A new startup called MonopolyElectronicBanking is aiming to offer a way for people to open up the world of digital money to the public via their laptops, tablets, smartphones and even video game consoles.
MonopolyEbanking is the brainchild of Eric Rousset, the founder of MonopolyGames, and Nick Bostrom, the cofounder of OpenAI, and they’ve teamed up to create an open source version of MonopolizeElectronic.
It’s a free, open source application that uses a cryptographic mechanism called “proof-of-work” to verify a transaction.
The idea is to let the public participate in the creation of digital currencies, but not be bound by their own digital wallet or financial history.
Rousset and Bostram started the company as an incubator for companies interested in the open source blockchain, which has been adopted by more than a dozen companies including Ethereum and Ripple.
They have also partnered with other startups like the University of Toronto’s Crypto Lab, to create a cryptocurrency blockchain called BitcoinEthereum.
Roulset, who also serves as CEO of Monomind, told TechCrunch that the company will be looking for people who are interested in building an alternative to the existing financial infrastructure.
“There are a lot of great companies out there that want to build something like this, but they don’t have a real product,” Roussets said.
“If we can get a bunch of people together and do this, we could get a lot done.”
Roussets and Bontrom want to give the blockchain a go with their Monopoly Ebanking application, which uses a “monopoly” format to create virtual currencies that can be traded and stored securely on a decentralized ledger.
They want to make this as easy as possible for people and businesses to get involved.
“What we want to do is build something that’s actually useful, and people will be able to use it,” Roulset said.
In Monopolyelectronic, each user gets a MonopolyCoin, which they can then use to make virtual currencies in order to buy things online.
Users can also sell these virtual currencies and get paid for doing so.
The company will also be working with a number of financial institutions and blockchain companies to create new virtual currencies.
Rous sets out to create “monopolized” financial services that are built around cryptocurrencies.
“We think we have a really good idea of what it would look like if you could have a completely decentralized, open-source financial infrastructure that everyone could participate in, but that also gave you a way to be able share a lot more information about it,” he said.
Rolyset and his team have been working on Monopoly Electronic since August, and it will be launching later this year.
It’s looking to be ready for its public launch in early 2018, with an initial coin offering.
The team also wants to build a blockchain for virtual currencies called MonopoloEthereum that would make it easier for users to store their virtual currencies on the blockchain.
For now, though, the company is focusing on its early adopter community, and hopes to have a wide range of users sign up in the coming months.
The startup will be working to build MonopolyEsports and MonopolySports into open source software, Rous set out to do that earlier this month.
The team hopes to eventually launch a monopoly gaming application that will allow people to play Monopoly games on the web, but the team has no specific timeline for when that will happen.
The Monopoly project is just one of several startups looking to build blockchain applications that will be open source later this summer.
One such startup is Monopolominspires, which is building an open- source application for cryptocurrency mining and mining operations.
Other companies include Ethereum, Ripple, and BitcoinEther, as well as the University at Buffalo’s CryptoLab.