For far too long, banks, investment companies, and big money have had all of the control over trading markets and what the retail trader is allowed to do. What if there could be a way for retail investors to trade with each other safely without the use of middlemen taking commissions? ThinkCoin is aiming to do just that.
What is ThinkCoin?
ThinkCoin is a blockchain based, multi-asset trading platform. Users will be able to trade cryptocurrencies like you could on other exchanges such as Binance or Bittrex. What sets the ThinkCoin project and TradeConnect apart is the abilty to trade forex, equities, commodities and other types of financial assets. ThinkCoin is the token that powers the TradeConnect network, so users of the network must be ThinkCoin owners. Along with asset safety and user security, one of the main focuses for the team with be governmental compliance. When it comes to trading equities and other government regelated assets, compliance is essential to keep users out of trouble with their local authorities.
Who is behind this project?
The brains behind TradeConnect and ThinkCoin is the TradeMarkets group. They have spent the last decade coming up with new ways to approach trading and financial markets. Co-Founders Nauman and Faizan Anees have assembled a large team full of people from different backgrounds. Team member names and profile information can be found on the ThinkCoin website.
TradeConnect Network
The image above is from the ThinkCoin white paper. This provide a full, detailed explanation on the Network.
The TradeConnect Network will utilize a mixture of blockchain technology for ledger and smart contracts while also utilizing off-chain transactions to ensure the speed that traders require. The ThinkCoin token (TCO) is used for various fees within the network, margin trading, and Digital Personas. Digital Personas as a unique feature that allows users to build a reputation on the network and other users can bid for the right to trade with those individuals. Some characteristics include frequency, volume, and type of assets traded. This will help match users together to make trades happen more frequently.
According to the roadmap, the TradeConnect beta is scheduled for a July 2018 release. Cryptocurrency assests are scheduled for August 2018 and the additional financial assets roll out throughout the rest of 2018 and into 2019. A Minimum Viable Product is available for download in the App Store and Google Play Store today. Potential users can preview what is expected from TradeConnect upon full release.
As previously mentioned, security is an important part of the platform. Smart Contracts and trusted third party Oracles will be utilized to ensure that there are not multiple people trying to take the same trade. Additionally, with blockchain technology, every transaction will be viewable on the ledger and available for audit.
TCO Token Sale
ThinkCoin tokens are currently available for purchase on the ThinkCoin website. As of May 20th, the Pre-ICO is live and users can receive a 22% bonus on token purchases. The presale runs through June 18th and the full ICO runs through July 9th. Know Your Customer (KYC) is required and tokens can be purchased with Ethereum.
The base token price during the ICO is $0.30 per token. Total supply is 500,000,000 TCO. The project team set a soft cap of $5,000,000 and that goal has already been reached! Interested investors can rest assured that this project will move forward after the end of the ICO.
Sources of Additional Information
Please see the links below for additional information about ThinkCoin and TradeConnect.
BitcoinTalk Announcement Thread
As proof of authorship, the following link is to my BCT user profile.
What are your thoughts on ThinkCoin? Could it be the next big exchange?