The bank and other major financial institutions around the world control the majority of our financial dealing/transactions. Giving them the monopolistic influence over financial assets and price asset. That is to say, they now determine financial transaction fee/charges, time and processing of transactions. And in all this most of them are never transparent. But the growing success of the latest digital technology known as BLOCKCHAIN, whose operations is transparent, high security, time efficient, error resistant, low in transaction charge/fee and most importantly operate a decentralized system has led to so many bodies (companies, government, industries etc.) exploring its potential adoption to replace/upgrade their old system. This same wave gave birth to a project called TRADECONNECT.
TradeConnect is a decentralized (blockchain-based) multi-asset exchange that will allow investors to trade different financial products such as cryptocurrencies, equities, FX, commodities etc. The aim of TradeConnect is to disrupt a market dominated and unduly influenced by banks, prime brokers etc., using the latest trading technology. And also creating diverse opportunities to become the leading blockchain-based multi-asset trading network, trading a wider range of financial products not found on traditional crypto exchanges.
WHAT TRADECONNECT IS REALLY ABOUT
The idea/project of Tradeconnect was put together by a team of experienced, award-winning companies called the ThinkMarkets group (TradeInterceptor, ThinkPrime, ThinkAffiliates and ThinkInvest). All working together as a single unit to achieve a common vision of creating a cutting-edge new multi-asset trading network that will disrupt and democratize trading. And the primary goal of the project is to become the world’s largest multi-asset blockchain-based trading network. ThinkMarkets is a licensed financial services company in the UK and Australia which brings more than a decade of experience, a history of innovation and a strong portfolio of intellectual property to use on the TradeConnect network.
A BREAKTHROUGH IN FINANCIAL PRODUCT TRADING
Derivatives are financial contracts whose value is based on an agreed-upon underlying asset (stocks, indices, commodities, currencies, exchange rates, or the rate of interest). Profits are made by betting on the future value of the underlying asset. So, their value is derived from that of the underlying asset. Technology has helped reveal the loopholes in the derivative trading market and Tradeconnect has come up with solutions to this challenges.
Inefficient settlement and payment: There has always been a recurrent issue of payment Settlement of trades. There are many cases where financial institutions have collapsed when they were not able to settle their funds, and individuals have lost their money. TradeConnect network conduct it trades on the blockchain(which operation success dates back from 2008 till date) and also uses its own token (Thinkcoin) as a method of settlement, thereby solving this challenge.
Lack of transferability: Most trades with a broker are not transferable. This because the contract terms are written solely between the client and the broker, Making it harder for traders to transfer positions or trades and reduces flexibility. Tradeconnect trading technology will change that by allowing users to trade with other users (peer to peer trading) on the network and transfer their positions at any time.
No peer-to-peer trading: The trading world is currently dominated by brokers and counterparties with whom individuals are required to open an account with to start trading. The marketplace has been limited to just the client and the broker due to the absent peer to peer technology. TradeConnect will allow trading between individuals, eliminating the need to use a broker.
Brief Summary of solutions Tradeconnect Network Offers
After registration participants are expected to lock an amount into an ethereum trading contract to begin trading.A Market Maker establishes an off-chain trade transaction and offers it to other participants and signs it with their private key. The trade is then propagated off-chain to potential counterparties. when the offer to trade is accepted by the Counterparties, they both sign an off-chain contract with their private keys, and the contract to trade is generated. The contract would then be determined by an oracle – such as an independent price feed – to determine the results of the trade. The result is finally made available and submitted to the blockchain along with the transaction, and payment occurs through the blockchain automatically.
TOKEN /ICO INFORMATION
Thinkcoin(TCO) is the official token to be used in Tradeconnect Network. It is a single cryptocurrency designed exclusively for financial asset trading and investment on the Tradeconnect Network. It gives it user’s access to the platforms trading products (Currencies (FX), Equities, Precious Metals, Commodities, and cryptocurrencies) and other services. TCO can be acquired during and after its ICO period by exchanging fiat currency and other cryptocurrencies.
Pre-ICO will take place from 3rd of April to 14th of May.Below is the ICO summary;
Project Name: Tradeconnect Network
Token: Thinkcoin (TCO)
Total supply: 500 million TCO
Token Released for ICO: 300,000,000 TCO (60% released)
First Stage Pre ICO Offer: 3rd April – 23rd April: $0.21 USD
Second Stage Pre ICO Offer: 24th April – 14th May: $0.25 USD
ICO Offer: 15th May – 25th May 0.30 USD
Blockchain: Ethereum ERC-20
SOFT CAP: 5,000,000 USD
HARD CAP : 30,000,000 USD
Accepted Payment Medium: ETH, BTC, BCH, LTC, USD
Remaining token after pre-ICO and ICO stage would be burnt in other to maintain distribution.
After going through the layout plan for this project(team vision, operation principles,transparency,innovations,futuristic plans etc) and also considering the experience of the team involved,i will strongly recommend Tradeconnect to investors, lovers of cryptocurrency and financial product trading because it carries the potential to be the largest all-around financial product/ cryptocurrency trading platform.
visit the following link for more information and new updates;
Bitcointalk ANN Thread Link:https://bitcointalk.org/index.php?topic=3077146.0 Website: https://www.thinkcoin.io/
Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=1910183