Say goodbye to traditional investment brokers and instead say hello to AiX. AiX is a blockchain and fintech startup that’s caused quite a stir among competitors in the marketplace as it uses AI to boost its services and reduce commissions by as much as 95%.
The artificial intelligence (AI) will completely eliminate the need for a human broker when it comes to price discovery as it can do a more accurate job. And that’s not the only benefit of having an AI broker over a human one. It’s also far more cost effective too.
“The investment bank trading floor has changed immeasurably over my 26 years in banking,” said Steve Compton, AiX derivatives specialist. “The transition from voice to electronic trading has been fully released in some markets, but the historical model of interdealer brokerage remains widely prevalent.
It’s time to transform that model with AI, and AiX is bringing the technology to do just that. Implementing a platform founded on blockchain will bring full transparency to the trade negotiation process through the use of a ledger, whilst substantially reducing costs for all market participants.”
READ MORE – 10 Applications of Machine Learning in Finance
READ MORE – What is Machine Learning? All You Need to Know
To ensure that regulatory requirements are adhered to, KYC and AML information will be recorded on the blockchain. Each and every trade will have to write an Evidence Tree to be added to the blockchain that provides a complete audit trail of all the information used in which to carry out the trade.
As well as playing a part in the negotiation and execution of trades, AiX will also be brokering cryptocurrencies. “Cryptocurrencies recently roared past $300 billion in market capitalisation. While that amount still only equates to a rounding error in global financial markets, investors and traders are starting to take notice,” commented former broker Jos Evans, and now founder and CEO of AiX.
“With the support and guidance of experienced, innovation-minded advisors such as Steve, AiX will be enabling best execution in cryptocurrencies and traditional financial markets. Doing so will allow cross-market trades using the simplest of interfaces, a chatbot. Most importantly, we will use AI to optimise every trade.”
AI and cryptocurrencies go hand in hand but blockchain technology is essential for merging the two. AiX has found a way to do just that and that reason alone makes is a pioneer in its field.
