The Bitfury Group, a European blockchain technology, uncorked its artificial intelligent unit.
The newly-launched system will work with the existing blockchain services Bitfury has.
It is expected to add value to the current valuation of Bitfury amounting to $1 billion. Bitfury will try to contend against the formidable, premier blockchain technology companies such as Bitmain of China, and USA’s Coinbase.
The European blockchain company decided to develop artificial intelligence to help process 98% of the company’s data to yield analysis and values. Since it is technology at work, higher efficiency of data processes are expected.
The artificial intelligence unit of the company is still under development though as its products are yet to be clarified after further studies this year.
Fabrizio Del Maffeo, the former vice president and managing director of AAEON Technology Europe, is set to lead the unit as appointed by Bitfury.