We all know blockchain is the future. Blockchain technology is taking over the way we buy and sell merchandise, send and receive money and even how we manage medical records. In fact, there is almost nothing it can’t do. The recently developed technology is changing our world, much like the internet did some years ago. The financial trading industry is a big part of the shift, and blockchain technology is revolutionizing this space like no other. One London-based broker has made disrupting and drastically improving the future of trading. The startup, ThinkCoin, is a network that allows traders to operate without the need for a bank and will provide simple, secure and user friendly trading with a blockchain-based mobile app.
The Problem with Financial Trading Today
The global financial market we live and breathe today is dominated by closed-door banks and other institutions. They offer zero transparency to the end users, traders are often subject to excessive fees and they put up unfair barriers that ultimately prevent many people from entering the trading market.
But what if there was a better way? What if trade settlements took seconds instead of days? What if those transactions had substantially lower fees? And what if there was a way everyone who wanted to get involved could – regardless of budget? This is where ThinkCoin comes in.
A Better Way to Trade
The blockchain-based network promises a huge range of benefits, including improved security, significantly lower fees and trade settlement in seconds. With a ‘Connect Fee’ replacing commissions, traders will be financially rewarded for participating on the network with a rebate system that will award all participants in the network according to their trading volume.
The TradeConnect solution will be significantly faster than conventional trading practices. Using a hybrid approached blockchain, trades are automatically executed through smart contracts based on external sources and impartial information, which processing is conducted off-chain for maximum speed. It’s a system that leads to trades being settled in seconds rather than day days, which means not only an improved trading experience, but also improved market liquidity. The aim is to provide a network that can keep pace with the notoriously fast movements of cryptocurrency and financial markets.
Individuals will be able to trade directly with each other, and all participants will have full control of their money at all times.
The ThinkCoin Difference
ThinkCoin is in the process of an Initial Coin Offering (ICO), giving users the opportunity to trade tokens on the TradeConnect network.
This network will allow traders to operate without the need for a bank or brokerage, and will provide ‘simple, secure and user friendly’ trading with a blockchain-based mobile app.
The network, powered by Ethereum-based trading token ThinkCoin, will allow traders to operate globally with 24/7 access to markets, and the ability to trade almost all financial products, from forex and cryptocurrencies to commodities and stocks. With a huge range of benefits for traders, ThinkCoin is promising to be the biggest shake-up of financial markets since the decades-ago arrival of electronic trading.
Who is Behind it?
ThinkCoin is the creation of serial fintech entrepreneur Nauman Anees, Co-Founder and CEO of ThinkMarkets, an award-winning multi-asset financial derivatives broker regulated in the UK and Australia.
“The ICO space is a crowded one in 2018,” he says, “so we knew we had to develop something special to cut through. That’s why the entire ThinkMarkets Group has pooled its resources, expertise, and personnel from around the world alongside an elite team of blockchain specialists to create ThinkCoin and TradeConnect. We are confident that this twin offering is going to change and disrupt trading forever.”
The TradeConnect Roadmap into the Future
ThinkCoin is currently in the second stage of a pre-ICO, which will end May 14. The ICO itself takes place from May 10 to 25.
Next month will see ThinkCoin listed on cryptocurrency exchanges, and the TradeConnect wallet will also be launched. A beta version of the network is going to go live in August, and the functionality for FX and CFD trades will be introduced in October. Further trading products are expected to be added by the beginning of next year, and the company expects that TradeConnect’s IPO will take place in the summer of 2019.
The future is here, and it lies within blockchain technology. By moving to the blockchain, those behind ThinkCoin are making a strategic move to end the dominance of big banks. The benefits are vast and include substantially lowering the costs of the network for traders, as well as providing a whole host of new features and benefits that will allow everyone to get involved in cryptocurrency.Opinions expressed here are the opinions of the author. Influencive does not endrose or review brands mentioned.