Summary first call

@meherroy notes:

Development of a cricket focused prototype app will need work on 3 specific directions:

Getting the data (oracle): Check oracle standard, figure out cricket data API and interface with Reality Keys (Edmund Edgar). Get flow up and running.
Market maker: When volumes are low, we will need to become market makers ourselves. It is unclear to us how to price these assets. Perhaps this is the topic for a future conversation when we are further along. Martin recommended against an LMSR design.
Actual User Interface: Build UX utilizing Gnosis JS to handle events and blockchain logic. Check out HunchGame for a demonstration. Take special care to understand the UX market is used to - bet formats, popular markets, language etc.

From a future perspective, following items could become important:

Off-chain trading: Martin and Stefan’s experience with Fairlay had them deal with 3000-4000 markets per day with each market order book changing every 2-3 minutes. This is far too much volume for the Ethereum blockchain.
Raiden off-chain scaling from Heiko Hees is the farthest along in enabling these interactions.
UX over IPFS: Ethereum makes it hard to clamp down on the app from a money transfer route. However, a centralized UX architecture still keeps the IP blocking route available. IPFS would be great to distribute the UX as IP blocking also becomes in-feasible.
Stefan’s feedback is that IPNS is too slow today for a good UX. In a year, this route could become feasible.

Competencies and monetization

UX and attention farming: One competency we could focus towards is building great UX and figure out the right channels to reach a broad audience. Monetisation is unclear but the ability to direct a stream of money into certain preferred markets should be valuable.
Market making: Being able to offer the right odds depends on market type and is a different kind of competency. The monetisation is the spread offered for bets in the opposite direction.
In the beginning, we will need to focus on both, but can choose to branch into a single competency in the future.

Regulatory framework

It is unclear which party assumes legal liability for an app built on Gnosis. The UX is the obvious point. On the other side, the UX is purely a listing service like Craigslist. Several jurisdictions allow companies to create and host such UXs.

Gnosis DAO

Gnosis over Augur: Gnosis emphasizes cheaper and more performant (but centralized) (we have also a decentralized one) oracles. Gnosis team is building tools and interfaces that enable UX developers not to have to deal with Solidity code and smart contracts.
DAO: Will probably follow the Slock IT DAO framework, and invest in ideas / other DAOs built using Gnosis. A “service provider” to build the platform will also exist.

The easiest is to copy the prices of existing bookmakers: IPL Betting Odds, Cricket India

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