A group of students from Boston University has set out to build a commodity derivative exchange for digital currencies, allowing those who hold large amounts of bitcoin to hedge against market volatility. Alt-Options, co-founded in June 2014 by Joe Zhou, Kevin Foo and Marco Cuesta, aims to act as the Chicago Mercantile Exchange for bitcoin, allowing digital currency derivatives to be publicly bought and sold instantly on its platform. The new platform launches in this month with a competition in collaboration with the College Cryptocurrency Network. For the uninitiated, financial derivatives are simply contracts agreed upon between two parties: whoever holds the asset, in this case, bitcoin, and whoever wants to speculate on the future price of the asset. One […]
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