Friday, 28 November 2008
How about a dedicated financial news microblogging tool?
Microblogging is rising phenomenon in the world of blogging, and user generated online content. A perfect example of microblogging is the ‘status’ message on a facebook profile, or the user stats on Twitter.
Basically, it’s a very short (couple of sentences long), topical blog post that can be either personal or business related. A lot of people/companies use it to keep people they are connected to updated with their activities, product launches, company news etc. There are even applications within companies that allow colleagues to communicate with each other.
As a microblogging user myself, I find it very fascinating and useful especially when it comes to getting the scoop on some breaking news. This lead me to think about the potential application of a microblogging tool dedicated to financial news. You can obviously find financial news strewn across the major microblogging websites, but to have a dedicated online service where only financially related issues would be microblogged would be quite powerful. The financial world is fast moving, and is heavily influenced by conjecture and hearsay, a microblogging tool provides the perfect platform for this, and could bring news, developments to members, screens in seconds.
There are concerns of course, insider trading, rumours released with fraudulent intent, but the basic concept seems sound to me.
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