Avoiding “information flood” as a crypto investor
Having access to a comprehensive, reliable and rapid source of information is a fundamental part of the decision-making process in cryptocurrency investing. But in today’s crypto landscape, there’s no information without misinformation. Rumours and conflicting or manipulated information can significantly influence the purchase and sale of cryptocurrency for numerous investors.
As observed by reporters Ryan Mac and Jane Lytvynenko, crypto market is “ the perfect environment in which to proliferate misinformation; it’s mercurial, confusing, and full of uneducated, overeager traders hoping to strike it rich.” Here are some of the common traps awaiting for an “overeager” investor.
Today, the vast majority of those with internet access have an access to a seemingly endless stream of information. With the development of the digital world and the increasing “datafication” of our society, information is becoming more and more immediately accessible to every individual.
Crypto news and commentary are accessible through exchange platforms, social media, specialized print media, television programs, groups of influencers, word of mouth and more. It’s not the accessibility of information that poses the challenge, it’s reliability.
An increase in misinformation
As we’re being flooded with data every day, investors will inevitably encounter difficulties with cross-referencing sources and analysing content to select reliable information and weed out fake news.
The internet is playing an increasingly essential and multifaceted role in our lives, serving as a source of news, but also a key marketing channel for endless products and services. When are we being informed, and when are we being sold to?
The rise of social networking sites favouring interaction between web users in an often anonymous manner contributes to an ever-increasing amount of (mis)information, where the authors themselves as well as their agenda and trustworthiness remains unknown. John MacAfee’s Twitter hacking drama showed how a few tweets can sway the markets in a matter of minutes.
In short, inappropriate handling of information is bound to negatively affect your investments. Overexposure to information will result in an alteration in decision-making and a decline in investment performance, be it due to misinformation of a simple overwhelm. Information encountered about investments needs to be sufficient without becoming overwhelming, as well as easy and practical to use.
So how to maintain an appropriate level of knowledge and comprehension around cryptocurrency?
Although the crypto space is seemingly filled with “helpful” bots, their abilities are limited. They’re often confined to one channel, such as Messenger, Slack or Telegram and follow primitive predefined commands, lacking an ability to understand and interpret natural human language or analyse and select the most reliable information available.
That’s why we have designed the first intelligent personal assistant who can accompany you in the daily management of cryptocurrency information. Based on IBM Watson, one of the most reliable artificial intelligences in the market, Daneel offers daily assistance in the world of cryptocurrency. Daneel will keep you informed in real time, with quality information which are gathered and analysed by itself
In a world with an endless amount of information sources, determining the fully reliable sources is extremely complex. We are currently banding together superior experts of the blockchain sector, specialized journalists, and technology veterans to create a landscape of different informational references.
To provide the requisite intelligence to the service, we’ll be continuously working on perfecting the algorithm developed during the prototype design. Our objective is to consider all flows of information and provide the user with intelligently curated, fully reliable and relevant information to the user.
Would you like to join us on the quest to bring sophisticated data intelligence into the crypto jungle? Join our website and ICO and keep up to date with our progress.