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10 years ago mathematician and fund manager Nassim Taleb made a fortune during the turmoil surrounding the Great Recession. His bet was simple; he believed the vast majority of investment and fund managers had massive overconfidence in their predictive abilities, so he shorted the market. He made hundreds of millions, and subsequently wrote a series of acclaimed books on his findings.
His main tenet is that money managers rarely outperform random chance sufficiently to justify their exorbitant fees. Not only does this fee system rip off investors, it also prevents average people from benefiting from investment funds as a place to increase wealth. It is a situation where the rich get richer.
Taleb has also expressed his admiration for blockchain technology. This tech movement was born from the urge to democratize and decentralize the money system, reducing the grip of governments and financial institutions.
Several crypto projects have made a lot of progress in this regard, disrupting everything from insurance to file storage. And a Switzerland-based project called trade.io is aiming to do this for the investment market itself.
Trade.io has an expansive gameplan and platform design to achieve this, and the company is raising an ICO soon. Their platform uses blockchain technology to address issues in the investment industry that were previously impossible to resolve, and also leverages AI to do even better than the existing options open to investors.
Investing: A closed shop and inefficient market
The problem the team at trade.io want to confront the issues present in finance to enable more people to earn better returns from investments. From the most basic standpoint, the company aims to automate much of the administrative deadweight involved in money management, using trustless ledgers and smart contracts to speed the whole process securely, eliminating the need for manual processing.
But this only constitutes a small part of their vision. Trade.io is a system that uses both human expertise and artificial intelligence to enable holders of their TIO token to gain returns without needing to make much investment decisions themselves; by merely having a wallet with trade.io tokens they will receive any gains or losses generated by the investment decisions made by the trade.io community of experts, their AI prediction engine, and other participating token holders who have opted in. Aside from this the platform provides a full possibility to trade a wide range of assets and cryptocurrencies, making it a complete investment ecosystem.
Experienced team and strategic partnerships
One of the common criticisms about many blockchain projects is a lack of well-rounded teams. Trade.io seem to have worked hard to assemble the right expertise on board. Not only do they have experienced money managers such as CEO Jim Preissler (20 years experience in investment banking) as directors on the business side, they also have a wealth of expertise on complex blockchain tech such as Charles Voltron, the CTO who has been working on blockchain tech for 7 years.
Aside from this, they have cultivated partnerships with tech companies such as Modulus, who have 20 years experience providing solutions to major financial institutions and tech giants like Google. The CEO and founder of Modulus, Richard Gardner, was very positive about the partnership:
“The general trend in the financial industry is undoubtedly moving towards blockchain technology. We were impressed with trade.io’s experience and approach in blockchain, artificial intelligence, and high performance computing, all of which align with the core competencies of Modulus.”
They have also partnered with HitBTC and chosen them as the partner with which they will launch the TIO token to mainstream purchase early next year.
The company have been in development for 2 years, and already racked up some wins with a $50 million investment to get their investment pool started, as well as an incubator that they have set up with the University of Nicosia, Cyprus.
The trade.io ICO runs until January 4th 2018.
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