What is the finnoq protocol?
The Finnoq protocol produces a better basis for decisions by leveraging the wisdom of the crowd and game theory principles. The protocol is an open source digital infrastructure for decentralized opinion markets where developers have access to. Every developer can build their application on top of the Finnoq. The developer will be able to choose modules from the service layer. Modules are the bridge between the Finnoq Core and its end applications and represent different kinds of voting parameters. Templates are also generated as pre-defined groups of modules, proven to execute for an end application. All modules can be easily integrated into an application with an standardized API.
- Collective Ratings
In the financial and blockchain industries, powerful and centralized actors rely on market participants’ confidence. They shape market behavior through high-bulk volume purchases and persuasive marketing. This creates cyclical bubbles, systemic failure, price volatility and token sale scams. Picture incentivized opinions forming an unbiased collective result, providing transparency in financial and crypto assets. By giving power to a decentralized community, trust can be restored across industries, revitalizing markets that endure prosperously for all, big and small.
- Financial advice and evaluation
The future of financial advisory is big data, but numbers are only part of the picture. An optimal financial product or service recommended from the crowd is more robust for everyone than the ideas of an individual financial consultant. Envisage financial products and services evaluated among a diverse group of people, forming collective opinions for an individually-targeted and personalized result. The opinion formation process creates better information before making transformative financial decisions.
- Industry-specific market surveys
Cognitive bias while conducting traditional market research is everywhere. Not only in how questions are asked, but when, why and in what context can produce design flaws. Obtaining reliable data is tricky, and influencing the respondent on accident can distort a study’s results. Instead of having poorly-designed research, visualize reliable and cost-saving surveys using opinions from the crowd to ensure unbiased data. By understanding the reality of what end customers actually need and want, a streamlined strategy for effective campaigns and initiatives can be put into motion.
- Idea generation for product development
Innovation and ingenuity will continue to push our societal horizons and capabilities. Along the way, bold and fresh ideas need support from a community of entrepreneurial mentors. Imagine a global community, individually brainstorming and decentrally providing that extra thrust for your idea, from conception to launch and the prototypes in between.
FNQ Token Modell
The FNQ Token authorizes participants to be part in the ”opinion formation process”. In order to obtain rewards, FNQ must be stored in a stake contract.
All FNQ stakeholders decide in which direction the Finnoq protocol steers.
The FNQ Token is the fuel of the Finnoq protocol. Any foreseeable transfer of value within the ecosystem is made in FNQ.