September 2019
Beginner to intermediate
184 pages
4h 56m
English
Content preview from Blockchain for Decision Makers
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Truth in the network
Imagine a US Open final is happening next weekend between Roger Federer and Rafael Nadal. Being a big fan of Roger Federer and being sure he will win the game, Alice bets $10 on the betting website Betwin. On the other hand, Bob, who is an experienced gambler, thinks that Rafael Nadal will win. Bob decides to place a $10 bet on the Betwin platform on Rafael Nadal's victory.
Because Betwin is a private company, its objective is to maximize its profit. To do so, the company could tell Alice that Rafael Nadal won the game and tell Bob that Roger Federer won the game. In this manner, Betwin could hold both bets without having to pay either Alice or Bob.
Why is this method preposterous for Betwin?
The evident explanation ...
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