The Last Ticket to BIP001 to Be Sold via Decentralized Blockchain Auction

News and Analysis

The last ticket to blockchain conference BIP001 to be held in the city of Odessa July 7 will be sold via blockchain platform eAuction. The platform has been developed for privatization of public property and other auctions.

The auction will be powered by five trade platforms, including ForkLog, Distributed Lab, KUNA Bitcoin Agency, and IDF Reforms Lab. In order to participate in the auction, one may register at one of those platforms and place a bid.

Pavel Kravchenko of Distributed Lab commented:

“Why this auction? Its ideologists, David Kiziria and Lasha Antadze of IDF, have already old about enhancing auction transparency and tackling corruption on numerous occasions. Distributed Lab has developed a unified platform linking trade platforms together, and this is our first public test. Initially, the auction will deal with lease rights for public property, and then with collateral property of banks. We’ve got particular agreements with all involved entities. So, there’s some reason for businesses to create specialized trade platforms connected in a unified network, as the tendered items will be available to all users. The platform’s code is open-sourced, so you may use the auction for your own purposes. The platform’s business model is about earning from registration fees.”

Those willing to participate in the auction should undergo the following procedure:

  1. Sign up at one of the trading platforms.
  2. Apply for participation and obtain a unique code.
  3. Pay registration fee to the tune of 1 UAH (via Privat24) and specify the received code in the payment details.
  4. The registration ends on Tuesday, July 5, at 2 p.m. (Kyiv time). The auction will kick off immediately afterwards.

The winning bidder will be announced on the same day at 7 p.m. The starting price comprises 200 UAH (around $8), while current cost of tickets is 0.5 BTC (around $350 at the time of writing).

You may place any bid exceeding your latest one. The one having the highest bid by the end of the auction, has the right to buy the ticket for the proposed price. In case it doesn’t happen in two hours upon the end of the auction, the next highest bid gets the right to buy the ticket, and so on.

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