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A Decentralized derivatives markets, built on Ethereum.
Velocity is a decentralized options platform that allows users to enter into a collar option using a smart contract on the ethereum blockchain.  In other words you can place a bet on whether the price will rise "long",  or fall "short".  2 options, Its that simple...  I put up a small amount of ETH and make a prediction.  After 5 blocks if you chose wisely you win!!!  

https://youtu.be/4ed0TNicfEI
This is the site blog:   http://blog.velocity.technology/

Heres the Demo:   https://demo.velocity.technology/

Because its a smart contract the payout is automated.  No need to rely on any central authority or bank to pay you.
I just started playing with this so if anyone has any more info I would like to hear from you.  Looks like fun so Im very interested.  Check it out and let me know what you learn..