Numerai is a crowd-sourced hedge fund where the position trades are determined by AI. The AI models are fueled by a network of independent data scientists who can earn profit when making an improvement. The model uses anonymized data which should minimize the risk of personal projections and overfitting.
Numerai: About the Platform
Numerai is a hedge fund where the trading decisions are made solely by AI. The model is improved by contributions from a community of independent data scientists who can download data feed from Numerai for free and improve on the existing preditiction models.
The user improvements are then submitted to a weekly competition where the authors can earn prizes in USD and the Numerai native token Numeraire.
The innovative technology approach of Numerai lies in its use of structure-preserving encryption - data about financial markets are anonymized which prevents biases and overfitting, but as the structure of changes and relationships is kept, it still makes machine learning possible.
Why structure-preserving encryption
Numerai claims the stock market is somewhat inefficient with respect to new developments in machine learning because only a tiny fraction of the global machine learning talent has access to its data.
Structure-preserving encryption was developed as a way to make expensive datasets available to everyone but only for the purpose of feeding a machine learning model, without revealing the full raw data.
In the first month of operations, Numerai users uploaded 10,292 prediction sets — a total of 200,098,002 equity price predictions, which is how the overall Numerai prediction model improves.
Numerai: Token Promotion & Results
Numerai was funded through private placements in 2016. It raised 7.5 MM USD in total from Union Square Ventures, Fred Ehrsam and others.
The official Twitter account @numerai has raked up about 15k followers and as of October 2018 is starting to gain new traction after a plateau:
This new surge in popularity is related to the release of the Numerai marketplace called Erasure early in October 2018.
Erasure is a new decentralized data marketplace. It allows anybody to upload predictions, stake them with cryptocurrency, build a track record that everyone can verify, and earn money.
- Read more on the Numerai blog: An Unstoppable Predictions Marketplace — Introducing Erasure
The Numeraire Token
Numerai deployed its own platform token first in June 2017. It is called Numeraire ($NMR) and is an Ethereum ERC20 token.
As of October 2018, the NMR token trades on Bittrex, Upbit and DDEX.
The Business Intelligence for Numerai
Numerai was created by South African technologist Richard Craib in October 2015 as Numerai, LLC with headquarters at 101 California, Suite 3125, San Francisco, CA 94111, United States.
Notable partners and supporters of Numerai:
- Fred Ehrsam, Co-Founder of Coinbase
- Joey Krug, Co-founder of Augur
- Olaf Carlson-Wee, Founder of Polychain Capital
- Juan Benet, Founder of Protocol Labs (IPFS and Filecoin)
- Fred Wilson, Founder of Union Square Ventures
- Howard Morgan, Co-Founder of Renaissance Technologies and First Round Capital
Investing in Numerai
Data scientists can download the current Numerai dataset provided from the website and take part in weekly competition.
Documents archived for Numerai
Data is beautiful
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