Summary of Thinkcoin Whitepaper
SUMMARY
OF A WHITEPAPER ABOUT THINKCOIN
The ThinkMarket
group is launching a new platform of multi-asset trade. This platform, referred
to as “TradeConnect” will specialize in forex trade, sales of equities, and
major cryptocurrencies around the world. This method by estimation will not
only disrupt the market provided by banks for equity trades, which as argued by
ThinkMarket are non-transparent, unfair, slow, and inflexible, but also make
these sales available on the Blockchain trade network.
The ThinkMarket
group being a well-established organization that specializes in Forex Trade and
retail trade; It has achieved a great feat over the years with plenty awards
from by the UK Forex and World Finance Awards as the best customer service and
fastest growing Forex Broker. It also partnered with Equinix to launch one of
the fastest trade co-location in the world. These achievements make ThinkMarket
the best organization to implement the proposed platform.
TradeConnect
allows individuals or institutions to trade directly in a stable environment
with lower cost and faster speed (it eliminates the need for brokers and other
intermediaries needed for transactions). These trades which will be carried out
on the Blockchain technology will introduce a new currency tagged “ThinkCoin”
which will make the transactions on the platform easy and fair to all the
populace. This currency can be exchanged with both hard currencies like the US
Dollar and the Chinese Yen, and cryptocurrencies (BitCoin, Etherum etc.). In
other to launch this new currency, the ThinkMarket group will be making an
Initial Coin Offering (ICO) to the population by giving out 500million
ThinkCoins in which one ThinkCoin equates 0.30usd based on commission. The
funds acquired from the ICO will be used to acquire new users and develop the
matching engine (which will expand the range of the trade).
The market
structure is proposed; derivative trade is adopted (this is a type of trade
where two contracting parties agree that one will lose and the other will win
so that the price of an underlying product will either increase or decrease).
This allows traders to buy or sell for either long term or short term. The
estimated market size is estimated to be over 1.2 quadrillion USD. The
TradeConnect network combines the speed in transaction provided by BlockChain
platform and the various equities, forex cryptocurrency markets available on
other off-chain network thereby producing an indeed large market opportunity
for its users. The market has a market neutral token economy, the platform gets
a particular token from each transaction referred to as the connect fee (the
connect fee is 25% from each transaction) and is most felt by the transaction
takers (participants that trade with the price offered on the network). The
connect fee is used to manage the network and fund ongoing development.
Participants have the ability to lend ThinkCoins which have not been available
in their wallets. The matching of buyers and sellers will be done based on
digital personas which has been acquired by the TradeConnect group over the
years of trading.
In conclusion,
TradeConnect provides measurable transactional volume, better fund-control,
multiple assets readable on the blockchain market, and liquidity. It is however
important to note that there are risks to the proposed platform some of which
include security (hackers may have access to TradeConnect), fundraising target
failure, volatility of TCO due to volatility of digital currencies, loss of
personal information links to TradeConnect amidst others.
Check out their ANN page here and their website here
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