Fokoya: Pioneering Peer2Peer Platform Provider

Written by: Chase Kretch

Headquartered in Tel Aviv, Fokoya is an Israeli tech startup that is driven by their ambition of combining the world of financial trading with the field of online gaming. Fokoya’s core objective is to provide users with an opportunity to turn low risk investments into significant turnover. The development of Fokoya did not happen over night, and despite being a young company, the group has come a long way in finding the most effective methods in bringing their vision from an idea to an interactive platform catering to a wide variety of users.

The Beginning

Although Fokoya was technically established about a year and a half ago, the vision and development of the group began in 2015. Co-Founders Gilad Raz, Guy Oren, and Guy Lando envisioned a company that would supply a product that could cover uncharted waters in the tech industry; peer to peer financial trading through a gaming medium. “Our goal was to cut out banks, brokers, and governments,” says Gilad Raz, Co-founder and CEO of Fokoya. Raz, Oren, and Lando were inspired to start Fokoya after realizing an untapped market: Financial trading that is open to people of all budgets and levels of knowledge. To many, the world of stocks and trading can be overwhelming and confusing at first glance, especially when one has little to no prior experience in the field. “Our company provides easy access to the financial market for every person that always wanted to take part but never had the resources,” says Raz, “every budget is welcome.”

The state of the company took a shift in 2017 with the sudden rise in poppularity of cryptocurrency. Bitcoin in particular, exploded in demand and reputation in this year, as more and more businesses began to welcome bitcoin as an acceptable currency. Beyond just private businesses accepting crypto, even national governments began passing laws which declared bitcoin and other cryptocurrency as legal payment methods. Fokoya took steady notice and was fascinated by this worldwide infatuation with Bitcoin, and decided it was an optimal direction for their future.

The Present

With the world buzzing amidst the crypto craze of 2017, Fokoya saw an opportunity to enhance their product by incorporating peer to peer cryptocurrency trading. The rapid surge in Bitcoin recognition helped influence Fokoya in their latest product: Blockium. Blockium is Fokoya’s vision inhibited through an communal platform that combines traditional stocks with crypto. Going beyond just combining traditional stock exchanges with crypto, the objective of Blockium was to mix these facets with an entirely seperate realm. “We have developed a platform that combines 3 of the most exciting industries: finance, gaming and blockchain,” Raz explains, “we let people trade one against each other for the first time ever.” Blockium allows users to compete against other users, create their own portfolios, and vie for real money.

As of today, the progression of Blockium is the main focus of Fokoya. From their office on beautfiul Rothschild Boulevard in Tel Aviv, Fokoya’s team of UX designers, product managers, and developers are constantly working on improvements and creating new visions.

The Future

While Blockium remains the focal point of Fokoya at the moment, they are still always searching for ways in which they can expand their core values into new manifestations. Fokoya prides itself on being able to adjust to the times and take advantage of new developments in finance and gaming. For example, just this past May the United States Supreme Court ruled to strike down a federal ban on sports betting. With this recent development, Fokoya sees potential in attacking another market; peer to peer sports betting. Fokoya hopes to turn this idea into a reality sometime before 2019.

With a myriad of fresh ideas and products on the horizon, Fokoya is determined to stay true to their values in which they founded the company on in 2015. They are hopeful that their output will provide users with an opportunity to grow their knowledge and ultimately turn that knowledge into real profit. Through providing free services that captivate and entertain their audience, Fokoya plans to take the worlds of trading and gaming by storm.

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Blockium - the unique financial gamification platform, uniting stocks and crypto traders | www.blockium.io

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Blockium

Blockium - the unique financial gamification platform, uniting stocks and crypto traders | www.blockium.io