Vitalik Buterin Introduces Info Finance as the Future of Ethereum, What’s the Potential?
2024-11-11
Bittime - Vitalik Buterin, founder of Ethereum, introduced a new concept called info finance which combines blockchain technology and AI.
So, what is the concept of info finance and what is its potential? Read this article to find out more!
What is Info Finance?
Vitalik Buterin explained that info finance is a framework that enables the collection and dissemination of accurate and transparent information.
The goal is to create a marketplace that can effectively extract and share insights based on existing data, without influence from third parties or the media.
If you want to find information, users can use info finance to design specific markets to obtain this information from market participants.
In other words, info finance is a tool for creating a market that can collect useful and valid information.
Read Also: Cardano Price Rises After Rumors of Collaboration between Cardano Founder and Trump
Info Finance for Market Predictions
One of the important elements in info finance is market predictions. Buterin considers prediction markets as a tool for gathering insights about market predictions.
For example, Polymarket is a platform where users can bet on various events to generate data-based insights. That way, prediction markets can provide accurate information about public expectations without bias or sensationalism from the media.
Buterin said that the concept of info finance could be a three-sided market. There are parties who make predictions, readers who read predictions, and the market itself which produces predictions that become a source of public information.
In this way, info finance is not just a place to bet, but also a tool for obtaining accurate and reliable information.
Info Finance Using Blockchain and AI Technology
Info finance relies heavily on blockchain technology and AI to support a transparent information sharing process.
Blockchain allows information generated from market predictions to be verified without intermediaries, so that user confidence in the data obtained can increase.
Additionally, AI plays an important role in reducing transaction costs and optimizing markets to produce high-quality information.
With blockchain and AI technology, info finance can still operate effectively even in markets with small transaction volumes.
Info Finance Concept: ETH Price Hits $3,000
Source: Bittime.com
Bsynonymous with the introduction of konsep info finance, the price of ETH reached more than $3,000 in the last week.
ETH price rose about 21.67%, breaking the $2,800 resistance level and surpassing $3,000 for the first time since March.
Based on the Bittime market, the price of ETH was at IDR 49,407,871 or around $3,142 when this article was written.
Meanwhile, Ethereum is predicted to enter "scarcity mode" or scarcity mode. Scarcity of ETH supply and increasing demand will lead to further price increases
Read Also: Palapa Token Wants to List, Find Out About PLPA's Tokenomics and Roadmap Here!
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Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
