Richard Craib promotes collab among data scientists thru cryptocurrency that is connected to Numerai

TL;DR

Numeraire is a cryptocurrency and protocol that rewards data scientists for contributing accurate predictions to a collective machine learning model.

Transcript

we don't want to make a system that you have to you know sign up with a phone number and verify your identity and you'll really lose all the fun or send us your models code right we really want it to be an open thing like more like a protocol and and and that's where a lot of these things come from so concordance actually checks for a kind of abuse... Read More

Key Insights

• 🧑‍🔬 Numeraire aims to create a collaborative system for machine learning, where data scientists are motivated to contribute accurate predictions.
• 😒 The use of concordance helps ensure that predictions are reliable on new data, not just the training data.
• 💨 Giving away numeraire incentivizes participants to help the long-term success of the currency.
• 😒 Numeraire operates on the ethereum blockchain, allowing for the use of smart contracts.
• ❓ Currently, numeraire is not available for trading, but it will be in the future.
• 🧑‍🔬 The value of numeraire is connected to the parent company's equity and the payouts data scientists receive.
• 📱 Smart contracts can be powerful tools but require careful implementation to avoid unwanted consequences.

Questions & Answers

Q: How does Numeraire prevent abuse in the system?

Numeraire implements concordance to detect potential abuse, where users submit predictions that are only good on existing data but not on new data. This ensures that participants are truly contributing to the model's long-term success.

Q: What is the purpose of giving away numeraire?

By giving away numeraire, which is tied to the value of the parent company, participants have a vested interest in the success of the currency. It incentivizes collaboration and discourages actions that could harm the value of the currency they hold.

Q: Is numeraire readily available for trading?

Currently, numeraire is not available for trading, but the cryptocurrency has been announced, and the white paper and smart contract code are shared on GitHub. In the future, it will be tradable wherever ethereum tokens can be traded.

Q: How does the concept of contracts relate to numeraire?

Smart contracts are built into the ethereum platform, and they allow for the creation of agreements where certain conditions trigger specific actions. This is relevant to numeraire as the cryptocurrency operates on the ethereum blockchain and can be exchanged based on predetermined conditions.

Summary & Key Takeaways

• Numeraire is a protocol that aims to create an open and collaborative system for machine learning.

• Users are rewarded with cryptocurrency (numeraire) for submitting accurate predictions to the collective model.

• Concordance is used to prevent abuse and ensure that predictions are good on new data, not just the training data.