Recently, there have been an increasing number of blockchain-based prediction markets (PMs) such as Augur, Bitcoin Hivemind, Amoveo, Gnosis, Cindicator, etc. PMs use the technology of smart contracts for bets on various issues. For example, one user could place $100 on President Donald Trump getting reelected for a second presidential term while another person is convinced that a Democratic candidate will win the Oval office in 2020. Once the election is over, the pot is automatically transferred to the winner of the bet.
At first sight, betting may not be the most obvious or efficient way to use blockchain to its full potential. Despite this, several experimental and theoretical studies show that PMs are not just about gambling. These markets are capable of producing revolutionary changes in many industries, including politics and science. In particular, PMs are capable of making society more farsighted, even in terms of civil development.