Please, describe briefly what BANCA achieves.
Banca – Wall Street on Blockchain. We are a team of veterans from Wall Street and Silicon Valley trying out a new type of investment banking community. We use blockchain technology facilitated by Big Data and artificial intelligence (AI) to rebuild the traditional investment banking system.
This is where our idea came from: after more than a hundred year of development on Wall Street, investment banking services have now reached the very top of the financial industry food chain. Names like Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are synonyms for global financial elite. However, the bankruptcy of Lehman Brothers - once a well-known investment bank on the street – hurled the financial world into the abyss of the 2008 crisis. The hidden fact behind this was how hard those 'too big to fail’ banks had pushed world financial resources into assets relating to the housing bubble just to serve their own interests. Their greed eventually cost taxpayers and investors trillions of dollars. Wall Street, the perennial center of the financial world, faced the greatest challenge in its history as this post-WWII American financial dream model broke down. It's hard to say with certainty that it marked the end of America’s dream to maintain its power, but it definitely sounded the alarm for the American financial system, which is in desperate need of a change. In this context, we came up with the idea of an 'investment banking community' that aims to solve the internal dilemma of traditional investment banks and become the trailblazer of a future investment banking service model.
Banca is a decentralized, intelligent investment banking community.
In order to eliminate the moral hazards associated with the centralized management of traditional investment banks, we have based the business protocol, trust mechanism, and reward system on blockchain technology. The Banca community will utilize AI and smart contracts to achieve automatic management. Since blockchain technology ensures the incorruptibility of data and smart contracts provide automation of transactions, the system can be considered highly credible, while execution and compliance costs are greatly reduced.
Who are the potential users/investors in the BANCA ecosystem?
There are many use cases of Banca’s platform when it comes to:
1) Primary market
2) Secondary market
3) OTC
4) Fundamental services
We have our seed application in each market, but more importantly, this is a social platform based on AI and Big Data. We are building a platform.
Let`s take a secondary market as an example. We have our Coin AI application, which is similar to the betterment/wealthfront model - people can use Banca’s token to get robo-advisory service on what coins to buy/sell, and it is tailored to different investor needs.
However, this is just a seed application. Our platform will attract many vendors and people. There can be other capable people or KOLs (key opinion leaders) who will get on the Banca platform.
We can do a lot on the primary market. In traditional Wall Street, you have Moodys and Standard & Poor to do the grading of companies.
Many ICO reviews are done centrally, and many pay to get a good review. Here at Banca, we want to create a transparent and credible ICO review platform. We are in the process of building a decentralized ICO review platform, using the ACM model to quantify people’s rewards and AI-based centric metric.
How does your project link traditional finance to the blockchain?
Personally, I foresee two big future trends in the world we live in.
There would be two types of investment banking. One is the traditional type, with centuries of history and a centralized structure. The other one will be running in parallel, representing a decentralized investment banking community with fair ratings and decisions made by the people. The second one what BANCA is aiming to develop to revolutionize Wall Street.
What is more suited to crypto investing - traditional experts or AI?
We use AI and expert systems to achieve dynamic and efficient automated management of the Banca ecological??? chain. Automation can overcome human weaknesses and greatly reduce the probability of errors in data collection, integration, and processing. It allows the community bank to inherit the advantages of large investment banks in terms of information and talent resources while overcoming any efficiency losses caused by excessive vertical and horizontal levels in the management of large institutions. AI has successfully replaced manpower in the management of different elements of the Internet, the operation of motor vehicles, and visual identification, among others. It will eventually become widely used in the financial field.
What is different about your AI solutions?
Technically speaking, intelligence includes two aspects:
Deep Learning and Recurrent Neural Network-Based Prediction Models:
The system predicts accurately the future movements of tokens by mining hidden information from historical transaction data and from deep behavioral records. The main goal of deep learning is to learn multi-level features and to create more abstract high-level representations by combining low-level features to discover the distributed representation of the data. By building a multi-layered Neural Network to simulate human learning processes, we hope to use the human brain's multi-layer abstraction mechanism to achieve the abstract expression of the real object or data and to integrate the feature extraction and classifier into a learning framework under.???? Deep learning structure feature is a multi-layer perceptrons with multiple hidden layers, forming more abstract high-level representation attribute categories or features by combining low-level features to find the data distributed feature representation. Multi-level abstraction is formed through bottom-up learning, and multi-level feature learning is a process that automatically intervenes without human participation.
According to the learned network structure, the system maps the input sample data to various levels of features and classifies the output units of the top level by using a classifier or a matching algorithm. For some low-level algorithms (such as neural networks with single hidden layer, support vector machines, etc. given a limited number of samples and computational elements), it is difficult for low-level structures to effectively represent complex functions, and for complex classification problems, performance and The generalization ability of the needle has obvious deficiencies, especially when the target object has a wealth of meaning. Deep learning through a network of a large number of simple neurons, the use of non-linear relationship between input and output, the complexity of the function approximation of the observed sample fitting, and in the learning of the nature of the input sample extract reflects the strong power.
Who are your competitors?
No one is yet implementing the same business model on the market. If we can further improve Banca’s functions and keep the community services abreast with the most updated technologies in AI, a mentioned procedures will continually evolve for the better. Banca shall run as an eco-system by itself.
What is the role of the native token in the BANCA ecosystem?
Banca’s decentralized investment bank community includes primary market, secondary market, and OTC crypto services. Community participants represent project side, business side, selling side, investors, and technology service providers. Among the platform’s technical advantages are blockchain technology based on a Big Data framework, risk control based on in-depth learning and a recurrent neural network, smart and effective search engines, and targeted advertising services.
Members need to pay BANCA for services provided by the community, while members who provide services or make contributions to the community will receive Banca rewards. Transactions could be used but not limited to decentralized ICO reviews, crypto research and advisory services, risk management services, smart matching between vendors and community members, advertising fees, platform fees, etc.
Anything else you would like to add to present your project better?
Special strengths that will help BANCA survive in the long term include:
1) Our team – an international assembly of experienced and dedicated professionals, veterans of Wall Street and Silicon Valley.
2) Head start – our CoinAI system is already up and running. We have already proved the system and the algorithm work very well.
3) Supporters – we are supported by people from the blockchain space including QTUM, and also large crypto exchange founders. Our backers also include key people from the Wall Street mainstream.
4) No one is doing the same business model on the market yet, and we believe there is a pressing need for a decentralized investment banking community. This is what BANCA is working towards – revolutionizing Wall Street.
This article appeared first on Cryptovest