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So while I don't really participate in cryptocurrencies anymore I have a basic knowledge of how it all works and have read up on ETH contracts. Couldn't someone
by joshstrange 7y ago
So while I don't really participate in cryptocurrencies anymore I have a basic knowledge of how it all works and have read up on ETH contracts. Couldn't someone create a contract on the ETH network (my terminology might be off) that allows you send a message to contract with a name (maybe more PII), a date, and some amount of ETH to create the system Jim Bell hypothesized?
Obviously a big issue would be "death confirmation" as is how do we know X person is actually dead so we can pay out to the "winner"? I imagine it could be done through some kind of majority system but what incentive would other "donators"/"would be killers" have to confirm a death has happened if they aren't the beneficiary? I'm sure someone clever could think of some way to do it...
- reidjs 7y agoFor the second part, look at prediction markets like Augur.
- saagarjha 7y ago> Obviously a big issue would be "death confirmation" as is how do we know X person is actually dead so we can pay out to the "winner"? Put people on the blockchain, obviously.
- strbean 7y agoWell this just gave me a chill down my spine. It isn't too crazy to imagine this happening.
- wavefunction 7y agoAnyone could see who the "winner" is though I believe?
- Random_ernest 7y agoThe problem you describe is not really solved (at least not to my knowledge) and is often referred to as the Oracle problem in smart contracts.