Forget Bitcoin. The Blockchain Could Reveal What’s True Today and Tomorrow

As far back as the 1880s, people stood on the curb outside the New York Stock Exchange taking bets on political elections, and newspapers would report the odds as a way of predicting the results at the polls. In the years since, economists refined the concept, and more recently, prediction markets have tapped into the wisdom of the crowds via the internet, forecasting everything from presidential races to sporting events to stock prices.

The concept took a hit in 2012 when a major site shut down amid financial irregularities and pressure from US regulators. But Silicon Valley hasn’t given up on the idea. It now sees a new way of building markets that predict the future: the blockchain.

Cade Metz

Full Story: https://www.wired.com/2017/03/forget-bitcoin-blockchain-reveal-whats-true-today-tomorrow/