Mirocana: Combining AI and the Blockchain for Transparent Investing
Mirocana is set to launch a series of three financial prediction products, based on deep-learning neural nets, with the announcement of its token, MIRO. With the ability to collect, store and analyze huge volumes of financial data, Mirocana’s system will be able to produce predictions for stock, currency and crypto-currency markets.
Many projects have incorporated AI predictions, but Mirocana is breaking the mold by creating a web platform for transparent financial products. By using machine learning models to predict a variety of financial markets, Mirocana aims to revolutionize how investors take advantage of ‘big data.’
Led by George Petrov, Founder, CEO, and Senior Data Scientist, the Canada-based Mirocana team has been hard at work on their algorithm which pulls data from a large array of trading platforms to be able to predict newly placed trades by traders with a history of success. By sifting through this data, Mirocana’s systems are able to backtest many thousands of strategies and identify those that have potential going forward.
Mr. Petrov has personally spearheaded the coding project, and developed its strategy for finding winning trades:
“First of all we receive quotes and market data from our data sources, and some strategies are only based on quotes, and these strategies could be applied to many financial instruments along many timeframes. Some of them have a few hundred lines of code, while others have thousands. For example, If the price goes up sequentially for three periods of time, we generate a prediction to buy, thinking that the price will continue this trend.”
The new token, known as MIRO, is set to go on presale on October 19 (starting 12:00 GMT), with a public crowdsale scheduled for one month later, on November 19. MIRO token is used to access Mirocana Investment Products but also can be used by the system to encourage talented community members to contribute their knowledge and code to increase the accuracy of Mirocana predictions.
As an ERC20 token on Ethereum‘s blockchain with a total issuance of 200 million units, 65 percent of the total will be offered during the pre-sale and public phases of the sale. Mirocana has also committed to beginning exchange trading within one month of their offering, leaving investors with a relatively short lock-up period. MIRO will be initially offered at the rate of 0.001 ETH per MIRO.
Mirocana’s team of engineers and data scientists have already spent a year working on the problem of predicting the markets as a data science question. While competitors such as AIcoin and Compcoin are also working on solving these data science questions, Mirocana has a significant differentiator; at present, most traditional trading risk management systems use third-party software to write and backtest their strategies and are therefore limited by that software.
By writing all code from scratch, Mirocana has developed their own engine to backtest strategies and run simulations. This allows them to scale their system quickly and unlocks a multitude of new and exciting experiments.
As users flock to the product, and with the Mirocana team continually improving their algorithm’s quality, they expect the limited supply of tokens to create substantial growth of value, which makes them even more appealing to purchase. Investors can benefit by using the platform to help develop their trading strategies or take advantage of the growth of the system, and the increasing value of their tokens.