Thought about Local facts

How do we put local facts into blockchain ?

Tomoaki SatoSmart Contract Japan

How to get better results about the stock price of Japanese SME company on blockchain ?

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Blockchain is not good at local factsas the google does...

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good at ‘googlable’ information, but often misresults about the private information(company, real-property pricing, how to make money ? or somethings...)

1. Add location & Language Filter2. Deposit of fact providers3. Ask many professionals

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Add location or language filteryield more good results, but not enough

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Location separation

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fact provider X

Last staked pointfact

provider X

Last staked point

Separated consensus in data level, but value can be transferrable

Proof of location

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Mobile 4 G towerGPS

GPS is not enough.We need GPRS = GPS + Cellt tower

Language separation (optional)

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ex) When you search Japanese company stock information, it’s better for you to search by Japanese.

2. Deposit of fact providers~Fact providers should have responsibility of their information~

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Deposit as professional fact provider

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sha256(PREVHASH + ADDRESS + TIMESTAMP) <= 2^256 * BALANCE / DIFFICULTY

PoS Blockchain

Fact vaildation fee +Proof of Stake Reward

Local fact provider

Local fact provider

Deposit Deposit

Local fact provider

Deposit

When a provider cheat, they lose the deposit.

Cheating = vote to minority.Losing = moves the value from minority to majority

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PoS Blockchain

Local fact provider

Local fact provider

Deposit Deposit

Minority Local fact provider

Majority Local fact provider

Deposit

Deposit

When a provider cheat, they lose the deposit and the value moves to other validator in the same region

1 fact && 1 local

3. Ask many professionals (including prediction markets)

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Prediction market as a professional

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SellerBuyer

How much is the company’s stock price of the seller ?

(what we call oracle)

Decentralized Prediction marketPrediction marketProfessional

Prediction market as a professional

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SellerBuyer

How much is my company’s stock price? Please attach your sign to your prediction

(what we call oracle)

Decentralized Prediction marketPrediction marketProfessional