Main Idea
WatermelonBlock wants to create a tool to empower cryptoinvestors, both professional traders, as well as beginners who would need to spend a lot of time researching the whole cryptomarket in order to get a good idea of what coins or ICOs to invest in. And as time is money, WatermelonBlock wants to simply make this process shorter and provide the traders with all of the helpful information and in the future AI market analysis, which is able to process thousands of price changes, information and news and estimate the next price movement.
Insights App
WatermelonBlock wants to create a simple mobile app which can provide simplified and unbiased cryptocurrency insights to help investor get a grasp of current cryptomarket situation. Market outlooks are obtained by scanning the internet and social media sources to gather public sentiment on the cryptocurrency market. The app will be available to the users for free in it’s simplified form, while it will be able to buy extended services and premium access with WatermelonBlock Tokens, used as the main payment method within the platform. User will be able to create his own portfolio and set up the notification system based on what information and about which cryptocurrencies he is looking for.
IBM Watson
As there are no algorithms or computers that would be able to analyze data sets as huge as WatermelonBlock wants to use in researching the cryptomarket, the developers want to benefit from one of the most sophisticated AI platforms, which is IBM Watson. Watson’s computing power allow WatermelonBlock to scan, categorize, weigh and analyze big data sets in seconds, providing real-time global sentiment insights.
The developers have noticed that a huge part in shaping the current market takes the whole community. Everyone shares their own thoughts, news and predictions and other investors and traders are heavily influenced by them, which affects the price movement of many coins.
Using social and traditional media big data sets, WatermelonBlock takes keywords, hashtags and metadata terms relating to cryptocurrencies and ICOs using a variety of social and traditional media APIs. Metrics are pulled from Reddit, Steemit, Facebook, Google, Instagram, Twitter and other media and social platforms that are reviewed every second for sentiment.
AI Trading Bot
While the primary focus at the beginning of the project is to create informational platform and analytical tools, the second phase of WatermelonBlock app includes introducing their own AI-powered Trading Bot. The WatermelonBot is an AI investment and trading tool that helps cryptocurrency investors instantly capitalize on WatermelonBlock AI formulated cryptocurrency insights, making trades on behalf of the cryptocurrency investor.
ICO Phase
The TokenSale is divided into three phases, with the first one being focused on bigger and private investors, as the minimum amount to spend is 15ETH. On July 27th, the first pre-sale will take place with the initial price being $0.116 per WMB. The main Public Sale is scheduled for August 27th. The total supply is 400 million and they plan to raise $19,000,000.
Apart from regular ICO tokensale, they will also distribute the tokens through airdrops, which have become quite popular among new projects.
They plan to release the premium version of WatermelonBlock insights app on iOS, as well as Android with the features like ICO analytics and portfolio by the end of 2018. For 2019, it is scheduled in the roadmap that they will explore the news providing features and better trading strategies, as well as their own debit card to make it easier to use the crypto in the mainstream world.
The Team
The team behind WatermelonBlock is relatively big and consists of many experienced and skilled members. As they want to provide tool for investors it’s worth noting that there are trading and analytical experts on the board with over 20 years experience in media and analytics. As IBM Watson is essential part of the project, there are also specialists and developers from IBM, responsible for artificial intelligence, natural language processing, machine learning, analytic and cognitive technologies. As the project is based on blockchain technology there is also a member from Asta, which is Australia’s largest and most well renowned Blockchain development agencies.
Final Thoughts
With the cryptocurrencies becoming more and more popular, especially as an alternative to regular investments, such tools may be very helpful for experienced traders, but especially for all of the cryptoenthusiasts who don’t have time to spend hours researching the market and various currencies. The overall impression of the project, site and whitepaper designs are quite positive, as everything gives a rather professional and well-prepared feeling.
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