Our new Disruption by Blockchain series aims to highlight companies that are leveraging the incredible potential of blockchain technology to disrupt and revolutionize their industry. Through one on one interviews, we'll speak directly with industry leaders to cut beyond the hype and get directly to the heart of practical use cases and examples of how it will change the world, one industry at a time.
The following is an interview we recently had with Ophir Gertner, Advisor at Stox.
1. What’s the history of Stox? How and where did you begin?
OG: Stox is an open source, Ethereum based prediction market platform, where users can make their predictions to generate their portion of a stake for a specified event. Stox was founded in July 2017 and completed our ICO in August of 2017 after raising 148,000ETH.
2. Who are the founders and key team members?
OG: As a crypto-currency and FinTech entrepreneur, I founded Stox with Moshe Hogeg, Founder & Chairman of Singulariteam Group), with partners of Invest.com.
Our key Team Members are:
Yossi Peretz, Chief Executive Officer
Tamir Berler, Chief Commercial Officer
Amit Maor, Chief Technology Officer
Niv Abramovich, Chief Marketing Officer
Notable members of our Advisory Panel are:
– Executive Director, Marek Lorinc
– Eyal Herzog (Bancor Co-Founder)
– Robin D. Hanson, Associate Professor, Economics, George Mason University
– Leonid Beder (CoinTree), Blockchain Security Architect
– Abe Othman, PhD, Visiting Scholar, The Wharton School, (University of Pennsylvania)
3. What problem are you solving? Who are you solving it for?
OG: Trust through centralized prediction markets creates a false sense of security and belief in a perceived outcome. We solve this issue for those interested in wagering on predictions of outcomes of popular events.
4. What is your solution to this problem?
OG: By focusing on decentralisation and relying upon the ‘wisdom of the crowd’ concept, Stox is solving the problem of falsified trust for clients who wish to predict the outcome of a variety of events in a fun, transparent and profitable manner.
5. Why is your industry ripe for disruption?
OG: Making predictions on major events has been part of human interaction nearly since the dawn of time. Harnessing the ‘wisdom of the crowd’ has proven basis that very often, the crowdsourced answer is the closest to correct. This is exactly the power that the Stox platform unleashes, and as it is built on the blockchain, the disruption value is tremendous. The removal of the need for ‘trust’ by placing things in a transparent form on the blockchain for answers of predictions is the key disrupting factor our platform offers, to unleash the wisdom of the crowd.
6. What’s the future of your industry?
OG: I believe the future is definitely bright, and the amount invested in time and finances by average people around the world, the attention from regulatory bodies and even the “FUD’’ (Fear, Uncertainty and Doubt, an acronym used frequently in the cryptocurrency world) being spread by some leading bankers and figures in finance contributes to the fact that this technology is not going away.
Prediction #1: I predict that the dominancy of Bitcoin will be below 25% in 2019. Its current status is with a Market Cap of $393,095,058,483; 24-hour Volume of $26,242,856,818 / BTC Dominance: 35.9%
Prediction #2: I also predict that ICO’s will remain as a useful fundraising tool, but will change in form and in different jurisdictions
Prediction #3: Lastly, I predict that more Tier 1 companies will announce their intention to implement blockchain technology and we will see more mergers and acquisitions in this space by these companies and other successful ICOs for companies of all sizes.
At Stox, my vision for founding is to give those who love predicting the outcome of popular events a simple and effective means to do so via blockchain technology with cryptocurrency. We believe Stox will be an innovator in prediction markets platforms, and are excited to see the industry growing and user adoption increasing. We have on average over 500 unique users registering to our site, with over 1,500 predictions being made daily.