We are constantly predicting the future. From looking out the window in the morning to determine the days weather, to what to wear to the office party, our decisions are based on our prediction of what will take place in the future. We don’t think of it this way because many of the day to day decisions we make are predictable. The weather is “primarily” predictable. The office party is predictable. Generally, we’re not too far off.
These are a small and trifle compared to prediction forecasting. What stocks are going to be on the rise next month? Who will be willing to take out a long term loan in the next six months? These are the questions companies are asking. And prediction analytics is providing the answers.
With the dawn of artificial intelligence, predictions have grown exponentially. But the size of the growth has been matched in complexity. The work is done by individuals with PhDs in data science, who are scarce and expensive. The access to data is limited and it takes months to gather all the information necessary to answer a prediction. In other words, it’s very expensive to access prediction analytics, leaving only the largest corporations with the funds to use the tool.
The Answer in Blockchain
In response, many have turned to blockchain to help bridge the gap between the prediction analytics and smaller companies. Augor is an example. They use a decentralized network to power prediction markets in order to create a surprisingly accurate forecasting tool. Augor takes this technology to a unique field, pop culture. You can make predictions about government elections, sporting events and award show outcomes. Shares can be bought for each outcome. If you are right, then you get more in return. If you are wrong, you lose the money.
The decentralized market of Augor provides a supply and demand economy for each prediction. The more people buy shares on a particular outcome, the more the price for that share rises. This provides users with the opportunity to buy low and sell high.
Gnosis provides a similar service. They combine market driven forecasting with Ethereum’s blockchain to provide answers to some fun questions. Gnosis Olympia provides a playful environment for users to correctly guess the outcome of pop culture events and win tokens.
More seriously, the technology behind Gnosis can provide fairly accurate levels of price discovery for rare items like artwork.
Predictive Analytics, Blockchain, and Crypto Trading
While Gnosis and Augor are bent more towards pop culture, Stox is a blockchain that uses a decentralized platform for the mainstream prediction market. It can be used in a playful way to predict things like the weather and sporting events. But it can also be used to answer questions regarding the rise and fall of cryptocurrency prices. It can answer questions like “which coin other than Bitcoin will have the highest market cap in six months?” This gives day traders more access to valuable information than ever thought possible.
Endor is another cryptocurrency that pairs blockchain with prediction analytics. While there are quite literally thousands of different initial coin offerings (ICO’s) right now, Endor is one of the more talked about coins.
Endor has become known as the “Google for predictive analytics”. Through years of experience at MIT, Endor has applied Social Physics technology and massive machine power with predictive analytics. The result is accurate predictions made accessible to all. It only takes a day to get the answer, rather than months. It will cost hundreds of thousands of dollars. But considering the millions that it has traditionally cost, it is much more affordable.
Endor is especially powerful for individual crypto traders. Now you’re able to get accurate answers to simple questions like, “which coin is likely to increase by 50% over the next four months?” Endor provides these day traders with incredible amounts of AI technology, right at their fingertips. It pulls data from everywhere. Crypto holders, blockchain, marketing experts, Reddit, and even Twitter are used. The data is entered into the Endor.coin protocol and provides accurate results. Users pay for the service with the Endor token, EDR. App developers can even use the platform to build a predictive app. Each time their app and the engine is used, the app developer will be paid in EDR.
We are living in an unprecedented time. The technology that is being developed is changing the world before our very eyes. Artificial intelligence and blockchain have been at the heart of this revolution. But they haven’t always been joined together. Now they have. And it’s impressive to see.