Blockoptions. The 1st decentralised binary trading option platform announces it’s ICO launch on august 25th 2017 at 04.00 UTC to fund further project development. The crowdsale will continue up until september 25th 2017 at 04.00 UTC.
Blockoptions team is building a 100% independent and decentralised binary options platform that is based on ethereum main chain with BOPT a standard ECR20 ethereum token which would be used as an in trade currency and dividend to token holders.
Binary option trading are the simplest type of stock or asset trading so far, as they require very little or no inside knowledge of stock trading. The trader simple selects the direction in which he/she thinks the price of an asset will move in a given amount time – either ‘UP’ (call option) or down (put option) – and purchases an option contract. With this option, the trader has the right to a fixed return on his capital (usually determined by the broker) if his/her price movement prediction is correct or losses all his/her initial investment if things happen the other way round. In the rare case of no price movements, trader’s initial capital is refunded. Although the main action in binary options trading is predicting if price moves above or below the present price, other forms of binary trade available are touch trading and range trading.
Binary options are often considered a form of gambling rather than investment because of their negative cumulative payout (the brokers have an edge over the investor) and because they require little or no knowledge of the markets.This sort of thing can quickly become addictive… no one, no matter how knowledgeable can consistently predict what a stock or commodity will do within a short time frame.
The binary options industry of today has a massive community around it(currently millions of trade per day.) and there is also a great deal of finance flowing in and out of this sector. Just in Israel alone, binary options broker companies made $5 billion profit in 2016. One of the biggest binary options platform in United States makes almost 1M profit per day. IG Group, One of the top company made $305.1 million of net trading revenue in 2016. So we can say binary option is a multi-billion dollar industry and it is still fresh.
- Despite the amount all the money, population and simplicity around this industry, there is still a big gap that needs to be filled up. That gap is ‘trust’ very small but very essential in fact it is a necessity in the today’s traditional binary option industry but it is leading both traders and brokers in a bootstrap situations and most at time the outcome is catastrophic. Because of this, the industry is flooded with scams and frauds. Examples of such include;
- Blocked withdrawal
- Traders sending money from hacked or stolen accounts
- Platform shots down and run with all traders cash
- Manipulating price feeds by platform
Because trader and broker need to trust each other before dealing, the above misfortunes are inevitable. This can be seen from the amount of scams and fraud that plagues the industry by searching the phrase ‘scams in binary options industry’, frauds in binary options industry’ etc.. on google and youtube. Apparently for every good binary option trade that takes place on the web, there are 2 more bad binary option trades that takes place to counter it. Leaving us with millions of ‘binary trades went wrong per day’.
The issue of trust is undoubted the main breakpoint in the industry but it is not the only point worth looking into. The industry is also preoccupied by some annoying limits which affects the flexibility of binary trading fatally. Some of these limits include.
- Withdrawal limit/ intervals
- Deposit limit/intervals
- max/min amount per trade
- Time between withdrawing/depositing and actually having the money in your account
All these limits and many more are greatly affecting flexibility of binary options trading.
From the issues out lined in the last 3 paragraphs above, Blockoptions has resolved in to creating and a completely trustless, independent, transparent and decentralised platform for the binary trading industry. It would be 100% on ethereum main chain with BOPT a standard ECR20 ethereum token as an in trade currency and dividend for token holders.
To achieve the 100% onchain platform, BlockOptions.io won’t need account registration, off-chain server side, additional database, man power to audit funding/trading/withdrawing, but only reply on ethereum blockchain.so everything would be done independently and automatically.
There are many ICOs out there but Blockoptions is one of the few projects on ICO with a complete MVP version which is currently being tested by project adopters all over the world.
We already have 121 successful trades and counting.
To test our mvp go here demo.blockoptons.io.
You can check our white paper to see how we improve this to suite just what the binary options industry needs.
Token holders would benefit in two ways. From token increase in value due to broad adoption and from profit that comes from fee per trade. So our investors benefit both qualitatively and quantitatively.
We welcome all to join to the quantum leap movement in binary option industry..
E-mail: [email protected]
Visit our website: https://blockoptions.io
Our bitcointalk thread: https://bitcointalk.org/index.php?topic=2039087.msg20287248#msg20287248
Join our bounty campaign: https://bitcointalk.org/index.php?topic=1698635.0
Our slack: http://blockoptions.slack.com
Our qq group: 450325068
Follow us on Twitter: @blockoptions_io
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