Blockchain-based robotic marketplace Tradingene appoints Boris Kim who could help with Asian business
Tradingene has appointed Qiwi Plc’s Boris Kim to its advisory board.
Tradingene is the first blockchain-based marketplace of trading algorithms. The company provides a blockchain-based auction platform for the creation and use of algorithms to trade in cryptocurrency and “the most popular financial instruments”.
The company aims to “make algorithmic trading accessible, transplant and equitable”. It states it provides investors access to high-quality trading algorithms, as well as providing algorithm creators with access to investors at fair prices.”
It has appointed Boris Kim, Chairman of Qiwi Plc., a Russian payment service, to its advisory board in the hope the company will benefit from his vast experience of both Russian and Asian markets.
Kim has been Chairmen of Qiwi Plc since 2014 and has been Director since 2013.
Tradingene CEO Daniel Wolfe has stated: “Boris is an entrepreneur with over 18 years of experience in the payment services industry and we are delighted that he has decided to join our team to provide advice at this significant time for trading gene.”
Next month, the company will issue an ICO.
Kim has states of his appointment: “With Tradingene’s technology, I see a tremendous opportunity in this new sector and I hope that I can add my strong business values so that the team can capitalise on these growth prospects. I am excited to be on board and part of a great team which is set to create a whole new marketplace”.
Kim promised to offer experience of Asian markets, but with many Asian countries having placed bans and restrictions on cryptocurrency and ICOs, it will be interesting to see how Tradingene can impact the Asian market.
Wolfe has commented: “Further to the appointment of Boris Kim, we have added Tomoya Suzuki, the world-renowned machine learning expert, to demonstrate Tradingene’s commitment to building its business in Asia.”
He added of the company’s Asian ambitions: “More Asian algorithm creators will be added to our platform and we anticipate working closely with Asian investors who wish to take advantage of the power of trading algorithms. In March, Senior Management will be holding live trading events in Seoul, Bangkok, Shanghai, Tokyo and Hong Kong. We look forward to meeting with potential partners and investors then.”
Beyond Limits: Cognitive AI in APAC
Courtesy of current estimates, it looks like Asia-Pacific AI will be worth US$136bn by 2025. Its governments and corporations invest more money than the rest of the world in AI tech, the data of its citizens is considered fair game, and its pilots are small-scale and, as a result, ruthlessly effective. This is why, according to Jeff Olson, Cognizant’s Associate Vice President for Projects, AI and Analytics, Digital Business and Technology, the APAC region ‘is right on the edge of an AI explosion’.
Now, startup Beyond Limits is pushing the boundaries of what AI can do, mirroring humans in its ability to find solutions with even limited information. As of this July, it’s partnered up with Mitsui, a global trading and investment company, to expand its impact in APAC.
How Does Beyond Limits Work?
Most AI companies claim that they can help businesses make better decisions. But many need astoundingly large stores of data to feed their information-hungry algorithms. Beyond Limits, in contrast, takes a different tack. Perfect data, after all, is largely a pipe dream kept alive by PhD students. In reality, systems must often make decisions from small, incomplete sets of intel.
But Beyond Limits’ AI is no black box. ‘When little to no data is available, Beyond Limits symbolic technologies rely on deductive, inductive, and abductive reasoning capabilities’, explained Clare Walker, Industry Analyst at Frost & Sullivan. While making these leaps in logic, however, the system also keeps track, ensuring that humans can review the AI’s ‘thought process’.
Why Partner With Mitsui?
Beyond Limits is built for specific applications such as energy, utilities, and healthcare—but lacks the extensive industry network of Mitsui. Partnering allows Beyond Limits to access a portfolio of firms specialising in minerals and metals, energy, infrastructure, and chemicals. ‘We’ve been working on this deal for several years’, said Mitsui’s Deputy General Manager Hiroki Tanabe. ‘Mitsui’s global portfolio and Beyond Limits’ AI technology will...deliver impact’.
In the first test of that dramatic statement, Liquified Natural Gas (LNG) will soon deploy Beyond Limits’ new system. If everything goes according to plan, LNG will optimise how it extracts and refines energy, making money for both itself and investors—including Mitsui. This, in fact, is Mitsui’s strategy: go digital and don’t look back.
Why Does This Matter?
Forty-five percent of Asia-Pacific companies surveyed in Cognizant’s thought leadership ebook consider themselves AI leaders. Positivity bias, that oh-so-common tendency of humans to position themselves as above average as compared to others, strikes again. (Most small companies fail to launch successful AI projects on their own.) And partly, this is because firms fail to integrate AI with industry expertise.
‘A large part of the focus on talent for AI today has been getting the people who are strong in mathematics, AI, and technologies’, said Olson. ‘But where you make your money out of AI projects is when you apply them to your business’. In short: APAC nations looking for ways to bridge the gap might follow Beyond Limits and Mitsui’s playbook—coupling startup AI with a corporate network.