Jeremy Gardener from Augur (presentation) - CoinCongress 2015

Summary: Jeremy Gardner on Decentralized Prediction Markets (Augur)

Jeremy Gardner presented Augur, a decentralized, peer-to-peer prediction market platform built on Ethereum. The core concept is to allow anyone to create global markets for predicting any future event—from political outcomes (e.g., Super Bowl results, election probabilities) to commodity prices.

Augur decentralizes investment and betting by enabling users to aggregate global beliefs. The system operates as a "full loop incentive system," where users are rewarded for participation through betting, market making, and, critically, honest reporting on event outcomes. This reporting mechanism is maintained by a "reputation" token, which incentivizes accurate participation and prevents single points of failure.

The presentation highlighted the massive potential of these markets, estimating the global peer-to-peer betting scale at $3 trillion. Gardner emphasized that consistent, honest reporting is highly valuable, comparing the effort to earning significant annual income.

Key Details:

• Main Topics:
• Decentralized, peer-to-peer prediction markets (Augur).
• The function of the "reputation" token as an incentive system.
• The economic potential of global online betting and market prediction.
• Regulatory considerations for decentralized platforms.
• Key Quotes:
• "The fluctuating price per share reflects the collective probability of that event occurring."
• "The system utilizes a 'reputation' token, which rewards users with a share of trading fees for reporting on event outcomes."
• "The effort [of honest reporting] is highly valuable, comparing the effort to earning significant annual income."
• People Mentioned: Bernie Sanders, Rand Paul, Gary Jeltson.
• Bitcoin Price: Not mentioned.