With Jozef Stefan Institute on the topic of AI R&D
A few days ago, our team had a meeting with Mitja Jermol, Head of the Information Technology Transfer Center at Jožef Stefan Institute, where we agreed upon a concrete orientation for our work together. At this moment, a sample database is being prepared, and will be needed for the effective implementation of crypto arbitrage. The existing database will be further enriched by other data collected through various services (one of which being the Event Registry). All this is basis for choosing a way to improve the arbitrage algorithm. The role of the Jožef Stefan Institute in the development of artificial intelligence is the complete automation of the implementation of crypto arbitrage, which is currently in a semi-automated phase. That means that today, it still requires a human factor in order to set certain parameters depending on developments in the market, while in the future this will no longer be necessary. Our goal is the total automation of the crypto arbitrage.
“Full automation and upgrade of the platform and the arbitrage algorithm means that Kriptel.de will consequentially be able to accept a larger amount of funds, that is up to 10 million euros, without affecting the results. This will still yield a stable revenue between 1 and 1.5% per month, which represents 16 % annually,” says Mitja Vezovišek, Money Rebel CEO. He adds that the development will also bring an upgrade in terms of increasing the number of arbitration pairs from the current BTC-EUR to ETH-EUR, BTC-ETH, and so on. “We will implement advanced trading strategies to reach Kriptel.de PRO.”
Bureaucratic document vs. New era of banking
Directive 2015/2366. It sounds like an irrelevant bureaucratic document. But it is hardly just that, it is much more than that. It is the official number of the document that is set to change European retail banking landscape forever: Payment Services Directive 2, or in short PSD2.
PSD2 directive is a set of regulations imposed by the EU with three main objectives: to regulate all existing EU fintech projects and services already present on the market, to increase security, and to nourish innovation on that same market. All that resulting in more affordable and convenient financial services for the end users.
In order to achieve that purpose, PSD2 introduced numerous game-changing technical and legal frameworks, the most famous being the XS2A acronym: access to an account. Under this rule, all banks under the EU regulation cap are mandated to offer their basic service of a client’s transaction account (any account with IBAN) to any company licensed under the PSD2 framework, without any additional cost.
What does this mean? In short, any company that will obtain the license to act as an AISP (Account information Service Provider) or PISP (Payment Initiation Service Provider) will have the right to ask the bank, any EU bank, on behalf of their client, to access their accounts in order to obtain the account information (AISP) and even perform transactions (PISP).
Implications of this legislation will be strong across the entire EU: banks will now have to compete not only with other banks, but also with new players that are more innovative, agile and responsive to the constant shifts on the market.
Money Rebel is set to become one of those: innovative, agile and responsive to our clients’ desires. Utilizing PSD2, as well as PISP and AISP, we will enable our customers to gain a 360 view on all of their finances, including their basic account. Not only that; through our MR platform, clients will be able to make bitcoin purchases with only a few taps on their mobile device’s screen.
By helping our clients gain valuable insight and advice on their finances, our mission is exactly in line with the core values of PSD2: more affordable and convenient financial services for everyone.
With that in mind, once the PSD2 legislation becomes active on January 13th 2018, remember it as a step closer to a new era. Money Rebel era.
Meet & Greet in Tuzla
“One of the greatest reasons why I am doing this job is that unbeatable sense of satisfaction when what I create with my own hands someone ends up using in their everyday life. That is why I am pleased to work on the Money Rebel project,” said Irfan Nurkanović, head of our Bosnian development team after a “meet & greet” workshop in Tuzla.
Part of the MR team in Switzerland after new opportunities
Mitja Vezovisek and Natasa Kozlevcar, co-founders of Money Rebel, attended a conference on the topic of investment into traditional economy in Zürich. The purpose of the conference visit was to assess the interest of the Swiss market and the possibility of cooperation. Although the event was in fact a presentation of two other financial companies, it turned out that Money Rebel sparked great interest among the participants. “We found a common interest and synergy with the organizer of the event. We also made several good connections there, through which we are already arranging to expand MR to various countries through local representatives,” said Head of Sales Natasa Kozlevcar after her return from Switzerland.
It is worth mentioning that the event was attended primarily by classic investors, banks and other traditional institutions, since Money Rebel represents the majority of the two worlds — fiat and crypto.
