Gambling on the future: decentralized prediction markets - a podcast by Naomi Brockwell

There’s this idea of wisdom of the crowds, where if you poll enough people you’ll eventually converge upon the truth. But people are quick to give opinions, and not too careful with those opinions when they’re cost-free.

What if you ask them to bet money on their answers? Things start to get a little more interesting.

It turns out that when people have skin in the game, they are usually more careful with their opinions. This is what makes betting markets so interesting.

But rather than harnessing the power of prediction markets, the US started targeting them.

Enter decentralized prediction markets, like Augur, with no middlemen or gatekeepers. They allow consenting individuals to voice their opinions whilst laying money on the line.

I explain how they work, and why they could be an incredibly powerful tool for predicting the future.

By C. Edward Kelso and Naomi Brockwell
https://twitter.com/CryptoKelso

Visit Augur:
https://www.augur.net/

Learn more about DARPA’s proposed prediction markets:
http://mason.gmu.edu/~rhanson/policyanalysismarket.html

DARPA’s announcement of closure:
https://web.archive.org/web/20040807091819/http://www.darpa.mil/body/NewsItems/pdf/FutureMappressrelease2.pdf

See the current odds from centralized betting markets across the world:
https://www.electionbettingodds.com/

If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell

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https://Naomibrockwell.com/cryptobeat

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Note: This episode was not sponsored in any way by Augur. I just like decentralized things.

https://odysee.com/@NaomiBrockwell:4/Gambling-on-the-future-decentralized-prediction-markets:a?r=JBjAdauAdeysMGVDbHMJpNSQzbcMyqYg

https://youtu.be/f3kH9QMn3Q4

Further episodes of NBTV: Your Money, Your Data, Your Life

Further podcasts by Naomi Brockwell

Website of Naomi Brockwell