Five Applications of Artificial Intelligence on The Ubcoin Marketplace

The Ubcoin Marketplace

Ubcoin is an eBay-like peer-to-peer marketplace that relies on blockchain technology, allowing real-world products to be exchanged for cryptocurrency and vice versa. Ubcoin Market uses artificial intelligence technologies to moderate content, make personal recommendations, predict the price of goods, improve the quality of product images, and identify suspicious ads and behaviors.

The use of machine learning techniques improves the user experience and ensures the use of the Ubcoin platform. Ubcoin will be a part of the Ubank Mobile App, preinstalled by Samsung in 10 countries and with over 16 million installations worldwide. You can now buy Ubcoin tokens at https://ubcoin.io/en.

Ubcoin’s peer-to-peer marketplace bridges the gap between crypto and real worlds. On the one hand, those who do not have Blockchain experience can easily and securely become crypto investors. On the other hand, experts in the decentralized universe are empowered to spend their crypto wealth on real goods without converting digital coins into paper money.

Ubcoin is now developing its own AI-based system, based on deep neural networks, to automatically work with millions of listings without human intervention to minimize legal and ethical risks to the business and improve the user experience. You can test the real Ubcoin AI bot here.

Content Moderation

On peer-to-peer marketplaces like Ubcoin Market, lists (ads) are created and posted by users. This gives rise to the possibility that among the good and legitimate ads, some can be posted by scammers. As a result, the moderation of all advertisements is required. Artificial Intelligence moderates content faster, cheaper, and with better quality compared to manual review by employees.

  1. The AI system solves legal risks for the company – there may be selling advertising that does not comply with legal requirements. For example, advertising for drugs, weapons, pornography, etc. The system recognizes it by the text or image and immediately blocks it or sends it to an employee to check it out.
  2. The AI system solves ethical risks: It blocks materials that contain harsh comments, racism or discrimination.

Price Forecasts

For a seller on a P2P marketplace, it is important to set an optimal price to sell goods quickly and simultaneously with the maximum profit. And to set the price, he does a manual market research that takes a lot of time. The Ubcoin Artificial Intelligence System conducts market analysis and recommends the optimal price of goods to the sellers.

It also shows the sellers the predicted interest of buyers depending on different prices. And it tells the buyers whether the price of one or the other seller list is optimal or not. It makes both seller and buyer experiences more enjoyable 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 this, the system analyzes the user behavior and the ads that the user has seen or posted, creates a predictive model, and primarily shows him lists that may be interesting and relevant to him.

Improving the Quality of Photographic Content

The image quality of the product strongly influences the sales level in marketplaces. Often, large manufacturers and experienced salespeople have the advantage of creating 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’s team implements super-resolution technology. After an entry 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 image quality.

Identify Suspicious Ads and Behavior

Scammers can place ads that do not conform to marketplace rules. For example, scammers can duplicate other people’s ads, changing a few details or contacts. Or there may be a user who publishes multiple ads from different accounts.

Some ads can be classified as “suspicious”. For example, if a particular type or category of goods in the market costs on average $ 100, but something from that category is listed for $ 10, it is considered suspicious. The system notices this and stops this behavior outrightly.

Ubcoin Artificial Intelligence System is being created under the supervision of Chief AI Officer Kirill Kosolapov. You can view his interview here.

About Ubcoin Market

Ubcoin Market is a global peer-to-peer platform designed to bring 200 million new investors to the market. Ubcoin will be a part of the Ubank App, the leading app for mobile payments in Eastern Europe. Ubank has been working since 2009 and 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 has partnered with LG Electronics to make Ubank available to LG users. Ubcoin is currently conducting a public token sale and has raised several million dollars from private investors and some unnamed funds from institutional investors – the Inventure Fund and the Singapore-based Amereus Fund. You can now buy Ubcoin tokens at https://ubcoin.io/en .

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.