Five applications of artificial intelligence on the Ubcoin marketplace
Ubcoin is an eBay-like peer-to-peer blockchain-powered marketplace that allows people to exchange real goods for cryptocurrency and vice versa. Ubcoin Market uses Artificial Intelligence technologies to moderate content, create personal recommendations, predict the price of goods, improve the quality of product images and identify suspicious ads and behavior.
The use of machine learning techniques improves user experience and makes the use of Ubcoin platform safe. Ubcoin will be part of the Ubank mobile app that is pre-installed by Samsung in 10 countries and has over 16 mln installations worldwide. You can buy Ubcoin tokens with a discount now on https://ubcoin.io/en
Ubcoin peer-to-peer marketplace bridges the gap between crypto and real worlds. On the one hand, those people who are not experienced in blockchain will be able to become crypto investors in an easy and safe manner. On the other hand, expert members of the decentralized universe will be empowered to spend their crypto wealth on real goods without converting digital coins to fiat money.
Ubcoin is developing now its own AI-based system based on deep neural networks to work automatically with millions of listings without a human factor, to minimize legal and ethical risks for the business and to improve the user experience. You can test the real Ubcoin AI-bot here: https://ubcoin.io/en/#universe
Content Moderation
On peer-to-peer marketplaces like Ubcoin Market, listings (advertisements) are created and posted by users. Among the good and legitimate listings, some can be posted by scammers. So, the moderation of advertisements is needed. Artificial intelligence system moderates the content quicker, cheaper and with a better quality in comparison with the manual check made by employees.
First, the AI system solves legal risks for the business – there can be seller advertisements that do not comply with the requirements of law. For instance, advertisements for drugs, weapons, pornography, etc. The system detects it by the text or image and immediately blocks it or sends it to an employee to double check.
Second, the AI system solves ethical risks: it blocks materials containing toxic comments, racism or discrimination.
Price forecasting
It is important for a seller on a p2p marketplace to set an optimal price to sell goods quickly but at the same time with the maximum profit. And in order to fix the price, he does manual market research, which requires a lot of time. Ubcoin artificial intelligence system does market analysis and recommends the optimal price of goods to sellers.
It also shows sellers the predicted level of interest of buyers depending on different prices. And it tells buyers whether the price of one or another seller listing is optimal or not. It makes both seller and buyer experiences more pleasant and efficient.
Personal Recommendations
Personal recommendations are needed to create an environment where users spend more time on the platform and buy more.
To do that the system analyses the user behavior and ads that the user viewed or posted, builds a predictive model and shows to him in the first place listings that can be interesting and relevant to him.
Improving Quality of Photographic Content
The image quality of the product affects the level of sales in marketplaces. Often large manufacturers and experienced sellers have the advantage of being able to create high-quality content. However, smaller sellers are often limited by the quality of their cameras on mobile phones.
To improve the quality of photos uploaded by users, Ubcoin Market team implements Super Resolution technology. After a listing is created by a user, the image is automatically sent to the artificial intelligence module, where it is processed by the neural network to improve the image quality.
Identifying Suspicious Ads and Behaviour
Scammers can post ads that don’t comply with the rules of the marketplace itself. For instance, scammers can duplicate some other people’s ads changing a few details or contacts. Or there can be a user who posts multiple ads from different accounts. Some ads may be classified as “suspicious”.
For example, if a specific type or category of goods on the market costs on average $100, but something from this category is listed for $10, it will be called suspicious. System notices that and stops this behavior.
Ubcoin Artificial Intelligence System is created under the supervision of the Chief AI Officer Kirill Kosolapov. You can watch an interview with him here: https://www.youtube.com/watch?v=_HQ_lokV1Us
About Ubcoin Market
Ubcoin Market is a global peer-to-peer platform that is designed to bring 200 mln new investors to crypto. Ubcoin will be part of the Ubank app, the leading mobile payments app in Eastern Europe. Ubank has been working since 2009 and, as of today, has 2.5 million active users, more than 16 million downloads around the world, and has been pre-installed by Samsung and Fly.
In July 2018 Ubank announced that it started the partnership with LG Electronics about having Ubank available for LG users. Ubcoin is currently conducting a public token sale and has raised several million dollars from private investors and some undisclosed amount from institutional ones – the Inventure fund and the Singapore-based Amereus fund. You can buy Ubcoin tokens with a discount now on https://ubcoin.io/en
