FinTech company Wealthman Ltd has partnered with InoCoin to revolutionize the USD 100 trillion digital wealth management industry. The London-based company builds wealth management protocols for wealth managers. It is aiming to provide a DLT-based decentralized wealth management solution that will ultimately render banks, brokers and regulatory authorities obsolete.
The InoCoin/Wealthman partnership
InoCoin focuses on helping new and innovative startups to meet potential investors. The company is based in Malta and focuses on decentralized crowdfunding. It has created its own DLT-based payment system, InoPay. InoCoin has also partnered with FabricToken, an organization that aims to make dApp deployment easy to complete without any specialized knowledge.
The two companies are working together to create a decentralized wealth industry. The collaboration will help Wealthman to acquire more private investors for their newest DLT venture. According to Wealthman representative Elena Ruzova –
“Working with the experts from the InoCoin team and community is an inspiring process. We both want to disrupt the 100 trillion dollar market of the investment management industry.”
According to the InoCoin blog –
“We believe that this strategically important partnership will bring new investors to our project, while also promoting the startup culture. At InoCoin, we value investors as the driving force of our InoCoin Platform.”
Decentralized wealth management
Robo-advisors have been increasing in popularity over the past decade. A low-cost algorithmic approach to investing where clients set their preferences and let technology do its work with the minimal chance of error and corruption is highly desirable.
However, there is another level that needs to be attained. Robo-advisors are still operating in the regulated fiat markets with its inherent instability, and there is room for further decentralization and transparency. Fund management fees are unacceptable, taking into account the scams in the industry as well as the fact that random selection has been proven to be just as effective as wall street expert managers. Wealthman uses decentralized autonomous robo-advisors based on smart contracts for its distributed wealth management services.
Truly decentralized wealth management systems should revolutionize the way investors interact with brokers and regulatory authorities, eventually removing them from the investment process. There is also an argument that industries can become naturally self-regulating. Even a 2% or 3% fee can make a massive difference on a portfolio, taking into account compounding interest over the years. A trustless and decentralized wealth management system will mean that regular investors get richer.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.