THE FINANCIAL TRADE MARKET
The financial market of today is known for it’s dominance by few bodies. The financial market as we all know is dominated by banks, prime brokers and the big investors. This dominance has denied transparency in the global financial market.
Most of these major players have failed to take up the new technological innovations such as the Blockchain, which is well known for it’s decentralized mode of operation.
THE PROBLEM CAUSED BY DOMINANCE
The dominance exercised by these major players listed earlier, has made the market suffer many challenges. These challenges include; over reliance on brokers to manage money, unworthy brokers that lack trust and integrity, lack of liquidity, insufficient pricing, absence of peer to peer trading and insufficient settlement and payment.
Other problems include the absence of a decentralized trading platform, which has made it impossible to pave way for a larger distribution of wealth and also an option for a transferable trade with brokers. This has limited the potential of the trade while increasing costs.
THINKMARKET GROUP
ThinkMarket group has proved to be a force to reckon with in the financial market with years of vast experience. The ThinkMarket group has established itself well by creating various arms namely; ThinkAffliates, ThinkPrime, ThinkInvest and TradeInterceptor.
Being in the game for a while, ThinkMarket will create a state of the art trading network that’s Blockchain based and multi asset called TradeConnect.
TRADECONNECT
The TradeConnect platform be a one-of-a-kind platform/network that will bring about individuals and institutions, thereby allowing them to trade with one another directly on a lower cost.
The ThinkMarket in order to visualize it’s decentralized trade platform, will build the TradeConnect network on a Blockchain technology. Building on a Blockchain will help create a trading ecosystem. This will help with transaction speed, maintenance of transaction database.
Furthermore, the TradeConnect will feature trade matching which will help users ease the stress of connection between market makers and market takers. Other advantages TradeConnect feature are;
a. It is stress free
b. Users are in control of their funds
c. Fast settlement not determined by the contract unlike the traditional trade system where brokers determine settlement
d. Traders trade safely through a verified contract without any alteration
Furthermore, TradeConnect will feature it’s app called TradeInterceptor. This app, will help will help provide Trade analysis. The app is another idea of TradeConnect in a bid to become a transparent mobile retail broker. Auditing and signing off trades on TradeConnect will be secured by BitGo
THINKCOIN
As the world is gradually evolving around cryptocurrency and Blockchain platforms, TradeConnect will introduce an asset-backed token called ThinkCoin (TCO). The TCO will hold values equivalent to fiat currencies such as USD and GBP. The ThinkCoin will also feature a wallet which will support other liquid cryptocurrency as collateral. Other cryptocurrency supported will include
1. Bitcoin
2. Bitcoin Cash
3. Ethereum
4. Dash
5. ThinkCoin
6. Monero
7. Litecoin
Interested participants can read more on the ThinkMarket website via www.ThinkCoin.io
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