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Vitalik Buterin on Prediction Markets and Info Finance
- Prediction markets are seen as a gambling tool but Ethereum’s co-founder, Vitalik Buterin views them as an information platform that can be helpful in fields other than voting processes.
- Prediction market can decide the best policies for society in Futarchy an alternative governance system.
- Prediction markets have something unpredictable on stake, which sets them apart from regular news and opinion polls and make the resulting market odds more credible.
- Vitalik is interested in Polymarket, a platform that allowed people to bet on who would triumph and updated probabilities based on the election in real-time, providing less distorted images of the odds.
- Prediction markets are just a small part of Vitalik’s vision of info finance, a model where prediction markets could be used as incentives to reveal helpful information for governing, scientific research, social media, and content moderation.
- The use of artificial intelligence could create a larger market in which minor, niche questions could be predicted.
- Info finance could be used to help decentralized autonomous organization (DAO) governance by allowing prediction markets to suggest likely outcomes.
- Prediction markets could provide quick insight into credibility in scientific research.
- The future of info finance could be instrumental in identifying projects that contribute to public goods funding.
- Vitalik’s vision is that info finance can bring to science, governance, and public trust an opportunity to create a new way to source credible information and make decisions.
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