lendingrobot
LendingRobot launches hedge fund that uses blockchain and machine learning -- with no human intervention
LendingRobot, an automated online investment-management service that calls itself a "robo-advisor," is launching a hedge fund that the company says is administered without human intervention, making use of Amazon Web Services' machine learning, compute servers and blockchain technology. Until now, the business of Seattle-based LendingRobot has been focused on helping manage investments in so-called peer-to-peer loans. In such loans, would-be borrowers too risky for banks seek loans from individuals. Companies including Lending Club and Prosper grade loan applications by risk and make them available to individual investors, most of whom spread their risk by investing small amounts in many individual loans. The investment is attractive, as it can yield 8-10 percent interest paid monthly.