A “value discovery” platform for blockchain and cryptocurrencies, aided by a unique AI algorithm, plans to help investors make the best choices available to them in real-time, whilst avoiding dangerous mistakes. Beenews (BKBT) is based on Meta-graph Chain, a public blockchain system which includes the smart contract system.
The team says that currently there are four issues for traders looking for crypto value information: the high rate of forged projects − claimed to be 90 percent − resulting in false estimates, the lack of media neutrality which can result in misleading advice, the lack of “effective evaluation systems” for projects to be objectively assessed, and the bias of blockchain skewing evaluations, through high entry barriers and lack of understanding for casual traders.
Their white paper sets out company’s visions of being “dedicated to becoming the largest value discovery platform for blockchain and digital currencies in the world, to helping users discover the value depression and avoid investment pitfalls, and to driving the healthy development of the blockchain ecology.” In addition to this mission statement, they add that the Meta-graph Chain could be considered for use in the public blockchain for data sourcing based on blockchain technologies, meaning that it could potentially “form the tracking evaluation system for global digital assets.”
In addressing these industry shortcomings, BKBT have outlined what sets them apart from other news outlets, claiming that they deliver information to investors in “an intelligent way”, including the use of a “Digital Currency Knowledge Graph”, and a “convenient information exchange channel.” Users of the BKBT platform can customize the information that they receive based on their personal preference data, risk types and attention fields, in order to only obtain information relevant to their individual trading. The knowledge graph, based on mass data processing and a deep learning algorithm, will process data from a number of sources including blockchain, various trading platforms, information of “team creditworthiness”, market assessment, and search popularity on a daily basis. It can then quantify this data to produce knowledge graphs and CV-Ranks to directly indicate the fluctuation status of digital currencies. This CV-Rank information is anchored in the blockchain and forms the Growth Track Index (GTI). This distributed storage prevents data loss, with even the CV-Rank and GTI owners unable to edit the data, ensuring reliability and complete data sets.
Furthermore, the graph will clearly outline the interaction between key opinion leaders and more casual investors, improving information communication and aiding with decision making. BKBT also claims to have access to information about accurate target-users business, and thus can aid external developers and marketers.
The company also introduced the BKBT-Token. Platform participants can earn the token in a variety of ways, such as long-term viewing of content, content contribution, being active members of the platform community, and inviting friends and colleagues to join the platform. If users produce particularly high quality content there could be an opportunity to earn even more tokens. The total distribution of BKBT tokens will be 10 bln, with 40 percent already released in the pre-sale.
In recent news, BKBT announced a company valuation of around $200 mln, following a $20 mln A-round funding boost. It is claimed that this is the largest A-round funding “in the history of the blockchain media industry” and was reportedly achieved after one two-hour long meeting. The investment came from JRR Crypto, part of the world’s leading distributed investment banking group, JRR Crypto. A recent press release stated that “As JRR Crypto's industrial fund, JRR Capital focuses on the investment and ecological construction of high-quality blockchain projects around the world.”
In terms of product development, the team hope to complete their ‘Content Creative’ platform and launch Beenews 2.0 by July 2018, with optimization of functional models by September 2018. In addition to the aformentioned JRR Crypto, other notable early investors in BKBT include BKFUND, Waterdrip Capital and BetterFriend Fund. The platform is already available to download on Android or iOS devices.
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