Pitch Marathon Berlin 2019
Our mission is to create a decentralized options universe! Bet on real life events: on stocks, politics, sports - on anything! At www.digioptions.com
Trade and earn money, profiting from your specialist knowledge. Or create markets and earn transaction costs - we're user-driven!
Simple. No registration. Easy to use. You just need an Ether wallet. Fair. Small spreads. High liquidity. Transparent. Open software. Secure. No central party. Just decentralized peer-to-peer trading. User-driven. Users create all markets. Democratizing capital markets. Diverse. Trade on markets you won't find anywhere else.
We were impressed by the fast development of the Ethereum blockchain and its environment. Many innovative ideas grew from that. In our case, we were already more than 10 years ago active in providing liquidity for betting markets. Provider was the exclusive liquidity provider for betting exchange bluevex.de. We were happy to see that it was the liquidity we provided that made the difference for the operator’s success of betting markets.
Being inspired by that experience and the profitable business model we found, we wanted to delve deeper into that business and founded the 'first' DigiOptions GmbH at that time. However, being hampered by regulatory requirements we decided not to continue the business. Now, that a decentralized version of that business is enabled by blockchain, we are decided to take a new start.
What it does
DigiOptions is a blockchain fintech. We provide decentralized and user-driven markets for digital options.
On our markets you can bet on outcomes of certain events from finance, sports, politics... If you are missing a market simply create it yourself - We are user-driven! We offer a universe of digital option markets – markets you won’t find anywhere else. You can crate markets yourself an earn transaction costs as a market creator.
DigiOptions leads traders to the user-driven markets and we provide liquidity to the markets. This ensures a high level of transactions.
DigiOptions is secure. Our markets are totally decentralized. We do not hold any user funds. Trading is peer-to-peer via Ethereum blockchain. There is no counterparty risk, since money is deposited on the blockchain.
How we built it
Ethereum blockchain is a means to solve the problem:
- Using smart contracts users can create digital option markets on any underlying, especially cryptocurrencies
- On blockchain there is no central intermediate party. Being decentralized, the exchange cannot be hacked (like MtGox and many others)
- The smart contract requires fully backed offers and thus avoids any counterparty risk
- Since no registration is required to trade via blockchain (in contrast to traditional exchanges) many users can access the markets, providing liquidity
Accomplishments that we're proud of
Live prototype on Ethereum testnet since November 2018.
What we learned
Its liquidity that matters for new markets. Liquidity will be provided by a special trading bot.
What's next for DigiOptions
Going live on Ethereum main chain by December 2019. The main task is the continuous development of the decentralized software and increasing its scalability.