Strategic investing looks a lot different than it did just a decade ago. New and more powerful technologies have made some approaches obsolete while elevating the importance of things like computer algorithms and digital platforms. As The Wall Street Journal wrote last spring, “The quants run Wall Street now.”
Since the start of 2017, cryptocurrencies are further altering the investment landscape by making it more diverse and creating lucrative markets where none previously existed.
Crypto markets are an increasingly compelling opportunity for all types of investors. Individuals are captivated by the intrigue of new digital tokens, and they are encouraged by the potential for more robust returns than through any other investment medium. Even institutional investors are beginning to forge a path into crypto markets.
Regulated Bitcoin futures contracts offered by Chicago-based exchanges CME and Cboe are a compelling investment opportunity that are beginning to pick up steam. Even banking giant Goldman Sachs is said to be getting in on the crypto action.
However, despite their popularity, crypto markets remain uniquely unpredictable. They are frequently characterized by wild price swings that can feel random and violent. Trading cryptocurrencies can be a daunting experience for the uninitiated.
What’s more, slow transaction speeds with high fees are a hindrance to more robust blockchain adoption that can further proliferate such markets.
In other words, while cryptocurrencies are exciting and progressively popular, their capabilities often leave much to be desired.
Now a new platform powered by a forward-thinking digital token is offering solutions that can enhance the future of financial markets.
ThinkCoin Powers the Platform of the Future
ThinkCoin, a new digital token on the Ethereum network, presents a tangible solution to problems related to asset trading, blockchain speed, and cost efficiency. This TCO token powers TradeConnect, a soon to launch blockchain-based financial asset trading platform.
Although TradeConnect is an early-stage platform, it’s ready to offer FX and CFD trading upon its launch. As it continues to advance, the exchange will provide trading options for commodities, derivatives, options, bonds, and other products. In total, TradeConnect will provide an outlet for trading any financial asset in the world using blockchain technology.
In a nod to the transformative power of the blockchain, TradeConnect eliminates the need for brokers or intermediaries in the investment process. Using built-in blockchain tools like smart contracts and tokenized value exchanges, interested investors are connected directly with willing sellers. This makes the investment process cheaper and more efficient for everyone. Rather than charging commissions, the platform is maintained by connection fees, which are based on the type of trading product, and those terms are laid out in the predetermined smart contract.
If the last decade has taught us anything, it’s that large financial institutions are fraught with challenges and their outsized, centralized nature doesn’t do them any favors. With TradeConnect, investors always maintain control of their money, and they aren’t burdened by substantial fees or commissions that typically accompany the use of a big bank.
The platform’s wallet will accept several of the most popular digital currencies including bitcoin, bitcoin cash, ether, dash, litecoin, and monero. To ensure speed and flexibility, all trades are processed off the blockchain, but those records are later uploaded to the chain where they remain immutable, auditable, and secure. This will make the process more efficient so that users can focus on making wise investments, not on the viability of their technology.
All of this is enabled by the ThinkCoin digital token, which is currently in presale and has a public ICO starting in May. A demonstration version of the TradeConnect app is available now in the Apple and Google Play app store.
Financial markets are quickly changing to adjust to new technologies and new investor proclivities. This comprehensive ecosystem is diverse and digital, and new platforms are helping it to thrive. ThinkCoin is emblematic of the broad investment priorities dominating the market. Things like smart contracts, p2p connections, and robust payment represent a bright foray into the financial future.
Bank of Korea Seeks to Deploy Blockchain in Bond Market: Report
Global central banks are increasingly looking at blockchain technology as a tool to make interbanking processes more efficient and transparent.
Following the World Bank’s exemplary experience of blockchain bond transactions, South Korea’s central bank is working on its own blockchain-based bonds, Cointelegraph Korea reports Feb. 18.
Bank of Korea started the project in late 2019
According to a report by local publication Yonhap Infomax, the Bank of Korea has been seeking a blockchain services provider in order to build a blockchain bond system that would allow distribution of the bond records among all participants.
The Bank of Korea reportedly launched a Proof of Concept (PoC) project in late 2019 in order to move bond transaction records that are currently maintained by the Korea Securities Depository to a blockchain-powered base of records accessible by multiple nodes.
South Korea’s central bank to evaluate blockchain’s capabilities in speeding up transactions
The blockchain bond project would involve separate nodes operated by South Korea’s regulatory authority, the Korea Fair Trade Commission, the Bank of Korea and other financial institutions, the report notes.
A local official reportedly confirmed that the South Korea’s financial authorities have been testing the potential of blockchain in terms of issuing state bonds to record transactions:
“We are using government bonds to record securities and cash transactions in a distributed ledger and test whether a real-time simultaneous payment trading system is possible.”
According to Yonhap Infomax, the Bank of Korea’s blockchain research regarding the bond market is being conducted with reference to the purported first-ever blockchain bond transaction handled by the World Bank and the Commonwealth Bank of Australia back in 2018.
As reported by Cointelegraph, the World Bank raised a total of $74 million for its two-year blockchain bond as of August 2019. According to the bank, the bond is the first to be created, allocated, transferred and managed throughout its life cycle using distributed ledger technology.
Regarding the Bank of Korea, South Korea’s central bank announced in late 2019 that it will be setting up a dedicated group to research central bank digital currency in 2020.
Blockchain technology helps China cope up with Coronavirus
Transparency, as well as privacy, are two crucial pillars that need to be respected during times of distress. With almost 1,770 fatalities in China, over 70,000 total cases reported, at press time, China has turned to blockchain-based solutions to not only fight the crisis.
In the latest development, blockchain technology has been aiding the Chinese government and medical agencies without compromising privacy while simultaneously providing transparency as it fights the epidemic.
According to the latest reports from People’s Daily, at least 20 blockchain-powered applications have been launched from 1st-14th February in the Coronavirus-hit China to fight the growing challenges.
The report further elaborated,
“Personal information management is a major area of blockchain application. As more people return to work this month, apps and platforms based on ID information are being launched.”
From managing health records, ensuring interoperability to keeping personal information encrypted in blockchain-based cloud servers, this technology has been deployed in numerous cases since the epidemic broke out.
In Jinan, Shandong Province, blockchain technology was used in the official daily updates to make information in the platform ” tamper-proof and traceable” in a bid to achieve a precise collection of epidemic data and eliminate rumors.
Moreover, Henry Ma, chief information officer at Tencent-backed online lender WeBank, had reportedly said,
“The cross-border, financial blockchain services platform can play a bigger role, and help medium and small-sized enterprises improve the efficiency and convenience of getting export trade financing and other financial credit support”
According to reports from South China Morning Post [SCMP], a donation tracking platform powered by blockchain technology, called ‘Shanzong’, was launched in China in response to the inefficiencies and scandals in the distribution of funds and aids across the epidemic-stricken provinces.
India Wants to Build Blockchain Platform to Improve Electoral Process
One of the biggest surprises of the year is India’s apparently gradual road back to embracing cryptocurrencies and blockchain technology.
The country, which is the third-largest economy in the world, has held out against cryptocurrencies in the past, with the government directing commercial banks across the nation not to do business with companies in the crypto space. However, several activities across the nation have indicated that the Modi administration might be getting ready to switch its stance- even if a little bit.
India’s Arduous Voting Process
Recently, India TV News reported that the Indian Election Commission has collaborated with the Indian Institute of Technology Madras, one of the country’s top technical institutes, to develop a blockchain-based voting system that will help to increase voter turnout. According to the report, the new platform is in line with the government’s mission to help improve the integrity of elections- a problem which the government is deeply disturbed about, in ensuring free and fair elections.
Besides being the world’s third-largest economy, India is the most populous nation in the world, with 1.3 billion registered citizens. In last year’s elections, the country had 900 million eligible voters- a number that roughly represents about an eighth of the world’s total population. India’s elections have been seen by many as the largest exercise in democracy in human history.
However, the sheer number of registered voters is just one of the main problems India’s election faces. In the country, polling stations need to be set up everywhere- in the country’s rural Westward cities, the Southern coastal region, and in the jungles that form its eastern border. Every Indian citizen is expected to be within 2km of a voting station. The ambitious project means that India has an election month- unlike other countries that have just one day (or, in the most extreme cases, a couple of days).
Blockchain Will be Part of Democratic History
With the blockchain platform, however, it could all change. As the news source explained, the platform will be a two-way blockchain remote voting process that will require voters to be present at a predetermined venue. Once a vote is cast, a smart contract is executed, and the ballot will be encrypted. A blockchain hashtag is generated in this process, and candidates- along with their political parties- will get notified.
Senior Deputy Election Commissioner Sandeep Saxena also commented on the increased convenience that this platform could provide. “Suppose there is a Lok Sabha election, and a Chennai voter is in Delhi. Instead of returning to vote in his or her constituency or missing out on voting, the voter can reach a predesignated spot set up by the EC, say in Connaught Place, in a particular time window and can cast his vote,” the election commission boss explained.
As for the prospect of cryptocurrencies gaining entry into the country, the case is still being debated. The Internet and Mobile Association of India (IMAI) is currently in the midst of a legal battle with the Reserve Bank of India (RBI) over last year’s ban on banks serving crypto businesses.