Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs.

Future Technologies is to transform our lives for better or worse or the focus of this podcast.

Almost here means these technologies are now here and starting to be used.

Or just around the corner, for Bitcoin to artificial intelligence,

3D printing, blockchain, virtual reality, and more.

Hello everyone and welcome to Future Tech Podcast.

I'm your host, Juliet Lamar Lamar and with us today we have

Jason Troth. He is the founder and CEO at markets. Welcome Jason. Thank you very

much for having me. I'm really excited to be here.

Absolutely. So I'm on the website right now for much for

some having to be here. I'm on the website right now for Smarkets and there is a lot going on.

So why don't you kind of disassemble what I'm looking at here?

I know it's quite overwhelming a group of numbers, but basically once you kind of wrap your head around it, it's quite simple.

But basically what smart it is, it's a prediction market.

Prediction markets let people bet on the future to happen or not.

So there's lots of ways that we look at the future.

Probably one of the most tangible ways that people might be able to wrap their head around this is the weather

forecast. So like if there's a 20% chance of rain tomorrow you can agree or disagree and the

thing that a betting exchange or sorry a prediction market slash betting exchange in the

UK but in the US we call them prediction markets the thing that the prediction market lets you do

is if you think it's more likely than 20% you can buy their chance of rain tomorrow or if it's less likely you can sell the chance of rain happening tomorrow

So you can sell 20% so what we do is we take that principle and apply it to all kinds of events

...