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Qubic and FOREX

I have not seen a post on this yet, which is surprising since this is \*one\* of the biggest implications of the whole release IMO. ## PUTTING IT ALL TOGETHER As imagined in the Qubic [teaser video](https://qubic.iota.org/static/teaser_720p.mp4), here is a set of qubics \(specifically: an oracle machine, an outsourced computation, and a smart contract\) which work together and evolve over time to do something useful \- in this case, foreign exchange trading. 1. **Exchange rate qubic**: serves as a primitive oracle machine that periodically publishes the exchange rate on the Tangle. The data originator may be predefined or not. In this scenario the oracles fetch data from beyond the Tangle environment which is impossible to get via other means. 2. **Forex prediction qubic**: takes the data supplied by the exchange rate qubic and predicts the rate for the immediate future. In this scenario the oracles perform intensive outsourced computations, which would be too difficult or expensive to do on low\-level devices. 3. **Portfolio management qubic**: takes the data supplied by both of the above qubics and sells or buys pegged virtual USD for pegged virtual EUR. In this scenario the oracles execute a smart contract which allows the owner not to have to handle all trading manually. I don't know if you all realize just how large the FOREX markets are. ## Trading volume The forex market, according to the 2016 Triennial Central Bank Survey of FX and over\-the\-counter \(OTC\) derivatives markets, has a jaw\-dropping daily turnover of **$5.1 trillion**. The US dollar continues to remain the dominant vehicle currency. The New York Stock Exchange, or NYSE for short, is the largest equities exchange based on total market capitalisation of its listed securities, and has a daily turnover of around **$40 billion**. According to SIMFA \(Securities Industry and Financial Markets Associations\), the average daily trading volume for US government treasury bonds is around **$530 ...
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