Erasure Bay is an open market for information of any kind, built on the Erasure protocol. It’s Numerai’s first non-finance product. It’s our bid to save the Web.
“Davos is a good place to announce that Facebook’s days are numbered.”— George Soros
The problem is the architecture of the Web. The Web’s solved information scarcity; we can all communicate. …
Numerai built a stock-picking tournament on Erasure. We’ll use it to crowdsource alpha for our hedge fund. So tool up to make money. Quant is only the first in an ecosystem of tournaments on Erasure. So fork it and build your own.
We’re excited to announce Erasure Quant, the first dapp on the Erasure protocol. Erasure Quant is a stock-picking tournament that achieves something previously impossible: provable point-in-time stock predictions. Submit encrypted predictions to the blockchain. Reveal them to build reputation. Stake money on your next ones and sell to the highest bidder.
Quant demonstrates Erasure’s power as a finance tool. We’re solving a real problem — our own. We’re hunting for diversifying signals on stocks we trade, and want to enrich our community of data scientists along the way. But Erasure isn’t only for us. Quant is the first of many tournaments to be built by others on the Erasure protocol, towards a radically more open hedge fund industry. …
In October, Numerai announced Erasure, a protocol for building trusted, unstoppable data markets. In March, we announced an $11 million raise to make it happen. We’re announcing lots more this quarter. Starting with this: we’re launching the Numerai Grants Program, $1 million in NMR to support teams building on top of Erasure.
Recapping the Erasure plot
“A very advanced form of lie detector that measures contractions of the iris muscles…” — Blade Runner’s Voight-Kampff Test of Humanity
Erasure powers markets for information, by leveraging the core trust models of crypto — staking, time-stamping, and public-key identities.
On Erasure, you can upload encrypted data, stake it with cryptocurrency, then sell it to a buyer. The buyer trusts you because your past is etched into the blockchain, your stake can be burned if your claims are false, and because the purchase is handled atomically via smart contracts. …