Q&A SERIES #4 -Deep Dive Into Dotsama Projects — ZEITGEIST
Hello my friends from DOTSAMA how are you all? Hope everyone is well, our series is a success, we are delivering with quality something very important and informative for the entire DOTSAMA community!
Are you looking forward to the project we are going to talk about today?
Today we’re going to talk about ZEITGEIST, and you ask me:
-“John what is ZEITGEIST?”
First you need to understand…
The world is saturated with information. But with this fortune comes a dilemma: It’s hard to know which information is true. Whether we like it or not, all information is created by individuals, and individuals are inherently biased. But short of a crystal ball, how does one make decisions informed not by ego but by truth?
The answer lies in data. Time and again, data has proven there is wisdom in crowds — that the many are smarter than the few, and can more precisely predict true outcomes. When a crowd is incentivized to share their predictions by betting on what they think will happen (not what they want to happen), bias is eliminated, and the truth follows. This method of trading, where people bet on outcomes, is called prediction markets.
At Zeitgeist, we use prediction markets to employ a governance model called futarchy, where participants bet on the success of proposed decisions, then the winning decisions are implemented. Unlike traditional governance structures where votes don’t always directly influence outcomes, futarchy ensures that when a decision is deemed likely to succeed, it’s put into practice — without the influence of bias.
Zeitgeist gives people “skin in the game” — a vested interest in the outcome of a decision. Because they don’t just stand to profit from betting on the truth… they stand to build a better, more equitable society because of it.
CEO Logan Saether,CMO Chris “Hutch” Hutchinson and CIO David Perry. All three saw a vision for the power of a decentralized prediction market protocol built on the Dotsama blockchains, and together formed Zeitgeist.
The prolific team set about building proof of concepts and raising resources to prepare for a significant launch. They joined forces with some of the most distinguished partners in Web 3, and by late 2020 had a solid proof of concept and achievable roadmap. Early 2021 saw the formation of a formidable team, and the first time the Prediction Markets POC went out into the public eye.
Since then, Zeitgeist has grown exponentially, and won their first Kusama parachain slot auction at the first attempt in October 2021. The team have been immensely hard at work preparing the protocol to be a fully decentralized live parachain on Kusama, with a perfectly functional prediction market application and SDK.
Today we will welcome BOB, who will be representing Zeitgeist
John- Hello BOB. First thank you for your availability to serve a large community. The interview is of utmost importance, and I am glad you could make yourself available. This questionnaire will serve as an educational collection for the entire community, especially for people just starting!
Together with the community,I’m raising some questions that I believe will help many others understand what you are doing better.
I hope these questions regarding the project you represent will yield productive and enlightening information for everyone.
START OF Q&A:
John- First, can you introduce yourself and your role in ZEITGEIST ?
BOB- I’m Bob, I am the Head of Community Development at Zeitgeist. I was an early team member at Zeitgeist, but have always had a focus on developing community and culture in the Zeitgeist ecosystem.
John- It’s a great pleasure to have you here Bob.
John- 1st Question: “What is the project of ZEITGEIST tell me a little about your project”?
BOB- Zeitgeist is a blockchain based decentralized prediction market protocol deployed on Kusama. Zeitgeist provides the primitives needed to build prediction market applications for any use case.
John- 2nd Question: “What does ZEITGEIST intend to solve “?
BOB- Zeitgeist wants to bring people closer to the truth by providing a decentralized and unbiased source of information via prediction markets. To find truth in a world of disinformation.
John- 3rd Question: “What are your main products and services? Talk a little about them”
BOB- We have just launched the Zeitgeist Dapp https://app.zeitgeist.pm
The Zeitgeist app is a decentralized prediction market app where anybody can create and participate in prediction markets with ZTG.
John- 4th Question: ‘How has the journey of ZEITGEIST in the POLKADOT/KUSAMA ecosystem been, and what positive experiences have you had so far?’
BOB- It’s hard to describe specific experiences. The entire journey has been full of so many great moments. From getting the parachain slot, going live, all the amazing people I’ve met and friends I’ve made during the last year and a half…It really has all just been amazing.
John- 5th Question: “‘Economically, we are in a negative period and the bear season of the crypto market. What are some of the plans being put in place to ensure the ZEITGEIST remains sustainable?”
BOB- In short. Yes. We have plans for our next Kusama parachain slot, and have even been discussing the idea of migrating to Polkadot. Currently though we fully intend to be deployed on Kusama.
John- 6th Question: How have the interactions and partnerships with other projects been? Tell us some partners your project has successfully worked with, and the use-cases they added to your project.
BOB- Well, we are still very early in the life cycle of Zeitgeist. Currently any partnerships or integrations are still in development. However we have been having a lot of productive conversations with different teams and are actively working towards integrations in Dotsama. We highly encourage anybody interested in building with prediction markets to check out our SDK and get in contact in our discord!
John- 7th Question: “What plans for marketing do you have for the next quarters such as listing, promotions, etc, and how do you intend to involve the community?”
BOB- Currently we are focused on fine tuning app, but we do have plans for a large marketing campaign that directly includes community participation with a reputational NFT badge system we have developed.
Read more: https://blog.zeitgeist.pm/announcing-zeitgeist-launch-nfts/
View the badges: https://app.zeitgeist.pm/badges
John- 8th question: “Has the ZEITGEIST been doing frequent stress tests?How have the developers been working to keep the ecosystem of your project updated and secure? Is there any security device in case of hacker attacks ?”
BOB- I’m not really the best to answer this question specifically. I do know we take security very seriously, and our developers are some of the best I have ever worked with. Our code has been audited several times, and security is always one of the highest priorities when considering anything.
John- 9th question: “ We know that these doubts are resolved for the Portuguese community, in languages other than English to serve as a guide for all other countries! What are the plans and how do you see the importance of the non-English community around the world?”
BOB- I have always put a heavy emphasis on catering to the non-English communities around the world. Ultimately we are all a global community at Zeitgeist.
We have several community driven localization efforts like our Seer Program Medium (https://medium.com/zeitgeistseer) where we host translations for 6 different languages(including portuguese) with plans to expand.
John- Would you like to leave a message for curious investors and enthusiasts of ZEITGEIST ?
BOB- I would just like to invite anybody with an interest to join our Discord, check out the app, and get involved with Zeitgeist!
END OF Q&A:
That’s all, folks, this is just the beginning, several DOTSAMA projects will appear in this series, you can have fun and enjoy this journey here! Thank you so much for all of your support…
See you at the next Q&A!!
ZEITGEIST SOCIAL NETWORKS:
Blog | Discord | Telegram | Twitter | YouTube | GitHub
FOLLOW MY SOCIAL MEDIA:
PARACHAIN BOY — TWITTER
SUBSOCIAL PARACHAIN BOY
VERBO DA SABEDORIA MEDIUM PORTUGUES
VERBO DA SABEDORIA — TWITTER
VERBO DA SABEDORIA — TELEGRAM
