764: He Raised $5.3m in Token Offering on Etherum Blockchain to help you bet on future events

Jack Peterson. He's the co-founder of Augur which is a decentralized, prediction market platform that runs on the ethereum decentralized network.

Famous Five: Favorite Book? – Handbook of Applied Cryptography What CEO do you follow? – Elon Musk Favorite online tool? — Ethereum How many hours of sleep do you get?— 8 If you could let your 20-year old self, know one thing, what would it be? – "Don't spend too much time on impractical things"

Time Stamped Show Notes: 01:10 – Nathan introduces Jack to the show 01:28 – Augur is a decentralized prediction market platform 01:34 – The platform exists on a ethereum decentralized network 02:09 – Bitcoin is the first blockchain which was initially intended for payment 02:19 – Ethereum is a blockchain that is flexible, you can upload programs where people can execute their programs 02:38 – Augur is a set of programs that run on the network of ethereum 02:54 – The founder of ethereum was on Episode 758 03:11 – Augur has a set of smart contracts on ethereum that people run 03:57 – Augur is currently finishing their beta test and it is not yet live 04:02 – Their smart contract code is undergoing security audits 04:12 – Jack shares how to use Augur 04:27 – The aim is to make the experience similar to accessing a regular website 04:40 – Augur is a venue to bet on any world event 04:49 – For example, making predictions with politics 05:40 – The market you create is where you can buy and sell shares of the event 06:25 – An example scenario: the Super Bowl 06:40 – A market is where someone can place their bet 07:10 – In a normal sportsbook, people can bet on the winner 07:19 – Who will win the Super Bowl? This is the market on Augur and people can place their bets 07:37 – You can buy and sell shares of any of the outcomes 08:17 – The people in the market set the price of the shares 09:06 – With the Super Bowl, there will be multiple outcomes 09:28 – When you set-up the market, you set-up the order book for each of the outcome 10:05 – You could place a bet by buying shares of the outcome 10:41 – When your bet wins, the value of the shares go up and if you lose, it will be zero 10:59 – "You're betting on how likely the outcome is to happen" 11:27 – Jack shares how someone who doesn't have any experience in crypto can participate in Augur 11:35 – First thing you need to do is get the crypto currency (you can use your credit card) 12:01 – Augur isn't involved with any platform that exchanges dollars to crypto, so you have to get it from third-parties 12:30 – You can buy ether from Coinbase and use the ether to place bets on Augur 13:10 – If you already have ether, you can already participate in a market 13:55 – Augur has an embedded plugin similarly to Paypal which is for Coinbase and ShapeShift 14:25 – If you signed in, you will have the ether to bet 15:05 – You can create a market on the trading page 15:37 – You're betting with whomever wants to participate in the market 15:48 – The person who creates the market will set-up an order book with actions 16:51 – Jack did a Token share 17:07 – "Our token is called rep" 17:58 – Token has raised $5.3M in August and September of 2015 18:10 – It was a $5.3M equivalent in crypto 20:30 – The Famous Five

3 Key Points: Ethereum is a blockchain that Augur uses to run its programs. There are multiple platforms available for dollar to crypto currency exchange. Maintain your focus on what's important.

Resources Mentioned: The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more Klipfolio – Track your business performance across all departments for FREE Hotjar – Nathan uses Hotjar to track what you're doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5-hour drive) to listen to audio books Show Notes provided by Mallard Creatives