Vitalik Buterin: Hedging on Prediction Markets Could 'Replace Fiat Currency'

In brief

• Ethereum co-founder Vitalik Buterin has suggested that prediction markets should be designed to prioritize hedging strategies, and that they’re currently focused too much on short-term crypto bets.
• Instead of developing an “ideal stablecoin” pegged to a global price index, Buterin argues that hedging on real-world events, goods and services could enable prediction markets to “get rid of the concept of currency altogether.”
• Figures in the prediction market industry agree that an emphasis on…