A major development from Pipster – ready for launch. Are you ready?
This week, development on a major feature of the Pipster app was effectively completed. Our Social Sentiment Indicator (SSI): A real-time data-analysis tool which scans through publicly shared social media posts and uses machine learning to provide a simple hot/cold indicator for Bitcoin trading.
We’re extremely excited about it and proud to announce that the SSI will be fully functional for Pipster’s launch later this Summer.
Work on this project has been ongoing since Pipster was first created. Our Japanese sister company Finatext, has a massive profile in Japan for a number of reasons. Big-data and leading-edge applications for it have established the business as a forerunner in the Fintech industry explosion. Continuing with this approach, Pipster required a brand-new and bespoke set of tools employing big-data and simple UI solutions.
What does it do? We’ll let Ryan answer this one.
“The SSI tool effectively scrapes the global public sentiment of literally thousands of posts across social media feeds every hour. With applied machine-learning we can assess the public opinion of whether the community feels positive or negative, relating to Bitcoin.. Given that cryptocurrency awareness and sometimes investment is predominantly driven by social interaction at the moment, this sentiment is a great way to see the trend of online thoughts.”
“By plugging this live data stream into the AI, we’re able to analyse the posts for their sentiment on buying and selling Bitcoin. The totals are processed, aggregated and then realised as a simple trading indicator on the Pipster app. Making it as clear as possible what sort of trend the community expects. It’s really powerful and there’s nothing else out there quite like it.”
Introducing: Ryan Ong (pictured) …you can almost hear the music coming through the page.
Miss-World Style Bio
Ryan is from sunny Malaysia. He studied in Bath before moving to London. Working with Pipster since December ‘17. When he’s not carb-loading for the gym he’s playing music through his headphones so loud, it once woke up Elvis.
Ryan’s an Aquarius, loves Korean BBQ (and enjoys long walks along the riverside). He admires self-made business moguls and would some day like to be considered one himself.
Future ambitions include meeting his business idols and becoming the Malaysian Adonis. He’s not far off.
Months were spent testing the AI algorithms and tracking the trading rates for Bitcoin, to help draw the patterns and correlations. It’s been truly fascinating, watching the machine-learning at work. Refining the data before its fed in to the indicator and giving a clear signal, anyone can understand at-a-glance. We hope the community finds it as useful as we think it will be.
“One of the toughest parts of making it all happen was deploying it all to the cloud. AWS can have quite a few limitations and as usual for these things, there was a lot of bug-fixing to do. It just took dedication, patience and more bug-fixing. So much bug-fixing.”
“We’re extremely proud of the team’s work on this. The goal for this project was to provide the users of Pipster a unique feature which helps to provide a guiding light on trading Bitcoin. Crypto can be infamously volatile and unpredictable, making trading for newcomers pretty scary. By using this indicator, as well as the other support tools provided in the Pipster app, we believe that users will have more confidence and more successful Bitcoin trades.”
Our CEO, Rob.
Queen Mary Trading and Investment Society
As well as Ryan and the Finatext team working on this product – We were lucky enough to collaborate with the QMTIS – Queen Mary trading and investment society, who got involved in various aspects of bringing this product to life. We hope to see more from this collaboration and others like it in the future.
Development Will Be Ongoing
The work isn’t over yet though. We’ll be continuing development improving the SSI as we progress and with the community’s feedback. There will also be upcoming projects for developing new web applications for Pipster and further enhancing our users’ trading experience.
Preview the SSI now! Go to www.getpipster.com/social-sentiment to see it in action.
Keep watching this space!
The Pipster team