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Prediction markets are considered one of the most promising applications of blockchain technology. Although the concept and some early implementations have existed for years, decentralized prediction markets present a number of advantages to their centralized counterparts.

Paul Sztorc joins us to discuss Truthcoin, a “Peer-to-Peer Oracle Protocol which absorbs accurate data into a blockchain so that Bitcoin-users can speculate in Prediction Markets”. We dive deep to explore the advantages of decentralized prediction markets, their various real-world applications, and their potential to revolutionize the creation and propagation of knowledge in our society.

On this episode, we are thrilled to introduce a new co-host on Epicenter Bitcoin, Meher Roy. He has a biochemical engineering background and previously worked as an adviser to HyperLedger. Since discovering Bitcoin, he spends most of his free time understanding blockchain technology and its potential impact on our lives. We’re confident that Meher will bring a high level of understanding and critical thinking to the topics we cover, and we’re certain our listeners will be as happy as we are to have him on the show.

Topics covered include:

What are prediction markets and why they are useful

The mechanics of prediction markets

The potential for prediction markets to provide useful aggregation to today's abundant information

The parallels between crowd intelligence and artificial intelligence

The different components of Truthcoin and the state of the project

How Truthcoin differs from other decentralized prediction markets

Links mentioned in this episode:

Sponsors:

Ledger Nano: Smart card security for your Bitcoins - Get 10% off your first order when you use the code EB09 at ledgerwallet.com (valid until 09/30/15)

Show notes

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Epicenter Bitcoin is hosted by Brian Fabian Crain & Sébastien Couture.

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