Software Design Contest for Global FX Marketplace Using the Distributed Ledger Technology Pioneered by Bitcoin

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/

About Lykke

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.


Related News

Software Design Contest for Global FX Marketplace

Bitcoin press release: Lykke launches a contest for the best software design of a global FX marketplace. The Competition will take place from October 8, 2015 to December 14, 2015. Lykke is moving to build a global marketplace, where all assets and instruments can be traded. We start with FX. 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....

U.S. Gov’t Announces Blockchain Healthcare Contest

It seems the U.S. government is going all in on blockchain technology, as the Department of Health and Human Services (HHS) just announced its distributed ledger contest that applies the technology to healthcare services. U.S. Gov’t Agency Wants to Apply Blockchain to Healthcare. The contest — called the “Blockchain and Its Emerging Role in Healthcare....

An Early Blockchain Experiment by Global Banks Is Revealed

Blockchain startup R3 has revealed the completion of a new test that involved a total of 11 banks connected to a peer-to-peer decentralized distributed ledger. The experiment is likely to figure among the earliest examples of multiple banks using a distributed ledger to exchange value, successfully. In a press release today, R3 co-founder Todd McDonald has announced the completion of a distributed ledger experiment where 11 global banks participated in the simulation of exchanging trades and value on an R3-managed distributed ledger. Each bank was connected to a private, R3-managed....

Bitcoin Wall Street Logo Design Contest

Here is a cool contest for all design enthusiasts. Apparently, there is a new Bitcoin center at 40 Broad St and they are offering a logo design contest for their organization. From 99Designs Website: "This organization is a physical Bitcoin education center located at 40 broad st. New York, NY. This location is about 100 feet off of Wall st. in the heart of the global financial center. The organization is located in a large retail space of the building next door to the New York Stock Exchange. The organization exists to bridge the gap between the bitcoin industry and the myriad of....

R3 Consortium Adds Its First African Bank, Member of Barclays Group

The goal of the R3 Consortium to form a global partnership to design and apply blockchain’s distributed and shared ledger-inspired technologies to financial markets got a boost as it adds its first African institution to its membership. South Africa’s Absa Bank Ltd, a member of the Barclays Africa Group Limited, is the first African banking group to join the global R3 blockchain consortium which has already partnered with some of the world's leading banks to design and deliver advanced distributed ledger technologies to global financial markets. Absa will collaborate with other SA banks.....