Dr. Ulli span of the audience, co-founder, Managing Director and CEO of Sowa Labs, talked with BTC-ECHO. Sowa Labs is working on the Mobile application BISON to make the trade with crypto currencies to the masses. In cooperation with Boerse Stuttgart, it is an attempt to present to the German audience the crypto-trade is user-friendly. BISON uses, among other things, Artificial intelligence (AI).
How did you come to Sowa Labs and how to Sowa Labs came to BISON?
Dr. Ulli span of the audience, the co-founder, MD and CEO of Sowa Labs
My founding partner with Sowa Labs I’ve met in 2010 on an EU research project. We have worked together on Algorithms that evaluate extract from Internet News and social media information to support investment decisions and automated. As an Economist, I had little experience and contact with artificial intelligence and self-learning systems. For my co-founder it was exactly the opposite: they had hardly any points of contact with the world of Finance. In this respect, it was a perfect Match, we just had to reasons.
The idea of BISON was then on the contact and cooperation with the Stuttgart stock exchange, which dealt with the subject of crypto-currencies.
“We want to currencies of the buying and selling of Crypto as easy as possible”
What need did you see in the market and how your trying to respond to that?
In the case of Sowa Labs we have been working on since the end of 2014 with the crypto market. First of all, we were interested in currencies, the data analysis, Crypto, since in the network a lot about the topic of spoken and speculated. We have found that the market is very intransparent and only for a technology-oriented audience. Solutions, offering a straightforward way in the crypto world, there’s not a quasi. And, although crypto-currencies and the underlying technologies are exciting, even for a broad mass audience.
That is exactly why we develop BISON: We want to offer anyone Interested an easy and user-friendly access to the crypto market. Complicated technical processes or lengthy registration procedures, there will be no more. The user can simply download the App, register, create an account or connect and let’s go. The complicated Rest to us.
The Bison has user control over his Private Keys?
We would like to currencies, the buying and selling of Crypto as easy as possible. To a wide customers range, we decrease the technical hurdle to a Minimum. BISON takes care, therefore, to the creation and safe custody of crypto-Wallets. The customers are no Private Keys available. The custody of crypto-currencies is also in BISON. A withdrawal to your own Wallet will not be possible at a later time, but as the primary function being considered. Our focus is on as an uncomplicated Act.
You use an AI for your crypto radar – how does the AI, the mood of the market to capture?
Sowa Labs comes from the area of Predictive Data Analytics. Since years, we deal with Data – and Text-Mining and self-learning systems. Our specially created AI for the crypto radar every day, nearly two million Tweets under the microscope. These are then filtered according to different criteria and edited. At the end of about 250,000 Tweets remain, from which we Buzz and Sentiment-calculate indicators. Our systems actually read any of these Tweets and rate it positive, negative, or neutral in relation to the relevant crypto-currency. So a certain degree of market sentiment. Twitter is particularly well-suited as a medium of information for the crypto market, because almost all of the relevant information in a matter of seconds to be shared.
“BISON will comply with all applicable laws and obligations”
What are the biggest challenges in the development of the App?
We want to offer with BISON, an App that works easily, safely and reliably. If the customer has no complicated technical barriers must be overcome by us. This makes the development is not always easy, for example with a view to the safe custody for the customer.
We bring the App to the German market, is also not trivial: the BISON will comply with all applicable laws and obligations, in order to offer customers maximum safety and reliability.
Do you already have plans how to do it after the Launch in September?
Definitely! BISON will continue to develop. For one, we want to expand the universe of tradable crypto currencies. This is not easy, because you have to take into account the technology behind each currency for safekeeping. Furthermore, we are planning to start a BISON in other European countries. In addition to the German-speaking countries, we find Scandinavia, and the Benelux countries exciting. Finally, we extend the Features in BISON permanent. We want to give our customers even more decision support for the investment in crypto-currencies, for example, over well-prepared Information and a suitable Alerting.