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Village Global Podcast
The State of Prediction Markets and Crypto in 2020 with Joey Krug
Aug 6, 2020
Joey Krug, founder of Augur and partner at Pantera Capital, discusses the evolution of prediction markets, the current state of crypto, and the potential of Web3. Topics include Augur's updates, scalability challenges of Ethereum, regulatory hurdles for prediction markets, the perception of betting, exploring equity and popularizing capitalism, potential of decentralized social networks, and the problem with centralized oracles.
58:47
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Quick takeaways
- Decentralized prediction markets like Augur have the potential to become widely adopted and easy to trade on with the development of scalability solutions.
- Liquidity is a key challenge for decentralized prediction markets, but even with relatively low levels of liquidity, they can provide accurate predictions.
Deep dives
Prediction Markets and Augur
Augur is the first decentralized prediction market platform that allows users to create markets and speculate on the outcomes of real-world events. It eliminates the need for a central entity by leveraging the Ethereum blockchain for peer-to-peer trading. Prediction markets have been around for a while, but Augur's innovation lies in its decentralized nature and its potential to have global liquidity pools. With the development of scalability solutions, Augur and other decentralized prediction markets could become widely adopted, low-cost, and easy to trade on.
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Discover
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