Foresight is wealth, the revolutionary of self-learning - WaykiChain

When the total market value of digital currency reached 300 billion US dollars and the global capital market was crazy about it, Ethereum founder Vitalik Buterin wrote, "With such a large scale of digital currency, is it really our labor that has increased its value? Instead of caring about such a large number, I think it is better to consider another more important question: How should blockchain technology develop to make our world a better place?"

Since Satoshi Nakamoto published the first blockchain white paper , the Bitcoin white paper, although blockchain technology has made great progress, there are only a few million people in the world who hold digital currency. People seem to be more willing to treat digital currency as a hype product similar to stocks, futures, and precious metals, and ignore its epoch-making significance of "decentralization", "anonymity" and "identity recognition mechanism". This cannot be blamed on our investors, because the current "blockchain-traditional industry combination" is still in the exploratory stage, and there are not many projects that really have a profound impact on people's lifestyles. How can we make all investors become visionaries like Satoshi Nakamoto and Steve Jobs?

But the recently popular Wikichain seems to have the potential to change our learning habits.

"Prediction application" is one of the core applications of the WaykiChain project. According to the explanation in its white paper, WaykiChain will establish an open prediction platform, where WaykiChain holders can initiate predictions on objective facts whose results are not yet clear, and other WaykiChain holders can selectively join. Finally, according to the results of objective events, rewards and punishments will be given to the right and wrong predictors.

Looks simple, right? But what I see is: this may be the first industry since the valuation of knowledge that can transform predictive power into value and drive people to learn independently.

First of all, "prediction" is not "gambling". We know that the essence of gambling is probability. As the number of coin tosses increases infinitely, the ratio of positive and negative results of the coin approaches 50%. In other words, no matter you are a rich man or a beggar, no matter you are illiterate or a doctor, every time you toss a coin, you always have a 50% chance of being correct. This judgment has nothing to do with the psychological quality, knowledge level, and depth of understanding of objective problems of the participants.

But predictions are different. If you predict "will the CPI index rise or fall in the next three months", then those who care about the economy have a higher chance of winning; if you predict "whether the results of the second clinical trial of Shapuaisi will pass", then medical workers are more confident; if you predict "will the sand content of the Yellow River increase or decrease in the next year", then environmental workers are more confident. Each prediction problem has a unique group of participants, and the more controversial the prediction, the more people can join. The results of the prediction are closely related to the forecaster's professional background, learning experience, and knowledge update speed.

It can be said that WaykiChain provides a prediction platform with infinite boundaries and clear outlines of specific problems. What will happen when this prediction platform can be connected with "value acquisition"?

People learn spontaneously. Imagine someone predicts that "the processing speed of the next generation of CPUs will be 2.5% higher than the current one", and you think this is impossible because you just read a research report on the growth rate of CPU processing power, so you vote against it. However, surprisingly, the person who made the prediction read a newer report, or even professional research materials. So you lose a certain amount of chips. But it doesn't matter, it will motivate you to continue to expand your knowledge, read more nutritious and in-depth research articles, and help you win in future predictions.

Due to the "decentralized" nature of blockchain , anyone holding Wikichain can make predictions. Only those "questions that can really cause controversy" can attract participants. For example, compared with "Will it rain tomorrow?" and "Can Trump be re-elected?", the latter question is obviously more controversial. In addition, the predictor can increase the participation of in-depth professional predictions by increasing the winning chips. Because if the predictor issues a controversial question that requires professional background knowledge to answer, he will definitely increase the chips to increase the return of the prediction, and the participants will also participate in it after careful consideration under the stimulation of the big chips. Under this operating mechanism, meaningless predictions similar to the results of coin tossing will be naturally eliminated. People will spontaneously focus on prediction problems that are more meaningful, require more research, and have greater returns.

I can’t imagine how big an impact the Wikichain application will have when it is really developed into an APP and installed on our mobile phones. But at least it can make people read less self-media articles that have no nutritional value, share less “chicken soup for the soul” with little knowledge content, and unfollow the authors of a few “vulgar and funny videos”.

Because, while you are still wasting your life, someone is learning, making predictions on Wikichain, and creating wealth.