6X: 1M Users In 100 Countries Through Months of Hard Work And AI-Based Analysis of Sentiments

Unlike others, Singapore-based 6X did not stay a crypto exchange. The team expanded to trading in digital assets and added, hence the result: 6X is currently Asia’s largest digital assets trading platform. Our Chief Editor talked to Vanessa Koh, 6X Vice President:

(Q) You went a long way from a major crypto exchange to an AI-based digital assets trading platform. What did this transformation involve, how did it go?

It took months of collecting trading data across the global crypto economy
We ran multiple test sites together to battle test our ai. It was a massive overhaul to put the trust in the hands of the ai. We went from a single team to multiple teams in 8 different countries. We are still a long way from fully automated ai.

(Q) What new classes of digital assets do you trade now? Which ones are most popular?

BCB (a smart city initiative). Stable coin backed by USD, therefore has low volatility.

(Q) Did it take an effort to teach traders in these new digital assets? How was the learning curve?

Yes, blockchain is a new technology. Decentralisation is a big word and it takes a huge effort to teach it to the common traders. We would like to repeatedly emphasize more on safety and security. Digital tokens that are lost are often unretrievable.

Depending on the business model, there can be many different types of digital tokens. Some much higher risk than others.

(Q) Let’s talk about your unique value proposition, use of AI in trading. Tell us, how does it work? What does it do exactly? What did you achieve with help of AI? What further uses of AI in your line of work do you envisage? How will people change when AI comes everywhere?

Now AI trading systems is fostering a second wave of innovation. AI is used on our exchange to monitor fraudulent and unusual activities that can be used to manipulate price action. It continuously learns to read new unusual patterns that may emerge from time to time to ensure that we provide the safest trading exchange for our customers.

AI can also be used to connect exchanges to minimize the spreads and improve the fills for customers.

Crypto trading is being influenced by AI and machine learning through the anlaysis of sentiments. Sentiment analysis can be gathered from blogs, comments, social media posts, even video transcription to work out the market’s “feelings” regarding a topic — to determine if it is positive, neutral or negative.

(Q) You do 2mln transactions per second, how big is your client base? how did you manage to attract that many? Any marketing secrets you can share?

6x.com is a leading digital asset trading exchange based in Singapore. 6x.com was launched in early 2018 and within nine months, 6x.com achieved the following:

Over 1 million users in more than 100 countries

US$200 million daily transactions on the platform

200 employees working in Singapore, Philippines, Thailand, Taiwan and China

Ability to support 2 million transactions-per-second and accommodate 20 million concurrent users

One of the top 20 digital asset exchanges worldwide

6x.com is available in English, Chinese and Thai

(Q) What is your corporate target?

Bringing blockchain technology global. Working with government bodies to systemise these digital assets. Integrated and accessible digital asset exchange across South East Asia providing the traders an easy place to trade digital assets.

(Q) What further plans digital assets do you plan to include in the 6x trading platform?

Securities, Trading Post, more Professional Financial services

(Q) Your assessment on the market cap of digital assets in the near future, mid term and long term?

Short Term (1-12 months): Financial institutions trying their hand in the digital assets market and getting burnt – staying between 150b – 250b

Mid Term (2-3 years): Regulations, replacement as small ipo 2T-5T

Long Term (4+ years): Integrated into the stock market

Vanessa Koh is a Techpreneur and a start-up specialist, who partners with C-Suite Executives to engineer the best customer-centric products and delivers multimillion dollar revenues.

With a passion in technology and experience with digital assets, including cryptocurrency, she is instrumental in leading a team to create an easy-to-use platform for cryptocurrency exchange that breaks performance barriers. Having started four technology start-up companies since 2010, she recruited and mentored the brightest talents around Asia and worked with partners in Southeast Asia like SAAS Infrastructure, Software and Web Applications Development, Enterprise Resource Planning Systems, Smart Contract, blockchain and cryptocurrency communities.