Fund raising and prediction markets

[Yuri Zelikov]

Hi

I really like the lighthouse project idea. It basically addresses one of the main problems with fundraising sites - high fees. However, it doesn't address the other main issue with fundraising - fraud. Like, there's nothing that prevents someone to pledge funds without actually fulfilling the promises eventually as the fundraiser has very little skin in the game. Fortunately, it can be addressed with prediction markets. Like in order to ask for funds - one would need to create a prediction market for his project and then bid 10% of the requested amount on outcome that the project will be funded. Such prediction market will provide means and incentive for fair discovery of the probability that raised funds will be actually used as promised and the goals are feasible. 

[Lucas Betschart]

I don't think it fraud when you can enter and leave a Lighthouse fundraising until it reached the amount of money asked for.

Ones the limit is reached the transaction is valid and the money moves to the fundraiser.

[Yuri Zelikov]

But if the fundraiser will not fulfill his promise - this can be regarded as fraud.