Today, there are huge players like banks and rating agencies in the financial industry. When such big, centralized organizations give their opinion or evaluation on financial products, they have the ability to control and manipulate the behaviour of the entire market.
An opinion is basically subjective, reflecting the personal view of a given reality. Thus, it can be very dangerous to trust anybody personal opinion blindly.
The proper incentive structure for a truly objective opinion is an issue worth tackling. Especially within the context of selling financial products, opinions can be distorted by monetary incentives.
The Finnoq protocol is a solution for opinions and decisions within financial markets. Finnoq creates an open source protocol for crowdsourced advice where developers have access to the Finnoq Core and can build applications on top of it.
The finnoq core is creating a collective advice from a global community, bolstered by game theory concepts and techniques.
The effect of swarm intelligence represents the basis for the protocol, implying that a community decides better and more thoroughly than individuals.
The Blockchain layer is used to bring security and transparency to the protocol.
As its own blockchain layer, every smart contract platform (Ethereum, Lisk, EOS, NEO, etc.) can be utilisied on finnoq core. In the initial rollout phase, the finnoq core will use Ethereum as it`s blockchain.
Every developer can build an application on top of the Finnoq Core. The developer will be able to choose modules from the service layer. A module can be a collection of parameters or a template for rating different financial products. A module is essentially an extended functionality of the Finnoq Core. Basically a module is the bridge between the Finnoq Core and the applications. The modules can be easily used via application programming interface, API.
Inherent to our protocol design, developers can be part of the Finnoq Core. They are able to create modules and templates on the service layer, receiving rewards for usage of the module on Finnoq Core.
|Future team fund||5%|
|Advisor & long-term mentors||5%|
Founding of FINNOQ GmbH
Joined Tech2b Incubator
Seed Round OÖ Gründerfonds
Accepted to Business2Excellence
Launched the first finnoq platform
Planned the first development of the finnoq protocol
Rebranding and redesign of Finnoq
Finnoq Core goes live on Mainnet
Release of the first modules in the service layer
Start the ecosystem fund
Establish a Foundation for the finnoq protocol
Release “Tokenised Asset Rating” as the first application on finnoq core
All data will be stored decentralised; every user gets rewards for the data.
We have a broad network of experienced advisors supporting our project.