Country: United StatesAugur Logo
Year: 2015

  • Augur leverages the blockchain to form a decentralized prediction market where users will be able to purchase shares that correspond to the likelihood that future events will occur
  • The developers are hopeful that this platform will become the most accurate way to predict future events such as stock market movement, elections, sports, etc
  • Since the system is decentralized, it will be very difficult for governments to shut it down
  • Companies can view insights from this tool to understand the likelihood of future events occuring and can plan ahead accordingly

Concept

  • Augur allows users from all over the world the ability to vote on whether or not future events will occur, such as sporting events or political outcomes, and receive a payout if they voted correctly
  • The system lives on the blockchain so it is decentralized, which makes it nearly impossible to shut down which is what happened to other similar platforms in the past
  • While many see this as a possible gambling platform, Augur’s developers are publicly promoting the idea that this tool will be used to better predict future events, as everyone who votes is forced to contribute funds so that they have stake in the vote
  • The developers hope that eventually users will look to this tool as the most accurate predictor of future events occurring

Consumer Benefits

  • Users will be able to trade shares that correspond to a vote of yes or no on whether a future event will occur so that they can receive compensation if their vote is correct
  • Eventually, this platform may be one of the most accurate prediction models for stock markets, national elections, sporting events, etc.

How It Works

  • A user will have the ability to post a yes or no question on to the platform such as “Will Hillary Clinton win the 2016 US Presidential election?”
  • Users can then purchase shares of either yes or no, each with a price that will be determined by the community based on their overall perceived likelihood of the event occurring

Illustration

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