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Augur is developing decentralized prediction market platform, where you can bet on future events.
HW wallet (?)
Start date: 17/11/2014
ICO Price: 1.47 USD
System: Ethereum Dapp
Headquarters: San Francisco, California, USA
Augur’s prediction markets provide powerful predictive data – you can think of the current market price of any share in any market as an estimate of the probability of that outcome actually occurring in the real world. For example, a share priced at 64 cents has a 64% probability of happening.
The accuracy of prediction markets rests in the idea of the “The Wisdom of the Crowd”. This states that the average prediction made by a group is superior to that made by any of the individuals in that group. Markets are the perfect way to aggregate this collective wisdom – which is made up of all the information, analysis and opinion held by members of the group. With these individuals buying and selling shares in the outcome of real-world events, based on their personal knowledge and opinion, the market prices reach an equilibrium that reflect the opinion of the entire group.