27 Sept, 2019 . 5 min read
CloseCross is a decentralized market prediction platform that is aiming to democratize financial markets to the public and allow financial inclusion to arise. CloseCross is creating a paradigm shift for the exchange traded derivatives market and giving people a valid, fair and transparent alternative to the current derivatives setup.
Consumer preferences and requirements are changing, value is migrating, and many mass business models went into niches yesterday or became irrelevant. In order not to lose their position, companies have to anticipate the desires of consumers, and not just react to the already formed demand, as before. It is no longer enough just to satisfy needs better than competitors. It is necessary to rethink the needs, offering a new experience of their satisfaction. To be not “better than competitors”, but “different from competitors”.
So, what makes CloseCross different?
Often, large companies attract candidates with free dinners, playgrounds in the office, and other goodies. But not every company, unlike a startup, can provide an employee with a real opportunity to influence the business.
“We find internships to be a great mutually enriching experience. By giving the millennials and post-millennials a chance to get up close with our concept and operations, we receive the much needed candid feedback on what’s important to them. This helps us shape our product and messaging to fit the changing value system of the new consumer and financial market participant”, says CEO and founder of Close Cross, Vaibhav Kadikar.
There is a major benefit that is often overlooked resulting from internships: the positive impact on the community. In many cases, internship programs provide communities with a vehicle to improve their ability to manage and compete in an increasingly changing economic environment.
Have you ever wondered how internship at CloseCross looks like? To get a sense of what it’s like we have asked our intern, to talk more about his experiences and expectations.
Meet Dhruv, who joined CloseCross earlier this summer and working there as a business analyst intern.
Why intern with CloseCross?
CloseCross is now becoming a mature tech start-up. The global team is innovative, diverse, hard-working and passionate about the concept and company goals. Even as an intern, I was enthused with the dynamic and collaborative work environment. I decided to intern with CloseCross because I wanted to further enrich my knowledge of the fintech industry. Working in CloseCross has provided me the opportunity to expand my network and work with a wide range of stakeholders from different backgrounds.
During the course of the internship, I was given the opportunity to shadow the long-term strategic planning sessions of the business, and have taken responsibility for research that will contribute towards shape the business and marketing strategy. This has been made possible by the range of different people I have been able to shadow throughout the internship as well as the unique and dynamic environment of innovation and the collegiate atmosphere.
What have you learned from the experience?
I’ve been able to see how a maturing tech start-up operates and adapts to the ever-changing and fast-paced environment. This internship has given me an insight into the process of implementing a unique idea into a viable tech business. This is something I can use not only for my degree, but also in future working environments.
I have furthered my understanding of triggers that drive people to trade, and key elements that are essential for UX optimization.
What’s fascinating about blockchain + fintech?
Blockchain, and its application to fintech in particular, is a really interesting space. Blockchain in recent years has been growing at a pace not seen since the internet was introduced. The security benefits are obvious — the technology’s peer-to-peer reliance is self-preserving and means security by design. It’s a natural fit for the world of finance, and the potential where efficient, verifiable, and open recording of transactions, is enormous.
Fintech is regarded as a priority for almost every major bank and has a wide range of uses both for businesses and also for consumers. The everyday use of fintech in mobile banking provides a more efficient and safer experience.
What’s great about CloseCross as a concept?
CloseCross as a market disruptor is a high potential and interesting concept. For decades, to be able to trade derivatives, one would have to use a broker — typically a major investment bank. With new technology comes new opportunity, and CloseCross does this through its unique business model.
From the Virtual Prediction Floors to being the only company in the world using a decentralized platform, the CloseCross model is highly technical whilst also being incredibly interesting.
This concept will only become more relevant and useful in the future as CloseCross aims to make derivatives more accessible to the general public and also provide different processes when it comes to trading.
What would you take with you and share with your family and friends from this internship?
I really enjoyed my time with the team, and the exposure I got to a dynamic and maturing start-up in the rapidly growing fintech sector. I would advise not to miss a single opportunity, not to be afraid to apply and declare yourself, even if the internship is designed for exclusively senior students. The main thing is your motivation. You need to have a good idea of why you need this internship. Do not be afraid to go for interviews, negative experience is also experience! In case of refusal, do not hesitate to ask what was wrong and why you did not fit. If you can show yourself as an adequate, thinking and motivated person, everything will work out. Internships in companies are an invaluable experience that should be gained from the very beginning of training. But, of course, this should not be to the detriment of study.
Would you join CloseCross after completing your studies?
Yes, I would definitely consider joining CloseCross post graduation. It has been a fantastic experience and it would be great to continue to work with the team and growing community. It’s a unique opportunity to learn about the fintech industry, work in an inclusive and stimulating environment, and make a real contribution to the business.
I do not believe in success formulas, but I agree with Steve Jobs: “Stay foolish, stay hungry.”
To be honest with the world and yourself, to contribute as much as possible and never stop learning — that’s the only way how you can achieve your goals.
CloseCross - Decentralized derivatives driving democratic participation