People can make some pretty strange decisions those pants with that shirt really. But when you group us in a crowd, We have an uncanny ability to make smart decisions and even predict.
The future predictive markets are all about buying and selling shares based on the outcome of future events. It's like stock market trading only people can bid on everything from the weather to sporting events.
Each wager is an opinion and if we harness those opinions on a grand scale we can build the most powerful forecasting tool.
Mankind has ever seen that's where augur comes into play.
Auger is a decentralized open source prediction platform. Anyone can use, create markets, buy shares, report on outcomes. All while adding each individual's knowledge to the crowds predictive muscle. Augur works using blockchain technology to rally the power of the crowd.
First a user creates a prediction market for example, will a penguin get elected president in 2016. Next people place wagers using a simple market-based odds system. When the event passes the crowd verifies the results participants are rewarded for honest recording and of course for bidding on the correct result. Augur opens predictive markets to the entire world putting the forecasting power of the crowd to the ultimate test.
