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RE: Ned Scott and @theoretical of Steemit Explore Oracles on Steem

in #ned7 years ago (edited)

Great theory @ned. Under one condition.
There must be "meaningful" SMT creators, each utilizing a different combination of oracles.

A minnow like me could create an SMT, but it would have zero value. You need someone who can create a token that people are willing to trade. Only an individual or company that has massive active followers can do that. It has to be an outside force that matches your influence.

You've made clear that you're going to create Good Person Tokens but that's not what I'm concerned about. We are in the dark as to who else. In order for your concept to work you need multiple SMT creators each with a sizeable rewards pool completely independent from you.

Here's my question: what guarantees that you will not be the dominant SMT creator? (that the 2 oracles you mentioned will not be the only source of verification?)

(again, I like you. I'm just curious)