The financial world is full of secrets, but they are gradually being revealed. More and more social networking sites are rising. We”ll examine three examples of sites that not only enable networking, but expose financial data. This makes us think – will this transparency reach the big financial institutions? Could the current financial crisis be avoided if the public knew what the bankers were doing?
The Web 2.0 revolution is reaching the financial sector. It”s not only forums and chat rooms, and not another Twitter application for stocks. This time it”s about revealing trades in real time. One sector is standing out: forex. Trading currencies has been around for a few decades, but it was limited to big financial institutions. The internet, among other things, brought this niche of financial investment (or speculation if you wish) to the masses.
“Show me the money”
There”s lots of innovation around forex trading platforms, so this served as good ground for networking sites as well. In 2009 and 2010, these networking sites went deeper – deep into the pockets of investors. Similar to applications such as Google Latitude that expose your geographical location, these sites expose data. But it”s not only forex. Let”s see some examples: Read more…