ThinkCoin will offer peer-to-peer multi-asset trading over a hybrid network called TradeConnect. Find out how it works today in our review.
What Is ThinkCoin?
ThinkCoin is a digital token used within a peer-to-peer trading platform called TradeConnect.
The goal of TradeConnect is to use the security of blockchain technology to allow users to securely trade any financial asset around the world. With ThinkCoin, trades are settled in seconds, not days. TradeConnect will allow users to trade any assets with other traders anywhere in the world. It uses a hybrid trading model where trades are processed off-chain but recorded on-chain using smart contracts.
The ICO for ThinkCoin tokens, or TCOs, begins with a pre-ICO on March 26, with the main ICO continuing until the end of April.
What Problems Does ThinkCoin Seek To Solve?
ThinkCoin seeks to solve all of the problems in today’s financial asset trading marketplace:
- Too many intermediaries increase costs across the industry, creating credit and financial risk
- There’s a lack of flexibility, making it difficult to transfer trades and meet the individual needs of every trader
- Settlement takes too long; legacy institutions can take days to confirm transactions
- There’s a lack of transparency among traditional broker models
How Does ThinkCoin Blockchain Crypto Asset Trading Work?
ThinkCoin aims to solve the problems listed above by creating a state-of-the-art peer-to-peer trading network called TradeConnect. TradeConnect will enable the trading of any financial asset in the world.
TradeConnect’s bespoke software will allow individuals and institutions to trade directly with one another, leading to a balanced playing field where large and small traders can trade as equals. With ThinkCoin, all trades are verified on the blockchain, which means settlements can be completed in seconds – not days.
The TradeConnect ecosystem will revolve around the use of ThinkCoin, described as “the digital trading token that underpins the TradeConnect network.”
Using ThinkCoin, you can trade forex, commodities, shares, and other financial products with peers in a simple, secure, and user-friendly way.
ThinkCoin is listed under the symbol TCO. You can purchase TCO during the company’s pre-ICO and ICO. They’re selling TCO in exchange for fiat currencies and cryptocurrencies. After the token sales, TCOs will be available to purchase from different exchanges.
The TradeConnect alpha is scheduled to be released in April 2018. By the end of the year, TradeConnect aims to have already received approval to operate as a licensed exchange in the United States. By July 2019, the company aims to hold an IPO (yes, an IPO and not an ICO).
How To Use ThinkCoin
Here’s the basic process when exchanging digital assets on the TradeConnect network using ThinkCoin:
Step 1) The market maker offers a contract and the market maker takes the contract
Step 2) TradeConnect matches makers and takers together, then executes the trade
Step 3) The offline transaction is stored by relay, with 75% of the TradeConnect fee allocated to the maker and taker rebate pools
Step 4) An independent oracle determines win or loss
Step 5) A smart contract automatically settles the transaction between the maker and the taker (50% of the TradeConnect fee goes to the market maker, 25% to the market taker, and 25% to the TradeConnect network)
Overall, ThinkCoin seeks to offer the fastest and most trustworthy trading possible. Trades are recorded in smart contracts for maximum security. Transactions are processed off-chain, however, for faster speeds. The hybrid approach “delivers [the] best of both worlds”, explains the ThinkCoin whitepaper and makes peer-to-peer trading more adaptable than ever before. The platform aims to democratize trading while improving the trading experience. Other benefits include:
- Reduce counterparty risk by stabilizing the trading process
- Deliver flexible and transparent trade executions
- Bring speed and efficiency to the trade settlement process
- Distribute value amongst all network participants
Who’s Behind ThinkCoin?
ThinkCoin is made by the ThinkMarkets Group, a company responsible for online products and services like ThinkPrime, ThinkAffiliates, and ThinkInvest. The company was founded as ThinkForex in 2010. In 2017, ThinkMarkets acquired TradeInterceptor, “the world’s most searched-for trading app”. By launching TradeConnect and ThinkCoin, the company plans to continue adding to its digital portfolio of products and services.
Key members of the team include Nauman Anees (CEO and Co-Founder), Faizan Anees (Director and Co-Founder), Rodolfo Festa Bianchet (CEO and Co-Founder of TradeInterceptor), Michael Herron (Strategic Advisor), and Adil Siddiqui (Director of Operations).
ThinkMarkets Group is registered in Bermuda, although the company’s global headquarters are in Australia. ThinkMarkets Group also has offices in London, Bulgaria, Dubai, Shanghai, Shenzehn, Vietnam, Greece, and Spain.
ThinkCoin TCO ICO Details
The ThinkCoin token sale begins with a pre-ICO from March 26 to April 9, 2018, during which you can buy tokens at a price of $0.21 to $0.25 USD.
The main ICO, meanwhile, is scheduled for April 9 to April 27, during which tokens are priced at $0.30 USD.
There’s a total supply of 500 million TCO tokens. Of the total supply, 60% (300 million) are available during the pre-ICO and ICO combined.
There’s a hard cap of $50 million for the pre-ICO and ICO combined.
ThinkCoin, or TCO, is a digital currency designed for use in the upcoming ThinkConnect trading platform. ThinkConnect seeks to democratize trading using a hybrid centralized/decentralized model: ThinkConnect will match market makers with market takers, then complete transactions off-chain while recording transaction data on-chain in a smart contract.
Some of the key benefits of the platform include the ability to trade any financial asset in the world, the ability to conduct peer-to-peer trading in a global marketplace, and the freedom of completing trades in seconds – not days.
To learn more about ThinkCoin and how it works, visit online today at ThinkCoin.io.