Categories: Bitcoin Politics

Bitcoin Derivatives Platform Advances in Global Startup Contest

Click here to view original web page at www.coindesk.com


The winning BitMEX team in Hong Kong

Hong Kong-based bitcoin derivatives platform BitMEX received a vote of confidence this week when it won the Hong Kong leg of Slush’s startup challenge.

The prize will see the team head off on an all-expenses-paid trip to Finland for the main Slush 2014 event in Helsinki, which takes place from 18-19th November.

Slush is a worldwide pitching competition for startups with local events in at least 18 different cities. Its events aim to match startups with venture funders and also feature thousands of pre-arranged private meetings between startups and investors.

Three-minute pitch

At the Hong Kong event, each startup was given three minutes to pitch their product followed by a Q&A session. Competitors were judged on their presentation skills, business model and quality of answers to questions.

BitMEX CEO Arthur Hayes told CoinDesk his firm’s focus on bitcoin gave it an edge.

“Our pitch was the punchiest and clearly demonstrated our value proposition. The bitcoin market is very disruptive and has immense upside potential. We have a global product, whereas many of the other startups were local to Hong Kong and would have difficulty scaling.”

About 200 people attended the presentation, which Hayes said would help spread the word about bitcoin and its derivatives market to those who might not have been familiar with either subject.

Competition judges at the Hong Kong event included representatives from various venture firms and incubators, including Peng Ong, managing director Monk’s Hill Ventures; Marc Syz, managing director ACE & Company; and David Chen, managing director AngelVest.

Next steps

His own years of experience in the mainstream institutional trading and derivatives world, Hayes said, gives him firm knowledge of what BitMEX needs to succeed in the bitcoin universe.

BitMEX (for Bitcoin Mercantile Exchange) will go live with real bitcoin trading at the end of October. It is currently still in trial phase, with its market makers busy perfecting their trading systems in order to provide adequate liquidity from day one.

After the exchange goes live, the BitMEX team will attend the Web Summit in Dublin as part of its startup Alpha program, where they will exhibit the platform for one day. They will then continue on to Helsinki with the aim of repeating their Hong Kong performance at Slush International.

November’s Helsinki event promises 10,000 participants, including 2500 companies from over 90 countries and $200bn worth of venture capital represented.

According to the Slush Hong Kong website, as the winner BitMEX gets (as well as the trip to the Helsinki event) a free pass to StartmeupHK Week from 10-15th November, a free booth at the TEDxHongKong 2014 Startup Pavilion on 15th November, and two VIP passes for TEDxHongKong Live on 11th October 11th.

Image courtesy BitMEX

AsiaBitMEXChinaHong KongStartups

The prize will see the team head off on an all-expenses-paid trip to Finland for the main Slush 2014 event in Helsinki, which takes place from 18-19th November.

Slush is a worldwide pitching competition for startups with local events in at least 18 different cities. Its events aim […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: judge

Recent Posts

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

5 hours ago

Bitcoin trades dangerously close to $10,000 mark

Bitcoin's (BTC/USD) rebound from August lows remains short-lived. Satoshi Nakamoto is said to reveal identity later on Sunday. A break… Read More

5 hours ago

Bitcoin Price Will Go From $20,000 to $50,000 by 2021: Analyst

Share Tweet Send Share Economist and crypto analyst Alex Krüger believes that $20,000 won’t be the all-time high (ATH) bitcoin… Read More

5 hours ago

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

via Middle East Media Research InstituteSAN FRANCISCO — Hamas, the militant Palestinian group, has been designated a terrorist organization by… Read More

5 hours ago

Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes

For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun… Read More

5 hours ago

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More