You’re basically describing prediction markets, which do exist on p2p blockchains and work in basically this way.
They’re pretty good, but unfortunately what they measure is kind of a hybrid mix of expert opinion and general sentiment. There are people who put money into prediction markets because they have inside knowledge, but there are also people who bet there based on vibes and hope. Whereas insurance companies tend to have fewer outright gamblers working as actuarial analysts.
You’re basically describing prediction markets, which do exist on p2p blockchains and work in basically this way.
They’re pretty good, but unfortunately what they measure is kind of a hybrid mix of expert opinion and general sentiment. There are people who put money into prediction markets because they have inside knowledge, but there are also people who bet there based on vibes and hope. Whereas insurance companies tend to have fewer outright gamblers working as actuarial analysts.
What’s the best one on a p2p blockchain? Maybe I can help.
I don’t use any myself so I can’t really give a personal recommendation. This page has a list of some.