People can gamble on almost anything; elections, sports, the Olympics. But bets in the immediate future will be made on the blockchain, with terms and markets defined by users.
Gnosis, a new Ethereum-powered platform, aims to bring prediction markets to the masses and allow anyone to create a market. Matthew Liston, Strategist at Gnosis, recently delivered a presentation outlining the platform, its aims, and applications.
Described as a ‘decentralized, prediction market’, Gnosis is based on the Ethereum blockchain. A prediction market allows anyone, anywhere to buy and sell shares in an outcome of any event. Such a decentralized platform should encourage those with unique and valid information or insights to come forward to the market and ‘price in’ their information.
Gnosis is not the custodian of any funds, all of which are held in smart contracts. This comes with the advantage that no counterparty risk is borne by users, so they do not have to trust Gnosis. But more importantly, the Ethereum blockchain will allow Gnosis to become a permissionless platform for all.
Furthermore, it is what you can derive from prediction markets, as Liston explained, that will generate interest in Gnosis,