Ethereum co-founder Vitalik Buterin points out that Prediction Markets and Community Notes are two key initiatives that are becoming the knowledge-based technologies of this decade.
Buterin highlighted the remarkable features of these innovations that make them the defining technologies of the 2020s.
He emphasized that both Prediction Markets and Community Notes are about truth and democracy. Not only that, these technologies are created with the participation of the public, not pre-selected members of the elite. The co-founder hopes to see similar technologies in the future.
In a follow-up post, Buterin announced that Prediction Markets complements Community Notes. The core idea of Prediction Markets is to encourage users to predict future signals and reveal them as early as possible. Regarding Community Notes, Buterin said the main drawback is that it is slow.
Prediction markets and Community Notes are becoming the two flagship social epistemic technologies of the 2020s.
Both truth-seeking and democratic, built around open public participation rather than pre-selected elites.
I want to see more things like this.
— vitalik.eth (@VitalikButerin) July 2, 2024
It is worth noting that this is not the first time Buterin has supported Community Notes. Last year, Buterin stated that the transparency that Community Notes provides is in line with cryptocurrency principles.
He stressed that this approach provides significant value by preventing centralized manipulation.
Community Notes gained significant prominence following its acquisition of social media platform X (formerly Twitter) in 2022.
Originally launched as “Birdwatch” in January 2021, the technology aims to tackle misinformation by attaching context and facts to tweets. Platform users have full responsibility for contributing and voting on these notes.
Meanwhile, Prediction Markets has seen steady growth in recent years. This growth has been fueled by the emergence of various platforms that allow users to buy shares in the outcomes of various events. For example, Foreon Network (FRN) introduced the Cardano (ADA) blockchain as the technical basis for its Prediction Markets segment in 2023.
As more and more users flock to the market, only time will tell whether these technologies are really worth paying attention to.
Itadori
According to U.today
