Using Augur to hold ICOs accountable
As everyone on r/ethereum knows, ICOs have a HUGE problem with accountability. Despite enthusiastic (I’m being nice here) timelines, post-ICO companies announce delay-after-delay in meeting development milestones. Augur’s new prediction market may be a way to improve accountability.
For those who have downloaded Augur, you can see MedCredits (an Ethereum-based company) now as a top market. In a detailed blog post here https://medium.com/medcredits/skin-in-the-game-how-medcredits-is-using-augur-to-assure-accountability-950166f1f0ab, MedCredits attempts to provide some assurances to token holders by bidding on a new prediction market for the release of its next development milestone.
By placing a bid on Augur assuring the release of its medical dApp by October 2018, the MedCredits’ founders are showing that they are serious about meeting product release milestones.
Going forward, Augur’s prediction market could be a way for companies to be held accountable prior to raising large sums of money in ICOs.
Submitted July 13, 2018 at 01:15PM }
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