Forecast Markets and Social Media Cutting

Forecast markets allow people to share their opinions on their future for a long time with monetary incentives. However, it is a natural question to ask what social media platforms are combined with massive participation and real-time engagement power. A new project appears at this point.

This approach designed combines several basic elements:

• The use of social media data as popular media, to determine which topics are really interested
• Transparent market mechanisms that allow users to receive reliable feedback while predicting results
• organic merger of trend and forecasts discussed on social media
• Economic elements that encourage participants to make correct predictions

At this intersection, a kind of synergetic can occur in theory. Popular topics discussed in social media are also included in forecast markets, the powers of both environments can strengthen each other. Users can not only share ideas, they find the chance to test their predictions and learn from their inaccuracies.

This model will not be successful in the real world. However, the idea has started to attract attention to the tech community. For developers and entrepreneurs, this represents an opportunity to create new apps at intersection of social media and financial mechanisms.