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Danish Tradimo bets on China as a growth market

07.11.2018  04:29

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On 26 October, Tradimo held the opening reception for their China office at the Danish Consulate General in Shanghai. Among the participants were Chinese financial media and other stakeholders from Shanghai’s financial industry.

Tradimo is a Danish EdTech company that offers financial education with a focus on investment and trading. The company, which has won the title as Denmark’s best financial EdTech platform,  provides education for a broad range of investors: from inexperienced beginners to seasoned traders. Different types of educational services are available through Tradimo. One example is the free mobile game “Little Traders”, where beginners learn the basics of financial investment. Tradimo also offers more advances courses within different areas of finance, where participants receive an official certification – called a ‘Nanodiploma’ – after ending the course.

During a break in Sebastian’s busy programme, ICDK Shanghai caught him for a talk about Tradimo’s prospects on the Chinse market.


Which ambitions do you have for China?

“China is one of the world’s greatest market to be involved in; it’s growing fast, it’s huge, and the people have the willingness to take risks, to work hard, and to learn. However, being a country with more than 1.2 billion citizens, it is quite important to secure the well-being of these people, and to control the economy of the country. Although the Chinese economy has been growing steadily lately, there are still economic risks. I think the way to mitigate that risk, is for China to invest into financial education.”

Why is financial education so important?

“I hear that people are asking themselves, why the world is becoming more and more divided; the way I see it, is that there are the people, who know what to do with their money (and retire as multimillionaires), and there are people that don’t know what to do with their money. This difference is becoming more and more dramatic, and means that for some people, it is no problem to pay a 200.000 dollar university education, while others have to spend their entire pension savings to pay this education. And suddenly you have a two class society. But I think that China can avoid this by investing in financial education.”


You say that you want everybody to be able to learn about and become interested in finance and investments. Why is this so important to you?

“It is one of the decisive questions of our time, whether the societies and governments around the world will succeed in doing this, or whether many people will be left on the way. As we move onto artificial intelligence and machine learning, capital becomes increasingly powerful. And if you don’t participate in it, you have a problem. It’s a problem whether your society is communistic, socialistic or democratic. It’s a problem, if people with money benefit much more than people without money. We do not simply want people with a lot of money to give their money to the ones with little money. This solution is not as good, as if everybody just learns how to invest well. The social welfare in general would improve, if more people would only know how to invest their money right.”


And you believe that by playing the game, Little Traders, anybody can learn to invest?

“Well, the game can give you motivation. It can take away the fear of pressing the ‘buy’ button for the first time. That’s the most horrifying moment for people, that are more conservative and not used to this world; the first time you click the ‘buy’ button and actually risk real money. In the game, you just risk virtual money, but the emotion and the psychology behind it, is the same. In the game, we see people that wait for 30 minutes, before they press the ‘buy’ button. One round in the game is only 5 minutes, so they have actually wasted 6 rounds on just being afraid. It’s the same in real life, where people waste years of their lives without investing.”


What do you think are the biggest challenges on the Chinese market, and how can you overcome them?

“The biggest challenges on the Chinese market are related to the regulations, which are very complicated at the moment. The financial education and financial services are both in a grey area: they are not clearly regulated, but neither clearly forbidden. Even though we only want to do something good, which could improve people’s economy, I do understand that China wants to protect people from bad influences, which sometimes may come from education, if the education is taken over by a private company. However, I think we will be able to navigate through it and collaborate with the local companies and the government in order to successfully integrate financial education in China.”


Pictures from the reception

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