/biz/ - Business & Finance

>>55320229
1. Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands

2. It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the external data is a transaction of Dollars for ETH. So you send dollars to bank account X, and then I send Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.

Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the dollars have been sent -- onto the blockchain using data that the smartcontract understands?

>>3847888
>>3847898
>>3847915
>>3847939
>>3847954
>>3847971

1. Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands

2. It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.

Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands?

>>3839042
This allows the trustless and tamperless translation of the data from the source to the smart contract, which opens up a whole world of possibilities. I wrote a couple examples to help open your mind to it:
Securities smart contracts such as bonds . . . You have a Bond which you have a smart contract for which is fed market data through an oracle, calculates the effective interest rate and payment based on the terms of your bond, and processes your dividends through a payment network oracle (SWIFT Payment network)
Insurance smart contracts, which uses data from IoT devices in your home to support claims for insurable events, such as your fire alarm or home security system automatically beginning a claim with the company providing your personal property insurance when one of those events occur.

>>3740070
>>3740857

PART 2

https://image.slidesharecdn.com/worldeconomicforumtippingpoint2015blockchain41-170330211144/95/world-economic-forum-tipping-points-report-1-638.jpg?cb=1490908469

They were selected by the World Economic Forum's Tipping Point report as the "Shift in Action" for Smart Contracts, for their work on allowing smart contracts in the Bitcoin network to be automatically triggered by external data.


https://create.smartcontract.com/#/contracts/cc3ea3c76b5a60f171e0eaf223146f34?tab=info

They partnered with Cornell's IC3, to help launch the first Intel SGX secured link between smart contracts and external data. This more secure way of running an oracle is the future and are together moving it forward.
They've been chosen as a 2017 Blockchain Applications Cool Vendor by Gartner. This validates the value that CTOs and CIOs see in their more secure approach to connecting smart contracts with critical external resources.


https://www.gartner.com/doc/3698947/cool-vendors-blockchain-applications-

(Featured in GARNER)
They're proud to be working with SWIFT on their own SWIFT Smart Oracle. Allowing smart contracts on various networks to make payments, send governance instructions, and release collateral with over 11,000 banks.

https://www.slideshare.net/slideshow/embed_code/key/HJglipax9KmMPx
0x47F77259FB9EaFC401cD427802d63567f3C16109 PLS SEND LINK HERE :( t. poorfag


(More info coming)

GARTNER

>>3707024
>>3707061
Shared on the SmartContract slack cause we ain't fucking plebs.