Proof of Stake: By doing predictions?

What if predicting outcomes could be used for helping others and earning money?

Bitquence has come up with such a feature and have explained how it would work in a draft plan on their blog.
Bitquence is a digital asset management platform that aims to lower the barriers to entry in the world of cryptocurrencies. It does so by:

1. Creating a secure mobile cryptocurrency wallet that can hold many different cryptocurrencies
2. Being able to diversify your portfolio in this wallet in a matter of a few clicks to whatever crypto you prefer
3. Providing internal liquidity via it's token BQX, which is used for 'gas' and value transfer over the Bitquence network

These are just a few important pillars of the concept and a quick introduction video can be found here, or if you have now become truly interested in the details, check out their whitepaper.

The feature I wanted to inform you about is about their unique way of Proof of Stake (PoS). Rather than just using the tokens in your wallet as an interest as is typical in PoS, instead staking is achieved here by predicting the future movement of a given cryptocurrency, with the amount of tokens you choose.
The core features are listed as follows:

1. "Participants can predict the future movement of any digital currency price"
2. "User can stake the predictions with BQX. Predictions can be cancelled or changed with fee (BQX)"
3. "User receives BQX back based on 3 factors
   a) accuracy
   b) prediction time
   c) stake amount"

If you are within the top 50% of the pool, you would be eligible for the PoS reward. If you consistently predict incorrectly, you would pay a (relatively small) penalty in the form of tokens, however it is believed this would be less than losing a bet at your average bookmaker. The idea here is to incentivize everyone to join these predictions so a consensus can be reached that others (e.g. people new to the crypto world) can use to navigate their way and invest in the highest rated stocks. The rating coming from the predictions of course.

There is lots to do here yet, but to me the idea seems brilliant. I liked the product the team was making before, but this is just another feature that looks great and could be attractive to many people, including both sides of the spectrum; the average gamblers and the crypto experts.

Bitquence's ICO just finished last month and the interest at first was a little bit underwhelming. But eventually they did get well over the minimum cap and now have enough funds now to create a product that I believe will make a big difference to the community, i.e. experienced investors as well as people new to the crypto world. And contrary to projects like Tezos and EOS, which seem over funded, the relatively low amount of funds generated from the sale means that the people behind this project have an extra incentive and are committed to make this project work. I am looking forward to seeing their first product being made available to us. I am sure you will all love it as well.

Please don't treat the above as investment advice. I merely wanted to share some cool features of a project I have more than average faith in.

Stay tuned for more.

References:
https://www.bitquence.com/bitquence-technology/why-invest-with-bitquence/
https://www.bitquence.com/announcements/bitquence-proof-of-stake/#comment-449

Images:
https://www.bitquence.com/bitquence-technology/why-invest-with-bitquence/