Renowned Futurists Merkle, Hanson on the Future of Government Using DAOs and Prediction Markets
In May, Bitcoin Magazine covered the spectacular launch of The DAO, a new kind of organization created and run using blockchain software rather than conventional corporate structures. The DAO ‒ an acronym for Distributed Autonomous Organization ‒ is similar to an open venture capital fund based on Ethereum smart contracts and rapidly became the world’s....
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Sixteen years after Robin Hanson published a seminal paper on using prediction markets to inform governance decisions, his ideas have found a home in the Ethereum community. The associate professor of economics at George Mason University and researcher at Oxford's Future of Humanity Institute first coined the term "Futarchy" to describe a new form of governance that uses data from prediction markets to provide input. Since the article's original publication, Hanson has traveled the world teaching classes, pitching businesses and making appearances at conferences about Futarchy.....
Gnosis shaped its DAO based on the concept of futarchy. Gnosis, an Ethereum-based platform that facilitates betting on events and other metrics, revealed plans for its own Decentralized Autonomous Organization, or DAO, called GnosisDAO.“This will have the effect of progressively decentralizing Gnosis as a project using a native governance framework powered by their token economy, bringing governance to the coming internet of value,” according to a Monday public statement sent to Cointelegraph. In addition to its prediction markets wing, Gnosis has a multisignature, or multisig,....
Futurists share their views on technological evolution in the next decade. Bitcoin may play an important role in reforging our financial system. Over the past decade, numerous of technological developments have been introduced to the world. We've evolved to using smartphones with apps that allow us to be connected to the entire world at any given time. Cars are driving themselves; robots are getting close to being 'real' humans. A lot of the key aspects in our world are still up for massive improvement. Bitcoin is one of these inventions that could be set to change the way our financial....
Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test."Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools," explained Jeremy Gardner, the Director of Operations at Augur. "Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur."However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets....
Betting can be used to predict the future. That's the crazy idea behind prediction markets. Here's how they work and where cryptocurrency fits into the picture.