Red Pulse is one of the upcoming cryptocurrencies platforms that offers ground-breaking research content and provides valuable insights to consumers. It makes use of game theory and artificial intelligence to provide adequate information services to financial researchers and analysts.
The platform gains popularity because it can be used to access research data that has been collected before in different segments on its portal. The platform combines data from thousands of sources to provide a more holistic view of the Chinese Cryptocurrency market.
China is a highly and massively technologically developed country with fast-moving and complex markets. Therefore, there is an overwhelming volume of information and news that penetrates from the Chinese markets.
Currently, the platform operates on China and Chinese companies.
The users of the platform comprise of professionals, analysts, researchers, investors for keeping up to date with the current news in the Chinese economy. To be eligible for the daily rewards, users can submit commentary, opinion articles, news about China’s industrial sector, companies.
What is the Red Pulse Pheonix(PHX)
Red Pulse Phoenix is a two-way cloud-based knowledge network connecting research consumers with content producers. The platform uses the blockchain technology in combination machine learning and natural language processing.
The platform allows automated matching of insightful industry experts for clients who search a vast knowledge database.
Red Pulse’s primary objective focuses on solving the information overload on the Chinese markets. It works from the principle of being a sharing economy for research with a specific focus on the Chinese capital and economy markets.
Researchers, market analysts, and industry experts contribute their information and insights on the platform. The submissions consist of a combination of natural language processors, human analysts, and machine learning algorithms. In this vein, the red pulse uses more than 4,000 meta tags to sort and categorize the information on the platform.
How Does it Work?
It is possible for consumers to access the platform and specifically request research on any topic or market sector they desire. Through the use of the natural language processing and machine learning algorithms, the request matched with a subject specialist, who will conduct the research, write the paper and deliver it to the content requestor.
Moreover, if a user contributes with research or information on the platform, Red Pulse allocates them a credibility score. This score focuses on the precision of their submission determined by the Red Pulse team.
Anyone who accesses data or information of Red Pulse will pay in PHX tokens. Users can ask any question in respects to a subject and receive an answer from many researchers that chose to be involved in that subject. Also, everyone else who decides to participate and answer a question will be rewarded with PHX tokens.
The content created on the Red Pulse platform is recorded onto the blockchain. It includes a wallet for both the user who seeks the information and the one who provides it with a timestamp. The recorded information on the blockchain cannot be changed, reuploaded or hacked.
Why Use Red Pulse?
The platform is relatively new, and it offers incentives for content creators to post their research on Chinese financial matters and companies. Red Pulse developers noted that the traditional method of delivery for research findings had been a slow manual process. The delivery of information often occurs during phone conversations or meetings between the industry clients and experts.
It is tremendously inefficient and creates circumstances such as non-existent proof of record or even conflict of interest for the financial sector.
Features of the platform
The research content is easy to access and it is categorized for different sectors, i.e., Finance, Tech and Internet, Consumer and General Macro. It comprises more than 4,000 tags that focuses on companies, topics, and sub-sectors making the research an all-in-one process.
The accuracy for the searched information its guaranteed through Red Pulse’s system who generates Credibility Score. Red Pulse determines the score from editors and readers by previous research quality, popularity, and its accuracy.
The platform upholds transparency through its publicly-verifiable record. Transparency guarantees that the research producers are adequately compensated for their content. It also builds trust between consumers and their payments are accurately directed towards the research work requested.
Core elements of the red pulse
The platform has five core elements that have been enabled by the contract functionality of the platform’s research ecosystem. These five core elements are intellectual property protection, accountability, regulatory compliance, proof of ownership and evidence of creation.
Intellectual Property Protection
• The Intellectual Property Protection applied on the platform is meant to give protection to the user-generated original content. Any content uploaded to the Red Pulse platform allocates itself with a unique hash, which matches with all the other hash keys already stored on the blockchain. Therefore, if found that the content uploaded is identical to content previously stored the content is prone to rejection. In this way, the platform avoids plagiarism content issues.
• Accountability is tackled by connecting each piece of content stored on the blockchain to a unique wallet address. So credibility can be earned by users, which is a motivation to keep a strong user reputation.
• The goal is to guarantee a publicly verifiable system of record by incentivizing consumers. Consumers must comply with all regional and international regulations relating to confidential or material non-public information. This core element is very vital to the Red Pulse team. It seeks to provide regulatory bodies with unchallengeable response records and information request that the blockchain store.
Proof of Ownership
• Proof of ownership occurs when ownership of content moves from one entity to another. Just like in a transfer of digital currency. The original creator signs the deal with their private key and specifies which wallet address the content transferred to.
Proof of Creation
• Proof of creation shows how the platform will unquestionably establish the relationship between the creator of that content and content on the platform. In Proof of Creation, a hash key is created and assigned to the generated content, which then stored on the blockchain.
How is Red Pulse different from traditional market research?
Red Pulse views traditional market research as being far too general, especially when examining a market as large and complex as China. In this light, China is the second-largest economy in the world and the foremost in buying power parity.
Red Pulse intends to combine this information and make it available through the blockchain. It does so by removing some of the blockages that exist in current research outlets.
Red Pulse is the first mover into a potentially very profitable market. Institutional investors are eager to pay for market insights and intelligence. However, concerns of AML and conflict of interest may arise in the future but this time everything is transparent on the blockchain.
Given the pace and scale of development in China’s economy, it is an excellent place to start. But it also means that that the rest of the world can create a similar platform or join the existing one.
Although Red Pulse hasn’t yet given any indication that it plans to extend its geographical scope, if its strategy succeeds in China then there is every chance it could be successful in other markets.
That said, al world leading economies will like to control such a powerful tool and it might try to get their hands on it. But whatever the outcome will be, one fact is for sure blockchain is free and safe from government and banks intervention.
Delaying a crypto ETF it only makes the whole area much stronger than the inflated current fiat currency. Also, this situation will only create more demand for crypto and it will propel it to the moon.