/biz/ - Business & Finance

Pretty sure the anon in the archived thread is Paul Brody or in league with him. To summarize the coindesk article: Paul Brody's opinion is that a decentralized network of oracles isn't quite enough, a "third" (fourth) party will be needed to audit a firms reporting/data management processes via an "attestation report" or a systems of control (SOC) audit; these are human, off chain processes that are needed when the data source for a smart contract is centralized; there will be networks and competing firms of these "blockchain auditors" creating decentralization and keeping the service inexpensive.

bömp

>>22499989
thanks anon, glad to see you're still digging.

there will eventually be specialized oracle networks that only report data pertaining to reputation. these will comprise the beast's proprioceptive infrastructure

>>22500129
>these are human, off chain processes that are needed
what if auditing entities just installed monitoring software in sgx enclaves

>>22500213
>there will eventually be specialized oracle networks that only report data pertaining to reputation
Reputation of whom? Firms and their database procedures? Individuals? Other oracle networks?
>these will comprise the beast's proprioceptive infrastructure
Thanks for the visualization.

>>22499989
An arbiter you say? Perhaps an Arbitrum arbiter since that is literally the definition of Arbitrum?

Knowing sergey he will either have it built himself or aquired from Cornell if it has value for the ecosystem

>>22500261
>monitoring software in sgx enclaves
My understanding is that trusted hardware is on hold as a privacy preserving tool at the moment due to premise-breaking side channel attacks, see "Foreshadow" and this blog from Ari https://blog.chain.link/town-crier-and-chainlink/
DECO and/or other ZK tools could be used to prove statements about the firms' databasing techniques I suppose though. But Body's claim in the article is that ZK tools are insufficient. I don't fully understand this claim.

>>22500281
Sure, but as of now, Arbitrum simply computes solidity contracts trustlessly off chain at high throughput, it has nothing to do with manual human arbitration (I'm not sure what that really means even).

>>22499989
https://twitter.com/pbrody/status/1305711546102878209?s=20

>>22500315
jesus how do you not get it? He is just saying that EY is needed to do audit to make sure that the third party systems can be trusted/have good processes in place and are auditable. Are you a brainlet and dont know what EY does?

>>22500401
I know exactly what they do and I understand that they want to and could play a useful role, yet he used plenty of language that implied oracles as they are would not perform sufficient services and that a separate arbitration platform would be needed. He did not use language that implied this platform would be Chainlink or a new Chainlink module.
>>22500396
Thanks big big

bump

Link is in a perpetual state of stealth, how is that so?

>>22500401
Yes this. The whole op-ed is just a shameless plug for EY to stay in business

>>22500713
Because they're constantly making new shit to augment the framework. My semen levels are reaching critical mass

>>22500129
> who watches the watchers
Decentralization means that everyone is watched by everyone else in a transparent environment like the KGB

>>22500744
checked. are legacy institutions even relevant anymore besides being placeholders that will dissolve during the 4IR

>big four shilling link
>literally dumping right now

>>22500800
They'll run nodes.
>>/biz/thread/S14514053

>>22500800
Right? I was just thinking about this earlier. We are all waiting for Swift when what most likely will happen is something new comes in and does it better and cheaper without banks. Most of these institutions are not needed

>>22500276
reputation implied by any quantifiable attribute that could give insight about the fidelity of an oracle. database procedures, past performance, personnel (whose worth are also quantified and reported by appropriate oracle networks), infrastructure health, insurance coverage/bonding, all of it.
whatever it is, the sensors will have sensors

>>22500834

I don’t know about you all... but because of Corona this is the first time since college that I’ve felt alive. I have lots of silver and been waiting for something like this to happen for 5 years. The point where things get so bad that 1 silver merc dime will buy me a blowjob from a formerly well to do housewife and her 18 year old daughter at the same time. I’ve been waiting in the shadows laughing at these cuck husbands who buy their wives range rovers instead of buying silver bullion... knowing that I’ll be face fucking their wives mouths for the 1.30$ it cost me to buy that silver dime.

Just yesterday at Whole Foods I seamlessly entered into conversation about Corona with a roastie milf that had a ring on her finger in the water aisle... and I said this is all a cover for trump to bring us back on a gold standard. She started looking at me in amazement like she wanted me to paint her lips in cum. At the end of the conversation I’m like take my number l have plenty of protection and freeze dried food if you ever need it and she took it from me

>>22500840
Does anyone know where this photo originally came from? How did biz obtain it and was it Sergey’s revenge on Blythe for leaking insider info?

>>22500800
Basically this >>22500840
All Paul is trying to do is give EY a leg up on the other big 4. Blockchain solves the accounting problem. Paul is saying "hey! wait a minute EY still needs to account for the Chainlink nodes and Ethereum blockchain"

>>22500861
>whatever it is, the sensors will have sensors
I see, thanks.

>>22500840
> the forbidden feet of Blyth Masters
based wagie node operators kek
>>22500849
they're just used by more people at this point rather than being better. no wonder elites want people fighting. maybe there will be civil wars to lower the population then introduce this mainstream... or we just stack the wagies and literally kill the middle class

>>22500861
> infrastructure intensifies
based
>>22500867
> based pm pasta
anal sex with all her friends and daughters for an oz of silver?
>>22500886
human oversight on a transparent ledger? kek yeah that's a good argument like "you need an accountant" when now in my country your work sends your income statements directly to the government. All we need are submissions to claim live like I bought x claim it back on tax straight away.
also wagies could be paid on the hour every hour using smart contracts
financial systems are so fucking outdated it's laughable

PARSIQ

>>22500972
>anal sex with all her friends and daughters for an oz of silver?

Too much. Maybe a Morgan

>>22500992
> stacks Morgans
based and silver pilled

>>22500840
In unrelated but still related mommy news, bsn announced yesterday that daml will be the standard smart contract language for China

>>22499989
Damn, good link OP
Literally exactly what Brody is saying in the coin desk article

>>22501033
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>>22501101
based. it's happening
>>22501169
kys faggot

>>22500849
swift is chainlink. they designed the interbank communication standard and through sergey have generalized the scope for a world where everything interacts with accounting infrastructure. swift prison planet isn't a meme

>>22501101
Big.
https://www.isda.org/2019/04/09/digital-asset-and-isda-introduce-tool-to-help-drive-adoption-of-isda-cdm/
ctrl+f: DAML

https://cloud.google.com/blog/products/ai-machine-learning/how-we-built-a-derivatives-exchange-for-google-next-18