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AI for secure cryptocurrency exchange using Machine Learning
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CASE STUDY: AI for secure cryptocurrency exchange using Machine learning tools

Company: Coinbase is a digital wallet and exchange platform based in San Francisco. The platform has been used by over 20 million merchants and consumers for cryptocurrency trading, worth over $150 billion since 2012. The cryptocurrency market has been growing faster than ever. Like all financial services companies, the company aims to provide a seamless experience for consumers in a secure environment.  They used Machine learning tools to develop AI to secure the crypto exchanges.

Challenge: Identifying fraud is one of the biggest challenges for a cryptocurrency exchange. Coinbase needed to secure its applications and integrate Artificial intelligence (AI) using machine learning tools from AWS.

Solution: Coinbase uses the Amazon SageMaker tool to develop a machine learning-driven system that recognizes mismatches and anomalies in sources of user identification. It enables them to take action against the potential source of fraud quickly. Sagemaker is a machine learning tool to build, train and deploy these models easily. Coinbase uses SageMaker to develop machine learning algorithms for image analysis to defeat scammers.

Result: SegaMaker with AI helps us to balance risks for Coinbase. Face identification enables us to identify scammers. The insight from building anti-fraud algorithms also allows the exchange to tailor the experience based on user types.

Read the entire case study here.

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