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This 31-Year-Old Is Trying to Revolutionize Cryptocurrency Trading

  • Michael Oved created AirSwap, a decentralized exchange
  • Business could undermine China’s efforts to crack down
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AirSwap Plans to Revolutionize Digital Exchanges

Michael Oved helped Virtu Financial Inc. become the most consistently profitable market maker in the history of electronic trading. Now he has his sights set on revolutionizing how digital currency exchanges operate.

The new company he cofounded, AirSwap, sounds like a contradiction in terms: A decentralized exchange. Made possible by the nascent technology of the ethereum blockchain, there’s no central authority around which buyers and sellers gather. Instead, a computer program known as a smart contract lets investors find each other anywhere in the world to trade cryptocurrencies. There are no user accounts and identities are hidden as trading is solely on a peer-to-peer basis.