Facebook’ research & development engineers have recently revealed their new community platform built around predictions, encroaching on the territory of the emerging cryptocurrency-powered predictive market sector.
Named ‘Forecast’, Facebook’s new iOS based application polls users on several forward-facing issues, with respondents using in-app points to access surveys on the platform. The surveyed results will be made publicly available for all via the Forecast website.
New App Is In Beta Testing – Available To Uses As Invite Based
The new application is presently solely available to the invited users based within the U.S. & Canada as the platform is in beta testing. Before its invite-only beta launch earlier on 23rd June, Forecast was tested internally by the Facebook employees.
The beta launch has seen representatives of the health, academic, and research communities invited to contribute predictions concerning the coronavirus outbreak.
Facebook To Offer Strong Infrastructure For Existing Predictive Markets
However, if Facebook were to integrate Forecast with its Libra stablecoin, the platform would offer a strong infrastructure for the existing predictive markets.
While decentralized prediction markets are still in their infancy, Augur’s [REP] imminent v2 transition is predicted to offer a powerful platform for decentralized betting markets before the United States elections later in November.
Describing v1 as a “functional beta,” Augur added that the v2 overhaul will see the mixing of MakerDAO’s DAI & 0x [ZRX] as settlement currencies, smartphone-focused user-interfaces, fiat on-ramps, along with the launch of an off-chain scaling solution, among other upgrades.
Also in earlier months, Waves has also used its exchange platform to host several predictive markets regarding the COVID-19 outbreak.