconds. How? WatermelonBlock’s platform gets a snapshot of the market by scanning the internet and social media sources to collect data. WatermelonBlock then analyzes the information in real-time, using IBM Watson’s AI technology. After evaluating the information, a percentage score is then computed – the Melon Score. The Melon Score determines the sentiment of the market, particular currency or ICO. As a result of the efficiency of AI, collected data is accurate, free from human error and estimation. The data analysis process is faster and less tedious. The accuracy levels of the data produced secures investor confidence, helping them to make more informed investment decisions regarding certain coins or ICOs.
Putting it in perspective
The recent scam at the star-studded Centratech hype that led to investors losing up to $32 million describes aptly why a lack of intuitive and deep analysis can go wrong real quick. Centratech showed unmet potential and promises for a great return on investments. The project was even endorsed by celebrities like DJ Khaled and Floyd Mayweather. A proposed partnership with Visa or MasterCard was even claimed to be in the pipeline – allegedly allowing customers to use cryptocurrency as they would use fiat funds. However, these promises did not materialize. Unbeknownst to many, the founders were plotting a scam behind the scenes. Centratech went to extreme lengths to hide the scam. The shock of the Centratech scam wouldn’t have been so shocking if sentiment analysis and WatermelonBlock’s technology were in the picture. By reading the voice of the market, WatermelonBlock can warn investors of Centratech-esque scams, helping investors to evaluate projects against the pulse of the market, and make better decisions.
Hundreds of scams happening today involving ICOs can become a thing of the past with WatermelonBlock. With its availability, investors can no longer lose lifetime savings by trusting the wrong projects based on choreographed hype.