Hedgy Raises $1.2 Million for Smart Contract-Powered Bitcoin Derivatives

Bitcoin derivatives startup Hedgy has raised $ 1.2 m in new seed financing from a group of 10 financiers that includes Draper Fisher Jurvetson partner Tim Draper, Salesforce CEO Marc Benioff and Sand Hill Ventures.

In combination with the statement, Hedgy has also launched a new derivatives product aimed at commercial bitcoin miners.

Miners that utilize the derivative can successfully secure a future price at which they can offer bitcoins, utilizing a clever contract to settle the deal on the bitcoin blockchain.Continue reading at CoinDesk CoinDesk

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