TrakInvest explores operations in Oman
TrakInvest crowdsources fundamental and social trading data to generate profitable trading ideas.
MUSCAT: TrakInvest officials were recently in Muscat to meet investors, strategic partners, and regulators to evaluate prospects for setting up operations in Oman.
TrakInvest is the world’s first virtual social trading platform that crowdsources fundamental and social trading data to generate profitable trading signals and ideas. With a growing community of more than 100,000 users, the platform is available on web, mobile and Facebook Messenger, enabling users to build virtual trading portfolios, share and learn on a peer-to-peer basis, and gain certifications and employment opportunities in the financial services sector.
Bobby Bhatia, the founder and chief executive officer of TrakInvest, said the company is committed to teaching investment as a life skill and providing artificial intelligence (AI)-powered tools and analytics for millennial investor, to assist them in making more informed decisions. “TrakInvest, through its blockchain initiative, has created a collaborative, reward-based peer to peer economy, where its users earn for generating and sharing their real time trading ideas and track records,” noted Bhatia.
The financial industry is facing the loss of customer trust and low levels of retail participation. This has resulted in a number of innovative platforms, which empower individuals through automated systems and social networks, that are disrupting the traditional retail brokerage and investment management models.
TrakInvest is one such company that has been changing the financial services landscape across Asia in the past three years. Headquarted in Singapore, with operations in India, Thailand and Hong Kong, TrakInvest, focuses on crowdsourcing of financial wisdom, and rewarding its participants in a decentralised economy based on performance and insights.
The rising demand from the TrakInvest community has prompted the firm to make the next move to the blockchain ecosystem and launch its own cryptocurrency.
This currency, known as the “Trak Token”, will be based on the Ethereum platform. The Trak Token launch will introduce a reward economy, in which the producers of trading data, insights and sentiments will be globally rewarded in a transparent and frictionless manner. Furthermore, an individual’s trading performance and certifications will now be stored on the public blockchain, thus, making the process of qualification seamless. Backed by a powerful tech stack and the strength of Ethereum’s Open community network, the ecosystem has a strong technical foothold.
The platform, which currently provides virtual equity trading, will also be introducing a virtual trading platform for cryptocurrencies, and the next generation of “crowdsourced” sentiment tools for equities and cryptocurrencies.
These proprietary tools will be developed using social trading data and behaviour collected for the last three years.