Is Gnosis only a prediction platform or could it be the “next Google”..

Could Gnosis be the next Google..

What is Gnosis?

• At the most simplistic forms, Gnosis is a platform for prediction markets build on the Ethereum blockchain.

Why can Gnosis be disruptive? Is it much more than a prediction market?

• A prediction market is not a new idea whatsoever. However, these markets lack decentralization and carry risk between the participants and the service provider where a massive conflict of interest may be recognized.

Gnosis has a high potential to be disruptive not because of placing an old idea on top of a blockchain. Its true disruption power is derived from the aggregated data that comes with it. This data can potentially produce a high correlation between results and market expectations.

This data can have numerous applications from advertising, financial markets, geopolitics, and economics.

How can I evaluate it?

• I always like to evaluate things based on a similar functioning product. This can lead us to important consumer research conducted by the University of Michigan on the Consumer Sentiment. Consumer sentiment is how the consumers feel about their prospects and whether they are going to spend more or less in the future.

• The University of Michigan consumer research Centre conducts a telephone survey asking only 500 consumers a series of questions. The U.S consumers make up 66% of all spending of the U.S economy, this is why it is essential. These questions are broken down into two main components:
  A) The future expectation of economy. B) Current economic conditions.

• Believe it or not, this sentiment has about 80% correlation to the business cycles through history!

• What is also great about it is the time lag between the report and the results which will make you ahead of the crowd, you can check it out yourself. What amuses me is that it is based on only 500 consumers!

How valuable this information and data can be if we took it worldwide, decentralize it and make it across so many different subjects and sectors?

Here comes Gnosis true disrupting power:

• The platform allows participants to place their predictions on an event. Gnosis attempts to create a unique forecasting tool for people to render and receive projections for an event or result.

• Furthermore, Gnosis is attempting to provide a platform where any person can post a question and search for answers, the questions can be as simple as who would win the next world cup? Whereby successful users will be rewarded for having a correct prediction. Gnosis will also have multiple layers for their services, where higher value services will require the user to pay through Gnosis Token. These two applications will also create a usage value for its token.

I am not a financial advisor, but for these reasons, I am a long-term investor in Gnosis, as I can see how valuable this could be in the future. Who knows it could be the “next Google.”