The post Vitalik Buterin says prediction markets and info finance could transform DAOs appeared on BitcoinEthereumNews.com.

Ethereum co-founder Vitalik Buterin believes finance-driven information sources could transform other sectors such as social media, scientific review, and decentralized governance. In a recent blog post, Buterin explained that AI or LLMs could expand info finance outlets by improving their accuracy and transparency. Vitalik Buterin’s article vividly describes how info finance and prediction markets play a major role in today’s evolving world. The crypto mogul highlighted Polymarket’s role as an info finance outlet in the just-concluded U.S. elections.  According to Buterin, Polymarket provided real-time information about the election and simultaneously provided a betting platform for bettors to predict who would win the U.S presidential elections. Polymarket’s data proved to be more accurate than data from other sources. The website predicted a 60/40 chance that Donald Trump would win the elections, while other sources maintained a tight race impression with a 50/50 chance between the two candidates. Buterin believes the info finance sector could benefit DAOs From prediction markets to info finance:https://t.co/Os5I1vocNn — vitalik.eth (@VitalikButerin) November 9, 2024 In the article, Buterin mentioned that information finance was a new and emerging field focused on prediction markets and information provision. He also detailed that the sector could face massive disruptions with advanced large language models (LLMs) and artificial intelligence (AI).  Buterin highlighted that prediction markets are part of info finance, which allows users to place bets based on which post they believe is true or false. The sector boosts credibility in dispelling information and identifies and flags falsehoods. Buterin mentioned in the article that info finance could serve as a useful tool in the decentralized finance arena on decentralized governance.  According to Buterin, decentralized autonomous organizations (DAOs) could capitalize on prediction markets to foster development in the respective ecosystem. The article emphasized that DAOs face the major challenge of having many decisions,…

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Filed under: News - @ November 9, 2024 7:23 am