The Ether Review #68?'??'"?'?Numerai, The Last Hedge Fund
Xander Dunn and Richard Craib discuss Numerai, a new kind of hedge fund built by a network of data scientists.The Numerai platform crowdsources machine learning by releasing encrypted data sets to data scientists, incentivising them to develop machine learning algorithms to analyse the data. Scientists then bid their predictions to the hedge fund by staking funds, and are paid returns in Numeraire, the platform?’?s native cryptocurrency.
By abstracting its financial data to be only machine-readable, Numerai ensures that human biases and overfitting are overcome, and that short-term and long-term returns are equally weighted.With the ultimate goal of ?’?œowning all of the money in the world?’, the Numerai hedge fund has high hopes for the future.
Source: Coin Desk