It amplifies the exchange of cryptocurrency to open an office in the United States in Knoxville

Amplify is a subsidiary of Substratum, an open source network that creates a decentralized Internet, founded by Justin Tabb in 2017. Substratum uses blockchain technology to allow anyone in the world to access the Internet, regardless of Internet regulations.

The Amplify exchange will work on the decentralized Substratum network, so global users can buy and sell cryptocurrencies, Weil said.

One of about 200 cryptocurrency exchanges, Amplify is one of the few that allows fiat money (dollars, euros, yen) to buy altcoin (cryptocurrency tokens) without having first bought an important currency like Bitcoin or Litecoin.

It also provides advice on investing in cryptocurrency to investors based on their finances.

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Brand promotional materials for Amplify are located in the new Market Square office space. Amplify is a technology company involved in cryptocurrency. (Photo: Michael Patrick / News Sentinel)

Amplify also offers paper trading, a fictitious account with fictitious investments that allow the user to get an idea of ​​the process before investing real money.

Weil expects the exchange to be up and running in about six months with 20 to 25 employees, which hopes to recruit locally.

Looking to Knoxville for developers, high-tech talent

Employees from 20 to 25 of Amplify will begin to grow between 50 and 60 over the next 12 to 18 months, Weil said. Most of the employees will be developers who will codify the cryptocurrency exchanges and turn them into something understandable. Some will be customer assistance and administrative staff.

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When Tabb recently moved to East Tennessee, he instructed Weil, of New York City, to look for the best location in the area.

"A lot of people said" You'll never be able to do it in Knoxville, & # 39; " said Weil.

He did his research and is not on agreement. Weil believes that the University of Tennessee, Oak Ridge National Laboratory and the city's focus on new business development make Knoxville the perfect place for technology startups.

"We want to come here and have a mutually beneficial relationship with the city," he said. "We want the rest of the country to take note".

Danny Pope, associate director of employer development at UT's Center for Career Development, said that the increase in the number of technology-focused jobs available at Knoxville would contribute to conservation.

"Right now that talent is going to Nashville, Huntsville for the aerospace industry, your biggest cities," he said. "We have a strong computer program, so yes, I think it will definitely be good for Knoxville and for students who want to stay here, whether they come from here or not."

The space amplifies

The 6,000-square-foot space above Market Square's Cafe 4 will soon be transformed into an open design workspace that can hold 50 to 60 employees.

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The developers will have standing desks, tables, sofas and chairs, as well as a telephone booth for private calls, with a whiteboard wall to take notes. The meeting / conference room will have full-height white walls and library-style escalators.

The break room will have sofas, an Xbox, a PlayStation, a foosball table and a pool table if space permits.

The space also features a full kitchen and three bathrooms with full showers.

"We want developers to have everything they need here," Weil said. "If you want to ride a bike at work, we will have space to hang the bike, if you have to go running you can take a shower here, we do not want them to do anything if they do not" I want to. "

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