Cryptocurrency in Focus: Augur Bets on Politics
Summary
Or, maybe your gut is telling you the Eagles win the Super Bowl this year -- or that U.S. Sen. Elizabeth Warren is going to become the next president. These are the types of bets that find a home on Augur, a decentralized predictions marketplace built on top of blockchain platform Ethereum. For a small fee, users of Augur can create markets across an infinite array of topics -- such as Bitcoins value, political wins or future football champions -- and then buy or sell shares with ETH based on the predicted outcome. While a gambling/trading hybrid of sorts, Augurs method of crowdsourcing outcomes has the potential to change the way humans can collectively verify truth. Prediction markets are a powerful prognostic tool that harnesses the free and open flow of information to reveal truth without borders.
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