Indexing data for a future where our finances are closely tied to our information streams.
We’re overwhelmed with data. The problem is particularly evident in the chaotic world of cryptocurrency and blockchain development. There are telegram groups abuzz with the latest information, calls from faceless influencers, discord groups, crypto-twitter, Reddit, and blogs.
With the data we consume so closely tied to the financial decisions we make, how can we be sure that our newsfeeds are credible and written by people with a good track record?
Everyone will tell you the space moves too fast to keep up with. That’s opened up opportunities for credible research agencies to try and bring real value. But still, most of us are getting a good amount of our information from Twitter, discord, and telegram. The problem isn’t that the data streams are all bad — far from it — there’s a huge amount of brilliant analysts out there sharing their insights for free. The issue is credibly sorting the wheat from the chaff, trying to bring some signal to the noise. That’s where signally comes in.
Signally.finance makes sense of the noise surrounding crypto and blockchain. Right now, the app indexes ‘calls’ which have been made by influencers on Twitter, taking a 365-day view of each influencer it looks at. If an influencer made a call about a particular asset, signally indexes it. When was the call made? What was the price of the asset at the time? What was the price a week later? Two weeks later? Was the influencer accurate? Is the influencer making consistently good calls? Signally is already figuring this all out in real-time, and at scale, providing a useful summary back to the user. What we’re left with is a constantly updated leaderboard of who’s making the most sense in the realms of crypto. We can see how many calls an influencer made, when, and what the theoretical returns are based on purchasing $100 of the asset for each call that was made.
Already, this is pretty useful, but we’re only scratching the surface of what’s possible. When we start to make better sense of readily available data, then the insights we can glean begin to compound. The data itself is what’s profitable. From this data alone, we’re able to find and index ethereum addresses that anonymously broadcast excellent financial data. Sometimes the best financial data is coming from the quietest places — its information which signally is bringing to the surface.
With so much information available to us, where signally is useful is that it is reading and testing information on behalf of its users. At the heart of signally is an algorithm, designed to be used at scale, that’s able to discover and test a data stream for its usefulness. The data it’s gathering is only part of the value; users can action that information by automatically trading it.
In the future, our finances will become more intertwined with algorithms & trustless function calls and we’ll have much more autonomy over our finances than previous generations. In such a future, the data we engage with will inform our finances, so this will be where the real value is. Data is the difference between good investment returns and an avoidable high-risk capitulation. But the data alone isn’t enough — so signally will soon be implementing data trading, allowing users to take a profitable & tested data stream, and trade it automatically. Our job will be to find, curate, test, and index the most reliable and profitable sources of data online and use the intelligence we gather to create even more valuable insights. Data streams shared by users will be backtested, and if proven to be profitable, those users will be rewarded. As the quality of signally’s data continues to grow, so too will the value of the token which provides access to it.
Twitter is just the start, there are news articles, forums, and blockchain addresses that silently leave a digital paper trail from which real intelligence can be drawn. These disparate sources are being combined into singular profitable streams. Cryptocurrency just happens to be the most logical place to start, but stocks, funds, and even sports are crying out for a similar service.
As we move into a decentralized financial future, what we need are actionable, automatable, and intelligent data streams. Signally creates them for all token holders. And with trustless swap functions already here, it will implement a trustless decentralized ‘money lego’ trading functionality — all fueled by the signally token. The future of finance will be very closely tied to the future of data, so it's time we make sure the information we’re engaging with is really serving us.
token: (not available yet) https://etherscan.io/token/0xd17ec58d1f1a78eae7339220fe5ebe2cb6d16f94