Jeong Ki-wook, founding member of TrustVerse, a major South Korean wealth management firm and former Cisco executive said in an interview with the tech-news outlet, ZDNet Korea, that he firmly believes that, with the right improvements, cryptocurrency assets, like Bitcoin and Ethereum, could become a safe haven assets in the not so distant future.
The executive also said that the current market is a volatile, and even sometimes hostile, place for some of the big investors and traders, but with the right usage of cutting-edge technology and innovative solutions, there is a significant possibility of minimizing the risk in investment in the crypto-environment.
Jeong assured that cryptocurrency has enormous potential as a safe haven asset, due to the increasing stability in the market, led by the growing adoption from merchants, highly-influential businesses, and individual users. Although cryptocurrency remains a high risk, high return asset class, the proper focus of technologies like AI are necessary to create systems like the one described by Mr. Jeong which allows investors to
“autonomously detect risk and alter the portfolio of cryptocurrencies and tokens based on the state of the market”.
Start-ups, and projects that use the advantages of AI for predicting the risk of the market and ensure investment have emerged over the years, like the Decentralized Autonomous Organization (DAO), one of the first ICOs on the Ethereum platform. Or the Ethereum-based Numerai, another not so well-known project using artificial intelligence, and data science to create a decentralized hedge fund. Sadly, the broad public has remained uninterested in this kind of systems.
by Samuel Larreal