Numer.Ai

Numerai is a new kind of hedge fund built by a network of data scientists.

The stock market is inefficient with respect to new developments in machine learning because only a small fraction of the world's data scientists have access to its data. So we give them stock market data in its purest, most abstract form and let their machine learning algorithms discover its predictive structure. Machine learning competitions are susceptible to intentional overfitting. Numerai proposes Numeraire, a new cryptographic token that can be used in a novel auction mechanism to make overfitting economically irrational. The auction mechanism leads to equilibrium bidding behavior that reveals rational data scientists’ confidence in their models’ ability to perform well on new data. The auction mechanism also yields natural arguments for the economic value of a Numeraire token. More information can be found here: https://numer.ai/whitepaper.pdf

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