RATE Group | This new Ethereum-based “assassination market” platform could cause Napster-size legal h…
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This new Ethereum-based “assassination market” platform could cause Napster-size legal h…

02 Aug This new Ethereum-based “assassination market” platform could cause Napster-size legal h…

Posted at 21:03h in Ethereum News by

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Augur, a new blockchain-based prediction market platform, is getting a lot of media attention because people are using it to predict the deaths of celebrities. But despite fears that the rise of “assassination markets” could inspire real killings, the more urgent problem Augur presents is something else entirely.

This piece first appeared in our twice-weekly newsletter Chain Letter, which covers the world of blockchain and cryptocurrencies. Sign up here—it’s free!

Really, people saw these sorts of “death pools” coming decades ago, and blockchains, with their decentralized networks and (potentially) anonymous transactions, serve as an ideal platform. Augur’s open-source software relies on blockchain-based computer programs called smart contracts to let users set up their own prediction markets that automatically pool cryptocurrency bets and distribute winnings without the need for participants to identify themselves. Perfect for ginning up…

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