An interesting idea... I'll be curious how you take it to fruition.
For perspective, related competitor services are ICONOMI (an ETF maker), Melonport (for hedge fund management), Taas (Creating their investing terminal), and Aragon (Decentralized companies and jurisdictions).
Santiment is different, it's more like a bloomberg + info market for crypto. I would know, I'm on the team. It's synergistic, not competitive, with actual fund management.
I think you hit on a really interesting idea with the community function. That's something that hasn't really be done before; The closest thing to it would be Numeraire, but what you're describing with communities and delegating funds is superior by an order of magntitude.
Hypothetically you could have pseudo-DAO community funds, where people list their case and the investments they think the fund could create. A crowdsourced index fund or VC, if you will. Would I join one of those? Sure, I'd join a whole bunch of those and hedge my bets on different strategies.
As a platform, you could take a % of all fund transactions, say 0.2% for monetization. That would add up fast.
Anyways, like I said, I'll be curious how you take this to fruition. It seems like a very appropriate use of Steem as infrastructure. Also, I followed you. :)
I've no idea lol. Been generating plenty of ideas but I find it difficult to even start developing any working prototype myself. I find my limited experience developing close to a decade ago too dated for today's simple, effective MVPs. Tech stacks and best practices - I guess I'm putting this out there in hopes for real proper devs to consider this friction-less method of trading and investing through social communities.
Effective marketing is largely emotional in nature and trust is now beginning to shift to p2p networks. Recently listening in on the SEC's Disclosure Effectiveness Summit, they were talking about a lack of innovation in improving disclosure for retail-banking consumers. Also not an expert in financial services (regulated or not), so I'm not sure what the STEEM social framework may even innovate in this space. But I'm digressing here..
Are they necessarily competitors if they're also digital assets and platforms that may be part of SEED? I may be stretching it but this is how confused I am with this "new economy".
Not sure if I understand numer.ai. Is it right to say they're using cryptography to secure the (private) data of the hedge fund, while enabling anyone to develop machine learning algorithms to improve it?
There are a few ways that I could think of, but yes, the spirit of it is through social deliberation.
I'm rather inexperienced in assembling tech projects.. but it's something that I'm trying to learn about.
Hi @kevinwong
Maybe it'd be better focus down on what's achievable. Rather than build something big, just build it in parts.
The key feature seems to be the community coordination and decision-making one. The other parts flow from that. Let's model these components out:
Both parts are a little tricky. But one is achievable now, the other (smart contracts) has some barriers, partly due to the difficulties of handling exchanges accounts and non-standardized tokens.
If you're serious about doing this, I'd recommend building the crowdsourcing collaboration tools first. You'll need a way of gathering and organizing the crowds responses, and a means of voting. It's fine if it's centralized, and can decentralize later.
Additionally we'll need such a tool in the Steem community for crowdsourcing generally, so it'll perform a duel function, since the process for deciding which assets to invest in will be the same as organizing a community around any set of actions.
That's where I'd start, and I'm certain there are people in the community who would help you make that happen. Then you could build on that experience for the next application of the technology, be that the fund aspect or something else.
Good thinking. I guess the smart contract & transparency mechanism can be based solely on reputation and trust of community members first.
As for community coordination mechanism, Steempoll is already being made by @good-karma, but I think it could certainly be improved around the notion of community coordination / decision-making, and especially making it seem like a core utility that'll benefit users.
Thanks! I'll draw up something for this and source community members that are interested to get this rolling.
Thanks for mention Kevin! Improvements are on the way 😉Agree with @zurvanic projects that have big vision should be implemented step by step...