Consensys 2017 witnessed the unveiling of the PRISM . The decentralized trading platform from the creators of Shapeshift (The technology that allows the exchange of crypto-currencies without needing to go through a central exchange platform).
Shapeshift has rightly identified that Crypto-Currency Exchange platforms are one of the single highest risks of the blockchain networks because a third party (i.e. the exchange) holds private keys of user's online wallets in a centralized location and conequently exposed to hacking and other online attacks.
Shapeshift has responded to this threat with the product bearing the same name that allows users to exchange cryptocurrencies without the use of a central exchange.
Now with PRISM this is taken a step further by allowing users to build an (Ether) asset backed Cryptocurrency portfolio without relying on a central exchange (i.e. decentralized exchange). It makes use of a concept called Oracles used in an Ethereum SmartContract thereby leveraging the capabilities of smart contracts to secure the integrity of the asset portfolio in a fully decentralized manner.
Currently PRISM uses Ether as its base currency but plans are in place for later this year to support Bitcoin as a base currency as well.
Now exercising my mission at my Envisioned Systems, I envision a trading robot that could be built on top of PRISM to trade cyrpto-currencies by incorporating AI capabilities resulting an automated trading of cryptocurrencies on a decentralized exchange.
What are your thoughts on this?