[ANN] Finnoq - decentralized protocol for crowdsourced advice

PIONEERING CROWDSOURCED ADVICE ON FINANCIAL PRODUCTS, INSTRUMENTS AND SERVICES

In an industry of increasingly-complex and decreasingly-transparent market makers and talking head “opinion leaders”, Finnoq stands at the crossroads between technological innovation and analytic query. The team at Finnoq thought long and hard about how to create a platform for well-intentioned investors in financial markets. By applying game theory, swarm intelligence, and psychological precepts, Finnoq will disrupt the way financial markets operate through its unique protocol.

FINANCIAL DISSERVICES

Undoubtedly, there are huge players such as financial institutions, rating agencies, and opinion drivers in the financial industry. When powerful, centralized actors attest to the confidence of their evaluations of financial products, they have the ability to control and manipulate the behaviour within the entire market. Incentive models (driven by profits, viewership and the appearance of seemingly healthy markets) for diffusing subjective opinions have little to do with real value provided to the average investor. Since opinion-making comes from a place of personal or organizational subjectivity and interest, blindly trusting any opinion on appearance is dangerous. Time and time again, opinions have led to systemic failure in financial markets. Now, Finnoq proposes a new, unbiased model.

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UNBIASED, DECENTRALIZED, AND FORGERY-PROOF OPINIONS

The Finnoq team is creating a decentralized protocol for crowdsourced advice on financial products, instruments and services. This protocol centered on game theory concepts and techniques allows for sharing collective, anonymous opinions from an engaged global community. By using swarm intelligence (each actor answering a question without knowing the responses of others), our protocol ensures that a decentralized community will make better choices than centralized individual actors.How can we bolster such a notion? By creating a network of trusted FNQ holders through the process of “Whitelisting”, each Token holder is authorized to act as an Advisor on the protocol and participate in platform questions regarding financial products or services on the blockchain. Further, we at Finnoq do not believe in a plutocracy; thus, the amount of Tokens one has will not dictate voting power when financial questions are asked. By building upon the Ethereum protocol and staking FNQ Tokens into a smart contract about questions pertinent to finance, Token holders receive rewards by answering in the majority without knowing how other participants voted. Inherent to our protocol design, developers can create modules and templates for the service layer, receiving rewards for usage of each module on the FNQ-CORE. These actions represent the FNQ-CORE and Service layer, as seen below.

USE CASES AND POSSIBILITIES ON THE PROTOCOL

Beyond providing sound, impartial advice about tokenized assets, the Finnoq protocol can be used as a solid foundation upon which to build additional ledger-based applications. The possibilities are endless, and here are just some to spark your interest:

Crowd-based financial consultation

Crowd-sourced trading algorithms

Ratings and assessment of financial products and new ICOs

and much more...

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