Informal - Prediction Markets

Prediction markets are the basis of some of the most successful startups in the blockchain ecosystem: Augur (https://augur.net/) and Gnosis (https://gnosis.pm/) ("know-sis").

They're a sort of stock market where the stocks are bets on future events. For instance, you could bet on whether Trump will stay in office throughout 2017. Currently, prediction markets are legally restricted to websites like PredictIt (https://www.predictit.org/About/WhatIsPredictIT), a non-blockchain website that is for educational purposes. (Historically prediction markets have had trouble with the law because they're seen as gambling.)

However, because prediction markets require people to bet their beliefs and be knowledgeable, they can be incredibly valuable sources of information. Unlike cable news, if you state a belief that turns out to be false, you'll lose money! Some people like Robin Hanson (https://mason.gmu.edu/~rhanson/ideafutures.html)even believe that we could have a form of government (futarchy) based on prediction markets.

Join us after work for an informal discussion over pizza :)

For more info, feel free to dig into the Gnosis white paper (https://gnosis.pm/resources/default/pdf/gnosis_whitepaper.pdf), Augur white paper (https://bravenewcoin.com/assets/Whitepapers/Augur-A-Decentralized-Open-Source-Platform-for-Prediction-Markets.pdf), and Futarchy paper (https://mason.gmu.edu/~rhanson/futarchy2007.pdf).