Wisdom of Crowds Update

In 2004 a book appeared on the best selling lists titled ''The Wisdom of Crowds'' by ..James Surowiecki . The author postulates that the aggregation of information is more accurate than by the individual or even expert. Furthermore he sites many examples and case studies. Fascinating and subsequently many more examples have come to light. Here is one typical example

https://youtu.be/iOucwX7Z1HU

Pretty cool eh? and there are hundreds of other examples.It is interesting but impossible to take advantage of this knowledge even with the internet at our disposal..
Would it be useful to know who will be the next President or Prime minister
or the price of Apple stock at the end of the year? Sure!! But there are huge obsticles
to use this crowd wisdom in a pragmatic manner.....
..           .UNTIL NOW....
Enter Bitcoin and the Blockchain and DECENTRALIZATION and AUGUR

Historically, prediction markets have fallen short due to dated jurisdictional regulation, lack of volume due to limited payment options, a paltry number of markets, and sometimes even paying out the wrong people!

The root of these problems stems from centralization — an issue solved by blockchain technology. AUGUR'S prediction markets eliminate counterparty risks, centralized servers, and create a global market by employing cryptocurrencies including bitcoin, ether, and stable cryptocurrencies. All funds are stored in smart contracts, and no one can steal the money

That's right...you can enter your own questions and bet money against the rest of the world on the outcome on this decentralized network...The applications are almost limitless and you can participate and/or observe.

here is a link to AUGUR..

http://www.augur.net

Really bends the mind on a quiet Sunday