Dr. Ulli Spankowski, co-founder, Managing Director and CEO of Sowa Labs, spoke with BTC-ECHO. Sowa Labs is working on the mobile application BISON, which is intended to make trading in crypto currencies suitable for the masses. In cooperation with Boerse Stuttgart, it is an attempt to present the crypto trade to the German public in a user-friendly way. BISON uses artificial intelligence (AI), among other things, for this purpose.
How did you get Sowa Labs and how did Sowa Labs get Bitcoin formula?
I got to know my founding partners at Sowa Labs in 2010 through an EU research project about Bitcoin formula. We worked together on algorithms that extract and automatically evaluate information from Internet news and social media to support investment decisions. As an economist, I had little experience and contact with artificial intelligence and self-learning systems. For my co-founders it was exactly the opposite: they had hardly any contact with the financial world. So it was a perfect match, we just had to start up, says onlinebetrug about Bitcoin formula.
The idea for BISON came about through contact and cooperation with the Stuttgart Stock Exchange, which also dealt with the subject of crypto currencies.
„We want to make buying and selling crypto currencies as easy as possible“.
What need did you see in the Bitcoin trader market and how do you try to respond to it?
At Sowa Labs we have been working with the Bitcoin trader market since the end of 2014. First of all, we were interested inonlinebetrug analysis on crypto currencies, because there is a lot of talk and speculation about this topic on the net. We have noticed that the market is very non-transparent and only accessible to an audience with an affinity for technology. There are virtually no solutions that open up an uncomplicated path into the crypto world. And that, although crypto currencies and the technologies behind them are exciting, also for a broad mass audience.
This is exactly why we are developing BISON: We want to offer everyone interested a simple and user-friendly access to the crypto market. There will be no more complicated technical processes or lengthy registration procedures. The user can simply download the app, register, create an account or connect and off they go. We take care of the complicated rest.
Does the Bison user have control over his private keys?
We want to make buying and selling crypto currencies as easy as possible. In order to address a wide range of customers, we reduce the technical hurdle to a minimum. BISON therefore takes care of the creation and secure storage of crypto wallets. This means that customers are not provided with private keys. The crypto currencies are also stored at BISON. Although it will be possible to pay out to your own wallet at a later date, this is not intended to be a primary function. Our focus is on acting as uncomplicated as possible.