BitScreener Project ICO Review


A financial information system accumulates and analyzes financial data used for optimal financial planning and forecasting decisions and outcomes. An FIS is used in conjunction with a decision support system,and it helps a firm attain its financial objectives because they use a minimal amount of resources relative to a predetermined margin of safety. An FIS can be thought of as a financial planner for electronic commerce that can also produce large amounts of market and financial data at once obtained from financial databases worldwide.

Financial data analysis may be conducted through trend evaluations, ratio analyses and financial planning modeling. Data outputs that are produced by FIS can include: operating and capital budgets, working capital reports, accounting reports and cash flow forecasts. The predictive analytics included in these applications may also narrow down exactly what could be expected from a business interaction or transaction that has yet to take place.

The management of financial information in an e-commerce business is paramount in order to gain maximum operating results in the shortest amount of time. An FIS can also yield huge amounts of data for daily business operations. Financial markets traders and salespeople have the greatest demand for FIS because they work in very fast environments and their on-demand computing systems must keep up with real-time activities in order to allow these professionals to operate in real time. Broker investigating, investment and trade data along with fiscal asset classes can be relayed through an FIS. This also works for smaller businesses that need to obtain financial data about local markets. FIS is a form or real-time operating system that works to enhance financial information exchanges.

Problem Statement

Some of the sticking issues in the existing financial data and content systems have been summarized below.
Biased and low quality information – in the world of finance, biased news is spread as pump and dump schemes for unethical gains. So, there is a declining confidence in the media generally. There is the problem of unfair share distribution – the system as it is benefits the centralized provider but it shouldn’t be and rather, contributors and readers should be treated fairly based on their contributions.
Inconsistent financial information – the financial data system as we have currently does not correspond to the needs of readers. There is also the tendency of users missing out on opportunities because of delay, high cost and data unreliability. Then there is the issue of disconnect of the financial world as pertaining crypto and stock.  

BitScreener Solution

This platform combines many sophistries of the existing content delivery and crowdsourcing systems as a solution to the financial world with particular interest on economic benefits. It is about creating an ecosystem that makes use of the blockchain technology to create rewards and so, enhance fairness among various parties. The system will evaluate certain user’s social actions such as a well-researched article, editing a post, or upvoting/downvoting a piece of information. After evaluation, these actions are later translated into points depending on how their actions benefit the community.
The points will then be converted into an Ethereum-based BitScreener that can be held in Ethereum Wallets. The points or tokens are then used to reveal advanced features in the platform that would be bought with fiat money. This is different from what is obtainable in that it can have both cryptocurrencies and stock data in a single platform.

No comments

Powered by Blogger.