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Information on Bit Monster and the Goals for Further Development

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Bit Monster is a UK fund that creates profits with the running of FX trading and arbitrage. It is all about bit coins. As a financial company, Bit Monster has been trading in the market since the early 2000s.

Dealer in foreign exchange market

This company has become a dealer in the foreign exchange market. When first started, the main transactions were by telephone. But, internet trading has progressively become faster so that 5 years after establishment, the monthly volume of transaction has risen to over 3 million dollars.

New trading style

This was when a new trading style became known. This trading that is known for extremely-high-speed; incorporated an algorithm referred to as HFT and became mainstream. Currently, market is changing from ultra-fast trading to trading by artificial intelligence.

Artificial intelligence

When setting up the company BITELLER, it was decided to quit using the foreign exchange market for the future and instead developed a platform combining artificial intelligence and finance to connect individuals and companies all over the world.

Cryto-currency technology

Also at this time, the company started cryto-currency technology and pushed the introduction of this technology to security companies for securities to exist with encryption currency and real money.

Goal

This company’s goal is to become the global leader in internet technology and finance by using bitcoins. They want to develop a business that is needed by all people all over the world.

Possibilities

It is believed that there is an extensive assortment of possibilities for artificial intelligent applications in the financial industry. There is a credit risk analysis that can be said to be the very backbone of financial institution such as:

  • Securities
  • Banks
  • Insurance

These all have been statistically analyzed and patterns developed and these patterns matched historical rules of thumb.

Use as

This can be utilized not only for data of daily deposits and withdrawals of money for bank accounts of individuals, but also SNS and history of purchases at EC sites for decisions on credit.

Business hours – no more

Financing until now could be only handled within the business hours for these typesof financial institutions, but with the implementation of artificial intelligenceit will enable complete automation for financing any time.

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