The world’s financial market is largely dominated by banks and other financial institutions which are disadvantageous in many ways:
- They are centralized: This means that financial history is stored in a centralized storage which is susceptible to hacks, virus and other forms of cyber-attacks.
- Transactions or settlements of trade can take days to complete.
- Transaction costs can be very high.
- There are intermediaries (brokers) who are needed to trade successfully. This is cost implicating and makes trade more complicated.
- Traders’ funds are not in their control.
There comes the Tradeconnect which uses a great innovation to disrupt the financial market with the feature of multiple asset trading.
TradeConnect is a multi-asset blockchain-based exchange that will allow investors to trade a wide range of financial products such as cryptocurrencies, equities, FX, commodities and more.
With Tradeconnect investors and traders can trade multiple assets from cryptocurrencies to equities, to foreign exchange (Forex or FX), commodities, etc. on an exchange that is built on the blockchain.
Wow, this is the first I am seeing this kind of concept. Truth be told I have seen centralized exchanges that trade commodities, assets and just bitcoin as the only cryptocurrency. But then they are still centralized with many disadvantages as mentioned above.
On the other hand, Tradeconnect uses the blockchain technology in a way that has never been seen with traditional cryptocurrency exchanges. Traditional cryptocurrency exchanges only deal with cryptocurrencies but trade connect will merge two seemingly parallel universes: the cryptocurrency exchange and the commodities, assets, Forex trades. This will disrupt both markets setting a record that has never been in view.
The goal is to become the largest multi-asset blockchain based trading network. Tradeconnect has a long-standing record as a financial trading platform.
The Growth Story
They have been in business since 2010 as Thinkforex based in New Zealand which has the goal of improving forex trading. They were awarded the UK Forex Award for the best customer service and fastest growing Forex Broker in 2012. In the year 2013 with much expansion over the years and improving their services, they were awarded the World Finance Award for the best new Broker and best Broker. In 2014, they were awarded Forex Best Awards 2014 Fx street Award. From 2015 to 2017, they had expanded with the launch of ThinkPortal in 2015, ThinkAffiliate in 2016, Acquisition of Trade-Interception, the launch of ThinkInvest and they were awarded the best Forex Trading Experience, Best Forex Trading Innovation UK Forex in 2017.
This should make readers understand that Tradeconnect is a long-standing award-winning company with great service for years since their launch.
Trading on the Platform
Artificial intelligence on the platform automatically matches buyers and sellers who wish to buy and sell the same volume or amount.
The platform matches multiple sellers of lower quantity with a buyer who wishes to buy a very large equivalent quantity.
Friends Network Match
A trader can wish to have a closed-door trade with his friends on the network.
This includes the participation of Tradeconnect, ThinkMarket, or other brokers to provide liquidity to the market.
Advantages of Trading with Tradeconnect
- Tradeconnect removes all intermediaries and allows individuals and institutions to trade directly.
- Trading on the platform lowers connect fee.
- Users experience a faster service in contrast to the traditional financial trading markets.
- On the platform there is much transparency as operating on the blockchain means that transactions history are visible to all, and cannot be altered.
- Participants also get to be able to trade a wider range of assets from the cryptocurrencies to commodities, assets, Forex, etc.
- Participants’ funds stay with the participants and in their control.
Tradeconnect will support the most liquid cryptocurrencies like Bitcoin, Bitcoin Cash, Etherium, Dash, Monero, Litecoin, and Thinkcoin.
Thinkcoin is to be used to trade financial products. Only Thinkcoin holders will be able to trade on the Tradeconnect network.
For further information on Tradeconnect, you can Visit:
All images source: Whitepaper
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