Exantech CEO on Prediction Markets at Barcelona Trading Conference 2019
The most heeded futurists these days are not individuals, but prediction markets, where the informed guesswork of many is consolidated into hard probabilities… — The Economist: The Future of Futurology
Last week, Barcelona gathered a wide number of crypto enthusiasts together in one place called the Barcelona Trading Conference (BTC) to spotlight the most promising blockchain-related trends in the short&long-term perspective.
While stablecoins were the initial focus of the event, the BTC conference also paid special attention to prediction markets technology.
Denis Voskvitsov, the Chief Executive Officer of Exantech, a company that developed storage for VEO coins called MyVeoWallet and Telegram-based VEO exchange bot, shared with the BTC attendees his vision of how blockchain-based prediction markets may impact our future and how this technology is changing the modern world today.
Voskvitsov pointed out four major roadblocks along the way that interfere with the adoption of prediction markets:
- lack of trust;
- lack of transparency;
- interferences by providers & limitations;
- high costs.
And here’s where, according to Voskvitsov, blockchain technology can fundamentally change the way things used to work.
Since blockchain technology implies no central server use, there’s no [even in theory] possibility of compromising information, which is good news for sure.
Additionally, blockchain significantly reduces administration costs, which makes prediction market services more efficient and affordable.
The decentralized network offers a high level of security and anonymity. It can’t be manipulated or changed, which excludes the possibility of censorship.
Special attention was paid to Amoveo as well. While there are already a number of prediction market blockchain projects with their own communities, Amoveo stands out not just as a product, additionally built on the Ethereum or Bitcoin blockchain, but as independent, build from scratch blockchain infrastructure, which had no ICO or crowdfunding campaign.
As you can see, Amoveo is only getting started, so stay tuned, there’s more to come!