What is THINKCOIN?


What is THINKCOIN?




All information has been taken from the whitepaper and is meant for teaching. This is not an endorsement of the company or investment advice, always do your own research. 

TradeConnect is a blockchain-based exchange with many assets, allowing investors to buy and sell financial product of different range. Financial products like equities, foreign exchange, cryptocurrencies, commodities and a host of others. This network will provide a level playing ground that will allow institutions and individuals to directly trade with each other at a reduced cost. Buy and selling will be done automatically on the blockchain, while execution and recording would be carried out off-chain in a bid to provide a swift trading service.

TradeConnect aims to break the stronghold of banks, large funds, and prime brokers on the market thus giving TradeConnect a massive chance to evolve into a leading multi-asset blockchain-based trading network that will provide a platform to buy and sell other financial products that are not present in normal crypto trading. Advancement in technology has given a pathway in the delivery of better equality and transparency among all participants in the market and that is the path TradeConnect is trying to tow.

The emergence of blockchain leads to the first main chance to reduce the stronghold of banks in these markets since the invention of electronic trading in the 1980s. Foreign Exchange (FX) markets, OTC derivatives, commodities, stock, and futures markets were valued at US$542 trillion for over 6 months in 2017.

While the focus initially was on the retail trading sector, the network over time will expand into corporate and institutional derivative trading markets, and before finally spreading to a wide range of other financial sectors. Ultimately, clients will be able to buy and sell any financial product to a broker or to any one (including competitors) that uses the public blockchain – agnostic of platform.

TradeConnect’s primary objective is to grow and become the biggest multi-asset blockchain-based trading network in the world. TradeConnect will use the ThinkCoin token (TCO) to create an economy where buying and selling thrives, the TCO will be used as payment when buying and selling financial products, growing the liquidity pool in the network and scaling transactions in a bid to achieve the primary objective.

TradeConnect is releasing an Initial Coin Offering (ICO) a new custom made digital token that will underline buying and selling on the network for the ThinkCoin token (TCO). Funds raised from the sales of the ICO will be utilized mainly to get new users, expand the reach of trading products and develop a state of the art matching engine. And only traders with TCO will be able to buy and sell on the TradeConnect network.

The system security depends on oracles and trading contracts. Trading contracts will be developed by employing the best standards in the industry an open source platform with all recording done on blockchain, formally verified and auditing carried out by two external security auditors.

With many opportunities to partner with other companies that share the same ideology in a bid to add both cold and hot cryptocurrency wallets to services offered. These will give storage solutions, a situation where cryptocurrencies are stored safely on devices regardless of whether there is an internet connection or not. But before this is put into use, soft wallets will be utilized, here, an application will be used instead of hardware, and this application will act as a door into the crypto world for users.

ThinkMarkets is a financial institution that can safely keep clients’ money. This development will, therefore, make it possible for TradeConnect to introduce StableCoins – tokens that will either be pegged to fiat currencies or share their characteristics.

These could be used for buying and selling, for fiat currencies and it can be minted. Expectations are high regarding the further decrease in barriers for new users that will like to join the system as the interface is going to be more user friendly when compared to what is one ground presently.

Offline transactions are just a tip of the iceberg when the technological evolution's TradeConnect network have stored is evaluated. In the nearest future, further steps that include state channels, shards, and plasma chains will be exploited in a bid to have a better scalability that will allow multiple transactions be carried out with just one transaction on the blockchain.

The goal is to have the whole network running on different plasma chain. Within three years, the developers believe the system will be mature enough to handle both high frequency buying and selling and also handle institutional participants.

Check out their ANN page here and their website here 

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