Didier Lopes, Founder & CEO of OpenBB, recently spoke at the Open Source Finance Forum in London, an event of The The Linux Foundation, to share his views on why current proprietary investment research platforms such as Bloomberg won’t last citing their cost and inflexibility as major impediments to wide adoption, especially by the rapidly growing market of individual investors and online investment communities.
Instead, Didier predicted that new open source software platforms such as OpenBB are better suited to make high quality investment research available to everyone citing several reasons:
- Open source excels at infrastructure
- Open source is transparent and secure
- Open source is fully customizable
- Open source creates integrated communities
- Open source attracts people from every background
- Open source pulls the best ideas
- Developers from anywhere can contribute to the project
To support his prediction, Didier highlights what OpenBB has witnessed within a year of its launch:
- Over 100 active contributors from around the world
- Over 500 functions already available enabling access to high quality data and research on Stocks, ETFs, Forex, Crypto, Options, Portfolio, Mutual Funds, and Economy
- Hundreds of users working on ways to assess their multi-asset portfolios through customizable reports and even leveraging portfolio optimization libraries
- Enabling data scientists to forecast asset prices based on multiple financial time series
- Over 14.8K stars earned on Github placing the project in the top 0.0003% of all open source projects globally (and there are over 321 million of them!)
- Over $8.5M in recent capital infusion!
Didier also provided actual examples of how OpenBB is currently being used by individual and professional investors, professors and students of finance and economics, and even data scientists and financial analysts in large corporations.
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