In a world of misinformation, truth and facts are priceless commodities. Using the incentive structure of Prediction Markets, the Zeitgeist protocol helps create signals of what the most likely scenarios will be in any given situation.
As per Professor Robin Hanson’s paper “Vote on Values, Bet on Beliefs”, the economic nature of prediction markets means that the most likely outcomes can be forecast as participants put their money where their mouth is.
a Layer 1 Prediction
It’s quite possibly the most advanced of its kind, that allows anyone to create a market on just about anything - and gain unique insights into what a likely outcome will be.
Pushing the envelope on this mechanism, we are introducing the governance method of “futarchy” - where decisions are made based on prediction market signals instead of mere one man one vote democracy.
Prediction Markets for governance is a groundbreaking form of consensus, and was labeled as “futarchy” by the prominent prediction market specialist Prof. Robin Hanson.
This form of governance allows corporations, communities, or organizations to set a market based on a decision they want to make, and then release this market to the public, asking them to make predictions on which scenario would be the most successful.
Futarchy is perfect for Decentralized Autonomous Organizations (DAOs), and Zeitgeist as a decentralized organization will be implementing this form of governance as the primary consensus mechanism of its protocol.
Meet the Team, Learn More about Prediction Markets, Start Your Experience with the Truth