#Blocktalk - Augur's Tony Sakich

## #Blocktalk Podcast with Tony Sakich - Augur Summary

1. Narrative Summary:

This episode of #Blocktalk dives deep into the world of Augur, a decentralized prediction market platform. Tony Sakich, a member of the Augur team, discusses the project's development, its unique approach to competition within the prediction market space, and the challenges of building a secure and globally accessible platform. The team is currently focused on finalizing the beta version, aiming for a full launch in the fall, ideally before the US presidential election. They've been heavily focused on security audits following recent events like the Dow hack, and are prioritizing a cautious release schedule, delaying announcements until they are certain of a launch date. Augur isn't aiming to directly compete with established sportsbooks, but rather to provide a foundational layer for for-profit ventures to build upon, handling the complex regulatory landscape. The team is actively seeking user feedback on the beta and leveraging the expertise of advisors like Ron Bernstein, a key figure from the now-defunct Intrade, to navigate the intricacies of prediction markets. A core focus is ensuring the system's resilience against manipulation through a decentralized network of reporters and reputation tokens.

2. Main Topics Discussed:

• Augur Beta Release & Launch Timeline: Current beta status, aiming for a fall launch (pre-US election), cautious approach to announcing dates.
• Augur's Business Model: Positioning as a foundational layer for for-profit ventures, not direct competition with sportsbooks.
• Prediction Market Expertise & Learning Curve: Acknowledging the complexities of prediction markets and the team’s ongoing learning process.
• Community Feedback & Beta Testing: Encouraging user testing and feedback on the app.augur.net beta platform.
• Global Reach & Intrade Legacy: Leveraging a global user base and benefiting from the experience of Ron Bernstein (formerly of Intrade).
• Security & Decentralization: Smart contract-based security, decentralized oracle network, and reputation tokens to prevent manipulation.
• Legal Risks & Regulatory Landscape: Addressing potential legal risks and the complexities of global regulatory compliance.
• Decentralization & Reporting Diversity: Importance of a diverse and decentralized user base for market resilience.
• Beta Testing Challenges: Frequent market wipes during beta testing, resulting in data and bet loss.

3. Key Quotes:

• Tony Sakich: "We're aiming for fall. We would like to have it out by the presidential election... But you know, one of those things with what just happened with the Dow, we want to make sure that our security audits are as thorough as possible."
• Tony Sakich: "You probably won't hear a date from us until it's very close."
• Tony Sakich: "I would rather just say to prediction markets in general. One is the global user base."
• Tony Sakich: "There is so much good to learn from them [Intrade/Ron Bernstein]."

4. People Mentioned:

• Tony Sakich: Augur team member
• Alex: Podcast Host
• Joey Krue: Auger Co-founder, Lead Developer
• Ron Bernstein: Advisor, formerly of Intrade
• O Goodman: DOS Deutschland
• Jack Fruit: Twitter
• BTC VIX: Whale Club

5. Bitcoin Price:

The discussion briefly mentioned the value of Bitcoin in Canadian dollars, but no specific price was stated.