Mariano Conti ~ CDPs and MCD: A Look Back with Maker Panel

[Music] in connecting the data suppliers all the way to thee and to the data consumers so we would just like to encourage the proliferation of more people being compensated for recording interesting data and I think a lot of that will occur when data insurance becomes a thing so if you can start insuring data feeds you can use those premiums to compensate people all the way down to the IOT devices or people putting weather weather data devices out in Puerto Rico and seeing what the wind speeds are so that's I can just speak to that but I think competition is usually the best way for me the position of sitting here is easy because we're not competing with with you guys in any way our our goal is to make data available and that will of course benefit all of you there's two there's two aspects to making data available one is building the infrastructure that can be used to hold and transport that data but the other aspect is incentivizing people to share data to to make it available like it doesn't magically become available the person needs to choose to make it available and in there we can work on stuff like adding possibilities to monetize your data and so on so data will become much more flexible and much more available compared to the current siloed situation that exists today and I would assume that probably for you guys the typical use case is to fetch data from some web API and then transport it to a smart contract but the Web API is is another silo it's varner about to do saying it doesn't give you guarantees about the origin of the data you can prove that it was fetched from that API but not beyond right down to the down to the individual user or IOT sense or whatever and this is something that we are we are hoping to enable for you guys Thanks I think collaboration makes a lot of sense because at the end of the day from the perspective of the end user they're gonna probably want in many cases to use multiple Oracle's in my opinion and even if they don't want multiple Oracle's they're gonna need a framework to understand what an Oracle's quality is right the Oracle is such a critical piece of how a contract ends up working that there's gonna need to be a framework that describes this Oracle is reliable this Oracle is less reliable and this Oracle is unreliable and that framework is gonna have to be presented to the user to show them you know this is how much you can pay for a more reliable Oracle with these features with these guarantees this is how much you can pay for less reliability maybe you get less reliable Oracle's but more of them maybe you get more reliable Oracle's but fewer of them it's it's not completely clear how that's going to evolve I mean from from my perspective I think the the thing that that makes sense is that the space comes to some idea of this is what defines a reliable Oracle this is what a user should consider to be capable of reliably triggering their contract right so that's I mean that's part of what we're working on but that's why I have this belief but at the end of the day I think what would will evolve is there will be multiple entities that provide Oracle's and there will just be a way to choose among them on the basis of industry standard design patterns that you know this design pattern provides me certain guarantees Here I am I'm gonna buy these Oracle's excellent so to follow up on Mariano's suggestion of having like a public discussion on this I think that already saw me a piece being discussed and also within the ET de mettre Paris Alliance rests on discussions going on however they just cover the needs of like some parts of like the war here we are currently doing so what my previous question wanted to somehow trigger and I think I failed on the front is trying to understand like how many components at the oracles in general have if we have to abstract them out and like on which of those components our projects were mostly focusing on I think we can follow up on this discussion later and we don't have time for questions maybe for a very quick one from the audience very quickly thank you I guess that's why many of the system's here propose some kind of incentive mechanisms but maybe yeah you can go answer yeah yeah I mean that's what chain link seeks to do we seek to make a open source impartial framework that is community driven around how do you define what a reliable Oracle is and then make a network where anybody who wants to participate as an Oracle operator can provide a service as an Oracle operator as a company as an individual whatever and then they their performance their security guarantees are all assessed and represented to end-users so that's I mean that's what we do yeah I think I think this is also strictly tied to your previous comment on the fact that we don't know yet how much people and applications are willing to pay to get data the moment I think on public launch in Oracle eyes is probably the most widely used and right now most clients already complain for a cost of five cents so we don't know yet probably if this is in few years is the case there is not not probably much space for punishing or requests which are not behaving well but time with that well in the case of our Oracle's you can everything is open source to smart contracts the the software we use for each operator to push the prices so if you just know what you're looking for and read some documentation you can actually go and go back two years and look at block per block per block of what the prices were if we if we they were correct or not and we've seen people come up with with their own assessments and say like during the first couple of months they were saying hey they were so shitty and I said yeah okay that was just like my computer running them like before we were even live right so give me some slack how many sounds like with that but after that they became like very reliable so if everything is on the blockchain you can at least the data you can easily verify if it's correct or not yeah it's the same for us and I'll just make this quick but we we have all of our Oracle data going back and and people can look at that and make their own assessment we also provide tools to look at the data sources we're going to provide for whatever custom Oracle you need and see into the reliability of that underlying data we can provide models to predict like whether we'll report in the future and then I think also insurance will make it easy for the lay user if a data feed is insured then all you need to know is what your damages are and purchase a contract with a premium that matches those damages and then it's as simple as buying insurance you don't need to worry about any failure of data you know as we've discussed here not not all day that should go to the blockchain only only kind of aggregates or validated values when when needed which raises the question of how to like the raw raw data sources where it comes from you can have various tactics there to to kind of leave it up to the community to discover via different kind of reputation systems and so on and this is something that we're building for the streamer marketplace but it's always good to have many different data sources if it if it's possible in the use case sometimes you just have one and then you can maybe only rely on you know things like the identity of the producer of that data so it's an interesting field so thank you to all the panelists for sharing their thoughts and to the audience for the attention thanks thanks for joining