Members of the MonetaryCoin Series (MERO and MCHI) make use of an econometric oracle that sends data from the outside world into the blockchain. For some reason, the oracle reminds me of the doomsday machine from Stanley Kubric’s Cold War satire, Dr. Strangelove (1964). Though hardly apocalyptic— the MonetaryCoin oracle does answer two critical questions with stark certainty: how many coins may be issued to forge and under what circumstances. Harness data reported by central banks, apply a straightforward mathematical formula, execute the formula with cryptographically secure machine instructions, and you have synthesized the essential quality of central bank credibility; restraint. But, like the doomsday machine, a disciplined process only works if people know about it.
For more read on here: https://medium.com/monetary-protocol/blockchains-first-econometric-oracle-and-the-monetarycoin-series-4fd051894481
For more information on the MonetaryCoin Series please see below:
http://www.monetarycoin.org
http://www.monetarycoin.io
http://forging.monetarycoin.io
https://bitcointalk.org/index.php?topic=4451079.new#new
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