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I have to agree aside from the nonsense coins there is something going on about Defi that makes me think it could rewrite a lot of capital markets. The beauty
by monkeydust 6y ago
I have to agree aside from the nonsense coins there is something going on about Defi that makes me think it could rewrite a lot of capital markets.
The beauty of it is that it's all software, no middle, back office teams running reports and reconciliation processes.
- mustafa_pasi 6y agoIt's not all software though. There must be an office somewhere where any actual real world assets are somehow linked to tokens. This is what puzzles me. When you add that one office, you loose the decentralization aspect and then what's the point of it all?
- programmarchy 6y agoYes there must be interfaces with the real world. The classic example is a “tooth fairy” insurance policy where a smart contract yields a coin if the user loses a tooth. How do you verify “proof of tooth”? This is where the concept of an oracle comes in. Chainlink is attempting to provide a decentralized, tamper-proof oracle network for smart contacts so if you want to know about the cutting edge look at what they’re publishing.
- jerry1979 6y agoDo Chainlink oracles offer any kind of benefits over Discreet Log Contracts like the ones we see on Suredbits[0]? [0] https://oracle.suredbits.com/ https://oracle.suredbits.com/
- monkeydust 6y agoBut are you not then putting your faith into a central party (Chainlink) even if they apply some level of decentralization as to how they say publish a price level?