3 ms·
The oracle acts as a verification that the statement "Jane put 1M USD in fund X" is true, but anyone else can verify the data too. The fund can be regulated no
by riffraff 7y ago
The oracle acts as a verification that the statement "Jane put 1M USD in fund X" is true, but anyone else can verify the data too.
The fund can be regulated normally, and will be subject to existing transparency rules on reporting its net assets.
Since any observer can verify when an oracle is lying, there is a disincentive in doing that (also, the oracles are sitting on a perpetuous revenue stream if they don't fuck up, and have no interest in scaring people).
Sure, the founders can change the rules as they go forward, but at the moment there is no reason to think they would create money ex aere just to cash a quick buck killing the system.