AlphaBlock, a Romanian AI company that builds investment management solutions for pension funds, family offices, and hedge funds, has been selected in the final of fintech competition from NOCASH Gala.
The company will be represented by Andrei Nagy (photo), Co-Founder & COO at AlphaBlock.
„AlphaBlock allows General AI predictive processes to be fused into the blockchain block, transforming the blockchain into a multi-purpose predictive tool which self-builds, self-protects, and self-validates. AlphaBlock becomes the essence of everything linked with data predictability, evolving into an intelligence layer on the blockchain and the web. It is a predictive ecosystem which blurs the distinction between financial and non-financial data – ultimately removing barriers between financial and services markets.”, Andrei says.
„The blockchain can achieve this evolved state and become an intelligent market state if it crosses three key hurdles: First, it securitizes blockchain assets and creates new alternative assets and asset classes. Second, it resolves the incapability of conventional finance to understand risk effectively and enhances return per unit of risk (outperform the market) using a General AI process. Third, it must offer a better mechanism to address currency risk than what is offered by the existing fiat currencies and cryptocurrencies.”, Andrei added.
Alphablock has recently raised an undisclosed amount from Real Ventures, a Canadian early-stage venture capital firm. The investment brings the startup’s valuation to $15 million, according to EU Startups.
AlphaBlock is building an ecosystem to boost the distribution of cross-domain intelligent algorithmic processes by offering them an innovative smart contract technology which is zero knowledge, low cost, secure and works across multiple domains like cybersecurity, advertising, telecom, and retail.
The company’s vision is the fusion between the Internet and blockchain in order to become an integrated marketplace. Simply put, a company’s data and processes can be listed, validated and become intelligent through the AI processes developed by the AlphaBlock team.
In 2016, as part of the first MIT Fintech Program program, AlphaBlock was named as one of the Top 50 Fintech Capstone Projects.
AlphaBlock currently operates in India, Canada, the US and Europe. The research and development center is situated in Cluj Napoca, Romania. The company has a listed solution on Nasdaq and plans to use the investment to further enhance its product line for multiple market scenarios for global markets.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
