When we came to LA we were reminded of the wide variety of economic backgrounds present within the city. The lack of opportunity and ability for lower-income people to be able to invest to make a profit, by investing with larger initial capital, concerned us. With limited money to spend, they either have to invest with borrowed money, or are limited and cannot invest in quality securities with higher potential for growth. To solve the issue of investing on margin, and for the sake of diversification of one's portfolio, we created Vault.
What it does
Any user of Vault can search the ticker of any publicly traded security and create a request to purchase a percentage of that security (51%-85%); the remaining percentage is split with another user. We set the lower bound to 51 so the purchase is guaranteed to still be profitable and simplify purchasing issues. We set the upper bound to 85 so that users with minimal capital can have a 15% stake, which is still enough to generate noticeable profit.
How we built it
Challenges we ran into
No members of our team were aware of the update of node to make all http requests asynchronous by default, so we had to de-bug and switch all of our functions to be asynchronous to account for this.
Accomplishments that we're proud of
Two members of the team had no prior experience with node.js, yet made major contributions to the back-end.
What we learned
HTML 5 Canvas, working with the Capital One and Blackrock APIs, Table.js, node.js.
What's next for Vault
We plan to convert Vault from fake transactions to real transactions through actual vendors. This way, real users can use our application. We also hope to transition to a mobile app to make the app even more accessible.