Because crypto trades 24/7 and information can be posted anywhere – including Twitter or blog posts – it can be difficult for traders to keep up, a Capital One Services patent says. (Jer123 / Shutterstock)
Capital One Services, which deals in credit cards and auto loans, says uses AI technology for “analyzing [the] credibility of cryptocurrency-related information.”
Humans face barely surmountable obstacles and pressures when they trade crypto, the filing states.
The market runs 24/7 and it requires investors to know the intricacies and nuances of very distinct protocols as well as watch out for events such as airdrops, forks or hacks that come streaming in from multiple sources including Twitter, Medium posts and , the content of which cannot always be readily verified.
“It would be impossible for human traders to track all of the above-mentioned cryptocurrency-related data and respond to that data in real-time,” the patent reads. “Further, it would also be difficult to verify the credibility of the cryptocurrency-related information in real time. In particular, it is difficult to verify the credibility of speculation, rumors, opinions and other information posted on social media and elsewhere.”