Buterin acknowledged the usefulness of community notes but voiced concern.
Underneath each post, contributors have the option to write notes.
Vitalik Buterin, co-founder of Ethereum, thinks that with the help of AI and prediction market technologies, the social media platform X can speed up the generation of Community Notes.
Users may provide more context to postings that might be misleading by using the Community Notes, which is an X feature. Underneath each post, contributors have the option to write “notes” that, if deemed beneficial by a sufficient number of contributors, would be shown publicly.
During his speech at Korea Blockchain Week 2024, Buterin acknowledged the usefulness of community notes but voiced concern that they “don’t appear fast enough,” leading to confusion before they really arrived.
Banking on AI and Prediction Market Technologies
Buterin went ahead by saying that it’s “too much” to wait as long as it takes to provide background information on entries in Community Notes. But the co-founder of Ethereum said that prediction markets could hold the key.
Users may place bets on particular outcomes in prediction markets, which are open marketplaces. The decentralized prediction platform Polymarket, where users wager on hotly contested subjects like politics, sports, and cryptocurrency, is one example that Buterin provided.
He said that there may be an opportunity to ask whether a post needs community notes whenever one is created. According to Buterin, this prediction market allows anyone to wager modest sums using big AI language models and bots.
In Buterin’s view, this has the ability to motivate the participants and hasten the process of discovering the truth. The co-founder thinks this would reward those who accurately anticipated the outcome after adding a note at the end. Here, he said, you essentially have a vector that is both cheap and fast.
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