Amulet puts reputation on the blockchain, exposing the accuracy of Crypto Market Experts so investors can filter out BS.
Crypto has a Trust Problem
When evaluating which cryptocurrencies to buy, hold, or sell, you’re making a prediction about what will happen to the price of this coin in the future. This is no simple task and a missing piece of the puzzle for investors is being able to gut-check their predictions against reliable third-party sources.
In this heady first decade of Crypto, misinformation has exploded, drowning out expert voices that both new and veteran investors depend on. In response, rational investors have shielded themselves with skepticism. However, over-indexing on skepticism can backfire. It is a critical defense against fraud and bunk advice, but it needs to be complemented with mechanisms for allowing smart, actionable insight to filter through.
Currently, there is no service available for investors to audit a third-party market expert’s track record. This leaves many investors in a catch-22: they need advice from individuals with different expertise than themselves, but they lack the expertise to validate the quality of these individuals. Even investors who are equipped to do this well, lack the bandwidth to do it repeatedly.
Now suppose you are on the other end — you are are a highly skilled financial market expert, and you want to profit from correctly predicting market outcomes. You look for services that will pay you fairly for your content, and discover that they all pay you based on how many impressions you generate. You need a large following. How will you win over followers against the backdrop of pump-n-dump scams, shilling, FUD and infeasible technology pitches being hawked by established, celebrity personalities?
Unfortunately, the answer is to create sensational content to generate louder noise than your competitors. There is no financial incentive for you to publish accurate predictions, there are only incentives for winning over a large audience. This renders all current domains and services for market advice useless.
Solving for Trust with the Blockchain
The Amulet Platform solves these problems. Experts can grow their reputation and the value of their advice by being right, not by being popular. Additionally, Amulet empowers investors to discover experts by finally comparing them by the metric that matters most: how often they’ve been right — not their follower count. Learn more at AmuletPlatform.com
So how does Amulet establish an objective record for experts? Amulet accomplishes this by treating financial market predictions in a similar way that Bitcoin treats hashing. Every prediction an expert makes costs the expert money before it can be published. This is like the investment a Bitcoin miner must make in hardware and electricity and time. But only the winning prediction will earn the payout from the pot. This is like the Bitcoin miner who only wins the block reward after successfully mining a valid block.
This is implemented through a smart contract which defines the Amulet token. The smart contract enables an expert to submit a cryptographic hash of their predictions once they stake some of their own Amulet. This data gets immutably written to the blockchain along with a timestamp. The smart contract waits a predetermined amount of time until the prediction can be verified. After the time has expired and the prediction has been verified, the smart contract ensures the expert’s predictions that were shared in plaintext to investors match the previously submitted cryptographic hash. If the hashes match, and the predictions are correct, then the expert earns the investor pot as a reward.
Amulet therefore relies on blockchain in three crucial ways. First, it is built on the philosophy of economic disincentive from cheating, as famously pioneered by Bitcoin. Second, it implements the smart contract for the handling of prediction payouts in a public, permissionless, and fully auditable blockchain. Third, it leverages crypto tokens to become the universal transaction medium for financial predictions, completely unrestrained from border controls, fiat currency exchanges, and manipulation from traditional corporate finance players.
Our Vision: Dishonesty Shouldn’t be Profitable
We are envisioning a world in which investors begin to view an auditable history on the blockchain as a minimum requirement for experts. Many unqualified commentators have been getting a free pass, but Amulet is putting them on notice. If you can’t stand behind your record of predicting crypto markets, then you will be disqualified from giving advice. Lenders don’t extend credit to entities without a credit history, and we believe investors will stop listening to experts who don’t have an Amulet prediction history.
For real experts, this presents a massive new opportunity. They can finally prove their value — objectively — by displaying how often they beat the market through their skilled predictions. They can change the conversation from “I’m popular”, to “I’m usually right”, and this will help them both grow their following and justify greater compensation. They can measurably justify a premium for their predictions. They also gain access to an audience via the Amulet Platform, and can publish their accuracy wherever they want.
Our Philosophy: Product First
Our goal is for Amulet tokens to become the universal transaction medium for financial predictions — we want Amulet to be the currency of trust. We believe strongly that Crypto technology will truly flourish as it matures beyond the trust issues it faces. And we are leading the charge toward this future of trust with not only our product, but by providing a new model with our rollout approach.
Too many new cryptocurrencies debut their token without demonstrating any technology which works towards their stated goals. Investors should not be forced to make a leap of faith, and at Amulet we are committing to leading with a working product, not with promises.
Who is Building Amulet?
Our team is comprised of a diverse group of seasoned technology professionals with training from UC Berkeley and Stanford University, who have come together because of our passion to solve what we see as the biggest threats facing crypto. At present, we are all based in the San Francisco Bay Area.
Amulet’s CEO is Andrey Lukatsky.
- Andrey studied Computer Science at UC Berkeley and has worked in software development and product management over the past decade.
- Andrey has built and managed high performing teams, delivering best-in-class software tools to millions of users.
Amulet’s CTO is Alex Lukatsky.
- Alex has a PhD in Mathematics and Masters in Computer Science from Moscow State University. He has 30 years experience leading software development projects at: Dell, Motorola, Lucent, Nokia, & IBM.
- Alex has also served as the Chief Software Architect for several tech startups.
Amulet’s VP of Engineering is Adam Hooker.
- Adam has 15 years of experience as a lead software developer and tech manager building secure and scalable systems delivering millions of dollars in revenue.
- Adam has managed team of engineers across multiple industries including B2B analytics, health, and news publishing.
Amulet’s Chief Data Officer is Horia Margarit.
- Horia has seven years industry experience with machine learning and optimization, including co-founding and successfully fundraising an enterprise software start-up.
- He earned dual bachelor’s degrees in Cognitive and Computer Science from UC Berkeley.
- He also earned a master’s degree in Statistics from Stanford University.
Amulet’s VP of Product Management is Justin Mancini.
- Justin has a B.A. in Political Science from UC Berkeley, and has seven years of product management experience at CBSi, Ticketmaster, and other household-name brands.
- Justin has a track record of pitching, garnering funding for, and releasing, revenue-focused products.
Learn more at AmuletPlatform.com