Software Design Contest for Global FX Marketplace Using the Distributed Ledger Technology Pioneered by Bitcoin
Lykke is launching a contest for the best software design of a global FX marketplace using the blockchain. The Competition will take place from October 8, 2015 to December 14, 2015.
Lykke is a movement that aims to build a global marketplace, where all assets and instruments can be traded. The marketplace uses the distributed ledger technology pioneered by Bitcoin and offers immediate settlement and delivery. The Lykke goal is to provide everyone around the globe direct access to the marketplace.
The Lykke founders are technology experts with deep experience of the internal mechanics of the global financial market system. Their goal is to build an efficient FX marketplace that seamlessly integrates with the existing banking system. Richard Olsen, one of the founders, is academic and entrepreneur. He is a pioneer of new technology in finance and co-founded OANDA. In 2001 OANDA revolutionized the FX market by launching a trading platform without discrimination for small traders and second-by-second interest payments.
The competition will run in three stages with 21 prizes in total: 16 prizes of 500’000 Lykke coins or 2000 USD for winners of the first stage; 4 prizes of 1’000’000 Lykke coins or 4000 USD for winners of the second stage; in the final stage, there is a prize of 2’000’000 Lykke coins or 8000 USD that goes to the winner of the competition. The winner will receive a total of 3’500’000 Lykke coins or 14000 USD for winning all three stages. The winner will lead the software implementation of the marketplace. Recipients of the prizes can choose, if they prefer Lykke coins or cash.
The invite to the competition is available at www.lykkex.com and the details of the competition are posted at http://wiki.lykkex.com/
Lykke Corp is registered in Zurich, Switzerland. The company is crowd based at all levels of operations; it sources its resources from around the globe and runs open competitions. Lykke uses open source software to achieve efficiency and scale. Lykke citizens are its biggest assets – everyone is invited to join and participate.
Lykke coin uses Coinprism Open Asset protocol. Lykke Corp guarantees a minimum price of 0.004 USD per Lykke coin valid until the end of 2016.