The Concept of CrowdWisdom360
Crowdwisdom360 was established to harness the inherent capabilities of citizens who donot otherwise get opportunities to showcase their skills. We provide a platform for citizens to demonstrate their wisdom. In this specific case their ability to predict the Future. We then reward citizens on the basis of their accuracy. The platform is different from other gaming platforms in the sense that the rewards are based on accuracy of results that can be directly measured and therefore have a direct and measurable impact on the society around them.
CrowdWisdom360 is built around the concept of wisdom of the crowd –
The wisdom of the crowd is the collective opinion of a group of individuals rather than that of single expert. A large group’s aggregated answers to questions involving quantity estimation, general world knowledge, and spatial reasoning has generally been found to be as good as, but often superior to, the answer given by any of the individuals within the group
In the elections held in 2018, CrowdWisdom360 was the 3rd most accurate firm after having spent almost nothing in comparison with exit polling firms.
The CrowdWisdom360 Prediction Market
What is a prediction market?
Prediction markets (also known as predictive markets, information markets, decision markets, idea futures, event derivatives, or virtual markets) are exchange-traded markets created for the purpose of trading the outcome of events.The market prices can indicate what the crowd thinks the probability of the event is.
Crowdwisdom360 was started in 2017 by Subhash Chandra who is an ex-political strategist, researcher, author, contributing author and columnist based out of Mumbai. Subhash had worked in numerous political campaigns across the country until last year with emphasis on campaign themes and data driven campaign strategy. During this period he has twice been recognised by Linkedin as a Top Voice in India. Prior to that Subhash had worked closely with leading financial services firms on their marketing and product strategies with consumers. He has spoken and written on a variety of topics with specific focus on the intersection of governance, consumers and money.