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Ready Set Go!
With the much-awaited Russia World Cup 2018 some weeks away, it’s no surprise that the blockchain prediction markets DApps are pushing hard to capitalize on this increased demand.
The statistics shows that almost 3.2 billion people worldwide, roughly 46% of the world’s population, watched more than one minute of the 2014 World Cup in Brazil. According to FIFA, this makes the tournament “the world’s most widely viewed sporting event.” Because football is undoubtedly played and watched by more people globally, it is understandable that trying to predict the outcomes of World Cup games is in huge demand.
The Delphy (DPY) project has been pushing their development and marketing teams hard to launch the Delphy dApp ahead of the FIFA. The project is extremely popular in China, and with over 200,000 pre-registrations for the platform. The pre-registration figures are a testament to the interest in Delphy and the immense appeal of predictive markets in China. Delphy prediction markets, Chinese version platform will go live on 1st June 2018 and will feature numerous prediction markets set-up in anticipation to the much-awaited 2018 FIFA World Cup.
Delphy implements three of the necessary conditions for crowd wisdom as defined by renowned journalist and author, James Surowiecki: diversity of opinion, independence of opinion, and decentralization. Named after the prophetic oracle from Greek mythology, Delphy is built on a decentralized Ethereum platform, making it difficult to manipulate prediction results.
Prediction markets which harness the “wisdom of the crowds” to forecast the outcomes of future events, have been in existence for decades. Essentially, they are marketplaces that mesh financial markets, and crowdsourcing to create contracts that enable people to profit on their beliefs of what will happen. The price of the “investment,” fluctuates in response to how the participants interpret ongoing events and reflects a real-time probability of the event occuring.
According to Delphy, their prediction markets DApp will have two different types of users. One group will want to participate in the platform while a second group plans to utilize the prediction markets data as a part of their due diligence in other investment efforts. “The wisdom of the crowd is a data set that until now has not been incorporated into predictive algorithms. This data should be statistically significant in algorithms to predict the outcome of several future events.” Fox Holt, Vice President, Business Development, Delphy.
A Decentralized mobile social platform for prediction markets.
Delphy is a decentralized, mobile prediction market platform built on Ethereum. The Delphy App is a light Ethereum node running on mobile devices.
Delphy uses market incentives to allow participants in a market to communicate, instantly and transparently, their wisdom regarding the outcome of upcoming events, effectively predicting the future. We design Delphy from the start to be decentralized, which makes it difficult to manipulate prediction results.