An Australian engineering team from Code Valley has created a technology that allows developers to contribute to a software project while retaining their intellectual property, and earn bitcoin for each contribution. 

By using this new technology, developers will now be able to repeatedly trade their specialist design expertise in exchange for bitcoin, making this the world’s first free automated market for software.

According to the roadmap, Code Valley will release this technology in three phases – Whitney, Ford and McIlroy – with the marketplace only transitioning to a new phase once it has collectively achieved a certain milestone. The Whitney release will begin in private beta. Code Valley has started accepting requests for invites to the Whitney phase of release.

“With the culmination of the McIlroy release, this technology will have become the world’s first decentralised peer-to-peer software development system, a system underpinned by the world’s first peer-to-peer decentralised currency; Bitcoin’s killer app”, Code Valley said.

Code Valley, a marketplace of software developers where they work together to design and build custom software programs, aims to empower the community with this technology, and then let the community take over, to build the vendors – the software – that the market wants.

In order to start trading in this marketplace, developers need to create their very own vendor – a program that acts as their automated assistant and ‘intellectual property guardian.’ A developer can cast their expertise into this vendor program, and it will operate in this marketplace on their behalf – continually accepting contracts, making decisions, and earning coin – all automatically.

Moreover, if a developer’s expertise is in demand, their vendor could be contracted hundreds of times, contribute to hundreds of projects, and earn its developer a continuous stream of Bitcoin. Code Valley’s development team has already deployed vendors to make up the beginnings of what will soon be a global marketplace.

“We can now have programs designed and built by the world’s foremost experts at every level of abstraction,” says Noel Lovisa, the founder of Code Valley. “This technology dispenses with formal runtime interfaces and uses no glue-logic whatsoever, making it the first development process of its kind capable of approaching optimal software solutions. Current methods will find it difficult to not only keep up on the productivity front, but will be hopelessly outclassed on a technical front as well, making this technology very competitive indeed.”

At present, this marketplace contains few vendors and is full of voids, Code Valley said, adding that this represents opportunity – anyone joining the network in its early stages will be met with limitless opportunity and almost zero competition.

The very first ‘vertical’ Code Valley will help the marketplace to secure is a Bitcoin vertical. When Bitcoin vendors enter the marketplace, any other developer in the world can contract them to integrate Bitcoin functionality seamlessly (and natively) into their own applications.

Bitcoin developers who create vendors that are part of the Bitcoin market-vertical now have an opportunity to be compensated in direct proportion to the quality of their contributions, restoring objectivity to what is currently a subjective system.