Predictoor – Decentralized Prediction Feeds
Trent McConaghy is an AI and blockchain expert and the founder of Ocean Protocol, a decentralized data marketplace. Ocean’s newest product is Predictoor, a decentralized prediction feed platform.
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Why you should listen
Trent shares his journey from being raised on a farm to studying electrical engineering and computer science. He talks about his experience in starting companies focused on AI for chip design and exploring the creative uses of AI through his PhD.
Trent has always been ahead of the curve and has been publishing thought pieces on tokens, blockchain, big data, AI, solarpunk, nfts, Moore’s law, transhumanism, UBI, human actualisation, life on mars, and Dyson spheres over the two decades. Trent focuses his work at the intersection of AI, blockchain, and data.
Ocean Protocol aims to connect the dots and envision future possibilities by focusing on interpolation rather than extrapolation. They have been building decentralized data marketplaces since 2017. Their core team has been divided into three sub-teams to pursue different traction hypotheses in data and AI.
One of the projects is Predictoor, which focuses on time series prediction using accurate prediction feeds and data coordination. The goal of Ocean Protocol is to create an open data economy where individuals and organizations can easily make money by adding value to data through AI models, predictions, actions, and revenue generation loops.
Ocean Protocol is now focused on allowing people to make money in the Ocean ecosystem, particularly through DeFi.
Predictoor is a two-sided marketplace where predictors submit predictions and traders buy those predictions. The predictions are made every five minutes for various cryptocurrencies and traders can purchase them for a straightforward price of $1 per feed per day. The accuracy of the predictions determines whether users can make money, taking into account fees and slippage. Predictions can be made using AI ML models based on historical data. This crowdsourced approach allows data scientists to practice their skills while providing accurate prediction feeds to users. The goal is to have thousands or even millions of accurate prediction feeds available in different domains such as weather forecasts, traffic congestion, digital asset prices, etc., benefiting various industries and normal people alike.
For example, accurate predictions for energy demand and price are crucial at both individual and national levels to avoid issues like brownouts or blackouts. Predictions are closely linked with intelligence and can be applied across various industries. Trent emphasizes the importance of accurate predictions through crowdsourcing combined with skin-in-the-game incentives on-chain, where custody is decentralized.
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