Finance is a complex, difficult and often risky business. There are a number of players at work within the world of finance who are entirely prepared to ignore rules and laws to get their own way, engaging in fraud and unethical practices. UK-based financial tech company SPECTRE.ai have noticed this tendency, and is turning to blockchain and virtual reality (VR) in an effort to curb it.
Blockchain and cryptocurrency has been in the news fairly regularly of late, reflecting its status as a growing area in technology and finance. SPECTRE.ai have seen this rise, and have responded by adding cryptocurrency expert and VR engineer Scott Driscoll to its board advisors. This has allowed SPECTRE.ai to begin to add VR to its trading platform.
The CEO of SPECTRE.ai, Karan Khemani commented: “The installed base of HTC Vive, Sony PS VR, Oculus and other VR headsets is only moving in one direction: up! this represents an ideal opportunity to convert live OHLC candlestick data into 3d objects in 3d landscapes and allow traders to trade with a new level of immersion and feel for the market. Tie this to Spectre.ai’s broker-less technology and bring in social trading and it’s a slam dunk for traders.”
The plan for SPECTRE.ai’s trading platform is to offer a comprehensive 3D map of current market trends, along with predictions and charts, which can be viewed in VR for a more complete picture of the direction of the various markets, potentially offering crucial warning of any upcoming problems. The platform also offers algorithms that can spot risky trading behaviour and issue warnings to prevent disasters before they occur.
Oto Suvari, the group’s R&D director explained “Any trader will know that your standard issue web-trader offers 2d multi time frame charts which offer no depth in trading. You’ll be looking at a 5 minute chart and expecting the price to bounce off a flat, northern bollinger-band boundary hoping to buy some at the nearest moving average. However, without painstakingly zooming out to larger time frames to see where a more reliable moving average or support level may rest further below, the trader really isn’t presented with all information they need to make a reliable trading decision. In a VR scenario, the trader can literally fly over to this boundary and look down a giant 3d cliff, immediately identifying all the moving averages below him/her through time, instantly. As the experience is immersive, the trader’s body will be able to sense and feel depth as well forcing them to look before leaping!”
VRFocus will continue to report on new innovations in VR technology.
via Mint VR