localfacts smartcontractjp
TRANSCRIPT
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Thought about Local facts
How do we put local facts into blockchain ?
Tomoaki SatoSmart Contract Japan
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How to get better results about the stock price of Japanese SME company on blockchain ?
tet
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Blockchain is not good at local factsas the google does...
tet
good at ‘googlable’ information, but often misresults about the private information(company, real-property pricing, how to make money ? or somethings...)
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1. Add location & Language Filter2. Deposit of fact providers3. Ask many professionals
tet
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Add location or language filteryield more good results, but not enough
tet
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Location separation
tet
fact provider X
Last staked pointfact
provider X
Last staked point
Separated consensus in data level, but value can be transferrable
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Proof of location
tet
Mobile 4 G towerGPS
GPS is not enough.We need GPRS = GPS + Cellt tower
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Language separation (optional)
tet
ex) When you search Japanese company stock information, it’s better for you to search by Japanese.
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2. Deposit of fact providers~Fact providers should have responsibility of their information~
tet
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Deposit as professional fact provider
tet
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.
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Cheating = vote to minority.Losing = moves the value from minority to majority
tet
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
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3. Ask many professionals (including prediction markets)
tet
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Prediction market as a professional
tet
SellerBuyer
How much is the company’s stock price of the seller ?
(what we call oracle)
Decentralized Prediction marketPrediction marketProfessional
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Prediction market as a professional
tet
SellerBuyer
How much is my company’s stock price? Please attach your sign to your prediction
(what we call oracle)
Decentralized Prediction marketPrediction marketProfessional