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bitsCrunch

Vijay near BMW Museum, Munich, Germany HackerNoon Reporter: Please tell us briefly about your  background. I am the Founder & CEO of bitsCrunch, a Blockchain Analytics company that is focusing on NFTs. I have previously worked with Big German firms like Siemens and Volkswagen. I graduated Master’s degree in Electrical Engineering and Information Technology from the Technical University of Munich (TUM), Germany. I am a TEDx Speaker and a regular Keynote Speaker in International Conferences. I’m also the first Indian to be invited for a TEDx talk in Germany below 30. I was awarded as ‘Top 40 Data Scientists under 40’ in India. I was also nominated as ‘20+ Inspiring Data Scientists to be followed on LinkedIn in 2020’ by AI Time Journal from the United States. I am followed by well over 40,000 people on LinkedIn. What's your startup called? And in a sentence or two, what does it do? bitsCrunch - A Blockchain Analytics firm providing AI-enabled securing services to bolster the NFT Ecosystem, operating in Germany and in India. Bootstrapped until mid of 2021 and then closed a Seed round of 750,000$. We are more like an NFT Police. What is the origin story? bitsCrunch was founded in 2020 amidst the pandemic. Bootstrapped until mid of 2021 and then closed a Seed round of 750,000$ from notable Venture Capitalists and Angles in this space. What do you love about your team, and why are you the ones to solve this problem? We are a cross-functional team. We are data savvy. Everyone in the team are data experts with a cumulative experience of 25+ years in Data Analytics and Machine Learning. If you weren’t building your startup, what would you be doing? Since I was recognized as one of the Top 20+ Inspiring Data Scientists to be followed on LinkedIn, and also a TEDx Speaker, I would have opted for a career along these lines. At the moment, how do you measure success? What are your core metrics? We measure our success on the scale of 0 -10, protecting the provenance of the artist and the artworks. Core metrics - providing utmost security by protecting the provenance and integrity of the people/creators in the NFT ecosystem. What’s most exciting about your traction to date? We have closed partnership deals with big players like Polygon, Rarible, and Covalent. What technologies are you currently most excited about, and most worried about? And why? Most excited about the point that integrates both AI and Blockchain. Worried that people are unaware of the full potential of the Blockchain and its use-cases, they do think that Blockchain is only related to cryptocurrency and trading. What drew you to get published on HackerNoon? What do you like most about our platform? The most renowned platform for tech professionals to publish their works. With 4M+ monthly readers, we believe that we could spread the message that WE (bitsCrunch) are working on securing services using AI for the NFT space by blending our AI expertise with the Blockchain to bolster the NFT ecosystem. The way the articles are categorized and presented makes a good read on the platform. What advice would you give to the 21-year-old version of yourself? Failures are part and parcel of life. Not to worry about failures is one thing I would advise to the 21-year-old version of myself now. What is something surprising you've learned this year that your contemporaries would benefit from knowing? Contemporaries are always good for the industry. It brings in healthy competition. Orkut was there when Facebook arrived. I won’t be surprised if someone comes up with the same idea. Rather I will just focus on getting the right things at the right time. Go vote for bitsCrunch as the startup of the year, Munich.

'Contemporaries Are Always Good for the Industry': Vijay Pravin, CEO of BitsCrunch

The Rise of Crypto Analytics and Big Data , a Crypto data analysis firm focused on securing services utilizing AI to protect the NFT Ecosystem, announced it has raised $3.6 million in a private round of funding led by Animoca Brands, including Coinbase Ventures, Capital, Polygon Studios, and others. The analytics and security products provide actionable NFT insights and help users get ahead of the NFT asset  curve with an AI-powered machine learning program. bitsCrunch Crypto.com bitsCrunch is based in Munich, Germany, and has a presence in India. bitsCrunch assists individuals in making NFT buying choices by allowing them to choose which NFTs to purchase. In the previous year, the firm claims to have grown its worldwide user base by more than 8X. Its goal is to protect the environment of the NFT. Animoca Brands, the round's main investor, is a significant participant in the gamification and blockchain industries, claiming to have a portfolio of over 150 investments in NFT-related businesses and decentralized initiatives. Animoca Brands is a  leader in gaming and blockchain with a portfolio of over 150 venture investments in NFT-related firms and decentralized initiatives that contribute to the open metaverse's and web 3 development. The additional financing will be used to grow the team, which will concentrate on protecting a number of well-known blockchains. Yat Siu, the Co-founder of Animoca Brands, said: With the increasing number of non-fungible digital assets in circulation and the rise in NFT marketplaces, bitsCrunch has the potential to contribute meaningfully to the safety and security of the emerging open metaverse. Understanding The Need for Big Data in Crypto Virtual currencies are quite popular these days, and trying to stay away from memecoins like Dogecoin and Shiba Inu and stablecoins like Tether and Binance USD is difficult. However, as bitcoin becomes more popular, so do cryptocurrency crimes. The figure for crypto-based crimes more than doubled last year, reaching around US$14 billion in worldwide transactions, up from US$7.8 billion in 2020. While this increase in virtual currency crimes only accounts for 0.15 percent of all virtual currencies, it represents a 79 percent increase in fraud in this nascent market, even though cryptocurrency transactions have over quintupled (567 percent) in the last year, reaching US$15.8 trillion in 2021. Big Data is a very successful industry, with sales forecast to reach $203 billion by 2020. To put it another way, by 2030, the blockchain ledger's data might be valued up to 20% of the global Big Data market and earn up to $100 billion in yearly revenue. Blockchain-based big data tools help investors, governments, and enforcement agencies track trends and ensure compliance with international rules and regulations. Big Data and blockchain are a combination made in paradise. Today's real issue is who will be the first to develop the most appropriate and well-trained AI/machine learning model for use on top of blockchain-generated data layers that are distributed, transparent, and immutable. The company that does this will bring in a lot of money and make a lot of money. The aggregate value of the world's 50 biggest mineral mining businesses is over $700 billion. The value of blockchain-based big data mining systems will likely be in the hundreds of billions in the future. Catch all the breaking news, and Don’t forget to like the story! Image credits: and . Caden Tormey Shubham Dhage Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions. The writer holds Bitcoin, Ethereum, Cardano, Solana and Cosmos. The writer has a vested interest in the story.

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bitsCrunch

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Since n.d.

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EVERGREEN INDEX #2167

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