MoneyGram International, Inc. (20240346584). RULES ENGINE AND METHOD FOR EVALUATING A PLURALITY OF CRYPTOCURRENCIES simplified abstract
Contents
RULES ENGINE AND METHOD FOR EVALUATING A PLURALITY OF CRYPTOCURRENCIES
Organization Name
Inventor(s)
John Mcwilliams of Dallas TX (US)
Andrew Soong of Dallas TX (US)
James Johnson of Dallas TX (US)
RULES ENGINE AND METHOD FOR EVALUATING A PLURALITY OF CRYPTOCURRENCIES - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240346584 titled 'RULES ENGINE AND METHOD FOR EVALUATING A PLURALITY OF CRYPTOCURRENCIES
- Simplified Explanation: This patent application describes a system and method for evaluating multiple cryptocurrencies by monitoring and storing volatility data from various cryptocurrency exchanges, analyzing this data to generate risk forecasts, determining transaction factors, and selecting a cryptocurrency based on these factors.
- Key Features and Innovation:
- Monitoring and storing volatility data for multiple cryptocurrency exchanges - Analyzing data to generate risk forecasts for purchasing cryptocurrencies - Determining transaction factors for selecting a cryptocurrency - Providing a systematic approach to evaluating and selecting cryptocurrencies based on risk factors
- Potential Applications:
- Investment analysis and decision-making in the cryptocurrency market - Risk management for cryptocurrency transactions - Automated cryptocurrency trading platforms
- Problems Solved:
- Lack of comprehensive risk assessment tools for cryptocurrency investments - Difficulty in selecting the most suitable cryptocurrency exchange for transactions - Inefficient manual analysis of volatility data across multiple exchanges
- Benefits:
- Enhanced risk assessment for cryptocurrency investments - Improved decision-making in cryptocurrency transactions - Streamlined process for selecting cryptocurrencies based on transaction factors
- Commercial Applications:
- "Cryptocurrency Risk Evaluation System for Investment Platforms" - This technology could be utilized by cryptocurrency investment firms, trading platforms, and individual investors to make informed decisions and mitigate risks in the volatile cryptocurrency market.
- Prior Art:
- Readers can explore existing research on cryptocurrency risk assessment tools, volatility analysis methods, and automated trading systems in the cryptocurrency industry to understand the background of this innovation.
- Frequently Updated Research:
- Stay updated on the latest trends in cryptocurrency volatility analysis, risk forecasting models, and transaction factor determination methods to enhance the effectiveness of this technology.
Questions about Cryptocurrency Risk Evaluation System: 1. How does this system improve risk assessment for cryptocurrency investments? - This system enhances risk assessment by analyzing volatility data from multiple exchanges and generating risk forecasts based on transaction factors. 2. What are the potential applications of this technology beyond cryptocurrency investments? - This technology can be applied to various financial markets for risk management and decision-making processes.
Original Abstract Submitted
a system and method is disclosed for evaluating a plurality of cryptocurrencies, the method comprising monitoring and storing volatility data for a plurality of cryptocurrency exchanges; analyzing the stored volatility data to generate one or more risk forecasts indicating risks associated with purchasing cryptocurrency through each of the cryptocurrency exchanges; determining a number of transaction factors for purchasing cryptocurrencies and selecting a cryptocurrency based on the transaction factors.
