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Summary:

PublicGyan, The Public Knowledge Exchange is the futures prediction market in everything. You can get the odds of say, an Indian winning a Formula One race. Its sort of like what Google is doing inside their firewall. This is part of the whole trend of “social […]

PublicGyan, The Public Knowledge Exchange is the futures prediction market in everything. You can get the odds of say, an Indian winning a Formula One race. Its sort of like what Google is doing inside their firewall. This is part of the whole trend of “social intelligence.” The community members are not putting much credence in AOL being bought by Microsoft. When does US pull out of Iraq? They have plugins for Moveable Type, and WordPress plugin is coming. The exchange is the brain child of Srijith, a PhD student at Vrije Universiteit , Amsterdam and blogger Nitin.

  1. Thanks for the introduction Om!

    Just to update, we already have a plugin for MT, WP and a Javascript based service for Blogger based and other static web pages.
    http://www.srijith.net/trinetre/archives/2005/10/06.shtml#000966

    Anyone interested in getting an invite just needs to drop a word at http://www.publicgyan.com/message.php

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  2. Good Idea , but the big problem i see is users are basically trading using virtual money… IMHO , predictions of a futures market will correlate with truth if only if users put real money on what they bet otherwise they are just rooting for what they
    want/wish to happen!.

    For example ,as a expatriate indian i am sure going to bet fun money on a indian winning formula one ,but things will be different if am betting real money !

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  3. Gopi,

    The question of real vs play money is much discussed in prediction market theory. While real money games work best, play money markets with sufficient liquidity can do as well. (see the wikipedia article on prediction markets).

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  4. [...] A few weeks ago I wrote about PublicGyan. Now Time magazine has picked up on the theme of Why markets will have a say in almost everything [...]

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  5. this looks similiar to the HSX which has been very successful for over a while now. It works extremely well with a large user base on toy money.

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  6. [...] Om Malik on Broadband : » PublicGyan, Soical App that is a Futures Market in Everything: [...]

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  7. It is an excellent idea to have Public Knowledge Exchange. Having a public knowledge system in any subject will be of help to the public

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