Prediction market has emerged as one of the most intriguing platforms amid strong links with blockchain technology. However, there are some flaws associated with prediction markets to the extent that some of them ended up facing lawsuits and conspiracies.
Presently, these markets have to endure bad user experience, also known as UX and poor payout. Apart from this, a few prediction markets that serve some specific subjects suffer from random and unquantifiable results. Taking a strong lesson out of all this, a new company Bispex has made its debut. Bispex is a one-stop cryptocurrency prediction market platform. The newly launched company is equipped with the latest features and sleek interface.
The prediction market service Bispex will emphasize on cryptocurrency price moves. Located in Seychelles, the company’s main goal will be to make predictions regarding upcoming cryptocurrency price changes and the entire market status.
Ashish Babar has assumed charge as CEO of Bispex. Mr.Babar is a young blockchain-believer. He will be joined by several other veterans and renowned professionals like Mike Kwon as CTO, Patrick Chun as CMO, and Desiree Yoo as CSO. All these experts will form the executive body of Bispex.
Despite the presence of several prediction markets, there is a dearth of companies that solely focus on cryptocurrency price changes. Bispex is of the view that the subject is quite interesting as cryptocurrencies are decentralized and face frequent price variations.
Mr.Babar feels that one of the major problems that have plagued the prediction market sites is the lack of information which revolves around preferences and user behavior.
Bispex accumulates price details from many renowned cryptocurrency listing websites and other sources to ensure the authenticity of the results. Apart from making accurate predictions, the founder believes that Bispex may also prove helpful in improving the cryptocurrency industry.
The presence of a market that mainly emphasizes on cryptocurrency price will attract crypto- enthusiasts, which may include professional crypto traders, into the competition.
The traders will be instrumental in offering professional inputs and help new traders comprehend the market in a better way. It will, in turn, assist the new traders to avoid making risky decisions that may cause losses. Additionally, prediction markets may also emerge as survey sites that display the overall mood or behavior of several in cryptocurrency trading circles at a particular point in time.
As of now, Bispex is focusing on developing its own coin, which is all set to be listed on several exchanges by November 2019. Apart from the prediction market, the platform is also planning to launch a cryptocurrency exchange service in the coming time. The exchange is likely to allow trade mining, trading, and margin trading for its users.
Mr. Babar said,
We’re the new contenders [in the prediction market sector], but we’ll make sure to be at the top. An accurate prediction market with fast asset liquidation — you can bet on it with Bispex.