In The Press: TechNode

http://technode.com/2014/02/02/sparkprofit-invites-everyone-to-make-predictions-on-financial-markets-and-rewards-good-ones-with-cash/

SparkProfit invites everyone to make predictions on financial markets and rewards good ones with cash

By  on February 2, 2014

Spark Profit is a platform for users, being professionals or not,  to make predictions on financial markets and earn cash rewards. Those who are good at making predictions will receive weekly incomes.

Available on the Web, Android and iOS, Spark Profit is designed to fit into users’ spare time, according to Justin Short, CEO of Nous.net — the Tokyo-based startup behind the service.

It’s risk free to make any predictions on Spark Profit. But the founders of the startup will take risks to keep the platform running and make profits. They will trade, with their own money, based on predictions made by users and reward good predictors with returns.

This business model is called ”crowd-sourced alpha” by the founders. Justin Short came up with this idea 4 years ago and has applied for a patent.

With 16-year experience in building automated trading systems for investment banks, Short and his four co-founders, who are also finance and IT professionals, are confident that they are able to “find the trading signal in the noise of the crowd”.

Currently only major currency prices, including Bitcoin prices, are available for users to make predictions on. More types of financial products will be added later. The service has attracted players from more than 70 countries in a trial period last year.

Incorporated in 2012, Nous. net has been self-funded so far and is looking for angel investment.

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