We have recently received a few inquiries from the community about the funding of BANCA project. Based on what we have heard, we think it is necessary to make an official notice on that matter to reduce confusion ASAP.
BANCA raised QTUM and ETH in at the beginning of 2018, almost at the top of the crypto market, and has been funding all the expenses of research and development，marketing, operations and exchange listings, etc. Since then the market has dropped precipitously. Both QTUM and ETH are down huge from 2018 peak when we raised the capital, and BANCA team, being believers in the crypto world, did not convert to fiat at high point. In fact, we converted to fiat at low point after QTUM and ETH went down a lot. The actual funding obtained is MUCH MUCH LESS!
Despite this unfortunately negative environment for cryptos, we have created the BANCA platform and have delivered our main products CoinAI and CoinUltra. Down the road, we will keep improving the BANCA platform and launch more products. At the same time, we need to be wiser in deciding where to spend our limited resources.
1. After careful testing, we have concluded that the sentiment model on CoinUltra has achieved our expected level of accuracy in production. Most of the inaccuracies happen in cases of negative news, because media has a tendency to add a silver lining to every negative news. This makes it much harder for the model to understand those texts. We need to improve our model to fix that.
2. Starting recently, BANCA will share more of our thoughts by tweeting not just about our products but also news and developments that have interested us, for example, news about AI industry in general. In this way the community can learn better what we are thinking in any particular point in time.
1. Finished: Prototyping of CoinUltra beta version is finalized today, after many rounds of communications between product manager and the rest of the team.
2. In progress: Improvement of AI models. This will take the majority of our efforts towards a beta version.
3. In progress: Back-end development of web crawling. We need to add more exchanges to CoinUltra listing timer feature.
The BANCA platform serves the global cryptocurrency community. BANCA’s dynamic eco-chain uses AI and expert system that includes automatic management. The BANCA platform analyzes Big Data and delivers precise services tailored to the specific needs of our individual users.