Placeholder Image

Subtitles section Play video

  • when it comes to the smart contract platforms, you know, the ethereum, obviously Cardona actually hasn't even launched, but there's a lot of hype around it and the future and all you said, these incredible dex is and strange things happening out there.

  • I mean, what excites you about that space?

  • Like what instruments are are you looking at and how quickly do you think that's going to change the way we know finance in the next couple of years?

  • Yeah, I think it's the same story again, well overestimate the amount of change in the short term, but we're going to underestimate the amount of change that we make in the long term.

  • And so it's all happening, but you know, one step at a time there.

  • But the thing that got me the most excited from the earliest days was this idea of peer to peer electronic cash.

  • Right.

  • And so that's your, something like your Bitcoin cash or um, a narrower Z cash or some of these, there's a bunch of competitors in that space in which everyone wins.

  • That's fine.

  • As long as the world winds up with that.

  • But then the next question is, what do you do with your peer to peer electronic cash?

  • You can buy your groceries.

  • That's great.

  • You can do your payroll, That's great.

  • But how about investing?

  • Well, that's where this defy stuff comes into.

  • So it allows any investor anywhere in the world to invest in any other entrepreneur or even non human entrepreneurial type platforms like these various decks is, or, or douse.

  • Uh, and nobody can stop you.

  • No one can freeze your funds, nobody can mess with your stuff.

  • It doesn't matter if, you know, Janet Yellen doesn't like what you're investing your money and it's your money.

  • She can't block it.

  • This is fantastic for the entire world.

  • Uh, and so what's, what's gonna be next?

  • I think it's the all the various cases of your peer to peer electronic cash which are these defy projects and douse and and who knows what things are people going to come up with next.

  • Although one of the other things I'm very excited about our prediction markets, I don't think people appreciate how big of a deal prediction markets are, because not only are they basically like a magic time machine window into the future where you can see what what's going to take place in the future, but it's also a tool for you to be able to figure out what actions you should take today to achieve your goals that you have in the future.

  • So I think the vast majority of the world don't appreciate just what a big, giant important deal prediction markets are.

  • And you know, defy and peer to peer electronic cash from cryptocurrencies enable insensible prediction markets of the world.

  • And I think that's going to be a really big, powerful tool here that we're gonna see rolled out in the next couple of years.

  • Can you go a bit deeper on that?

  • As far as explaining what a prediction market is?

  • Is this a way of having kind of a trust lys source of projecting things out in the future as opposed to other organizations that have agendas or maybe you can explain that.

  • Yeah.

  • So it's basically a way to harness the wisdom of crowds, like if I ask you, what do you think is the likelihood of discovering a new subatomic particle in the next six months?

  • No idea.

  • Right.

  • That's not what we're spending our day on.

  • But let's say you're a nuclear physicist and you're busy studying that sort of thing.

  • And you think that they're close to being able to do that?

  • Well, you have direct inside knowledge of that, right?

  • And so all the people that have direct knowledge of that can go on a prediction market and say, okay, I'm gonna bet that yes, the answer is yes.

  • And they'll put their real money on the line because they have real knowledge about that particular subject.

  • Whereas you and I we don't know anything about that.

  • We're not going to put our money on the line.

  • So you can basically harness all the brainpower of people around the world that actually have knowledge about a particular subject to the point where they're willing to put real money on the line.

  • So you can find out like that.

  • That's a simple thing.

  • A slightly more complicated one would be, okay, who's going to win the next election?

  • Well, maybe some people have some inside information about this or that, but you can harness all the different brain power of the people that actually feel that they have some real information on that.

  • But an even more useful things would be, OK.

  • Let's say we want to achieve, you know, whatever goal tomorrow, scientifically, uh we want to extend the human lifespan by another couple years.

  • Well, should the income tax rate be higher or lower?

  • And people can bet money on that?

  • And you can see, oh, well, here's real people with real inside information that actually have knowledge in that space, that are putting real money on the line.

  • Well, they say, oh, well, if taxes are lower, the average human lifespans, like the increase in the future, that's a really, really strong indication we should do that sort of thing.

  • So, rather than just ask me one single expert, you can harness the wisdom of billions of people around the planet with that.

  • And the problem previously was any time any of these prediction markets started to get much traction, A lot of the things that people like to do most is with elections and politicians hate prediction markets with elections and they basically banned the prediction markets and shut them down.

  • Well.

  • Now we have uncensored herbal prediction markets on the way, and it's going to be really exciting to see the various ways that they wind up being used all over the world.

when it comes to the smart contract platforms, you know, the ethereum, obviously Cardona actually hasn't even launched, but there's a lot of hype around it and the future and all you said, these incredible dex is and strange things happening out there.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 prediction peer cash harness knowledge electronic


  • 3 0
    林宜悉 posted on 2021/08/11
Video vocabulary