Rio 2016 Olympics are amongst us and I thought it was a good time to share some views regarding prediction markets using the blockchain, namely the Augur project.
Augur is a blockchain based platform project that aims at rewarding users for correctly predicting future real-world events. Here a short explanatory video:
So let's say Augur would be already out of beta, it would be nice to try to predict the outcome of say a hockey match, who would get gold, silver and bronze medals, etc.
On Augur, REP (stands for 'Reputation Token') is the cryptocurrency that would feed the predicting market.
Here a RippleCharts' chart from the REP token being traded on GateHub (a Ripple Gateway):
REP's volatility is pretty high and currently trades on a $3-9 range.
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@argsolver