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Knowledge markets (also called prediction markets) are platforms where users can trade the outcomes of events. This allows for financially incentivized predictions, which tend to be more accurate than non-incentivized forecasts. Traditionally, however, the effectiveness of prediction markets has been limited by their centralized architecture. PredIQt leverages blockchain technology and distributed, token-driven incentives to create a platform that avoids these issues.
In addition to facilitating prediction markets, PredIQt also facilitates a number of decentralized financial applications unique to a blockchain environment. Building upon the decentralized architecture of the knowledge market platform, PredIQt allows for more advanced and complex financial primitives uniquely possible in a blockchain world, including lending, leverage, complex contracts, and much more. All of these use cases are tied together by the $IQ token.
This paper will serve as an outline of the structure, theory, and architecture of PredIQt.