Blockchain and The Wisdom of Crowds

Hi,

This is nothing but a series of statements to put forth here. Reach out to me here if you find something to talk about.

• The wisdom of crowds is the most unexploited thing in the human history. There has been no mechanism where people have been incentivised properly to do something.
• But what I have seen often is that when you put people in groups, they do good things.
• You can see it on the platforms such as Reddit. People come and help each other in different manners on the platform.
• However, people are not really incentivised in any monetary form by doing so. They gain credibility on the platform and that’s it.
• With Blockchain technology, for the first time, we have the unique capability of giving people the proper to help and support others in various forms whether by putting out content, recommending things and what not.
• In future, we’ll see more and more companies tokenising this use case to create crowdsourced platforms where people get rewarded by helping each other in different manners.
• An example of this would be a decentralised news “network” where people can act as oracles for information validation and get rewarded.
• Similarly, a tokenised Reddit or Twitter sounds like an exciting proposition.

That’s it for now.

Personally, I have been tinkering with the idea of running a cryptocurrency fund through crowd wisdom. Tell me how do you like it by tweeting out to me here.Also, I run this Telegram group where me and my team publish signals, news and important stuff all crypto. You can join it here!

Blockchain and The Wisdom of Crowds was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.