Hi,
The problem with current futures/CFD/option trading services is that they all have to rely on a single company for contract fulfillment.
While this might be good for smaller speculators, for bigger ones, and for companies that want to launch services on top of such contracts, this is a no-go.
But what if the contracts were mediated by M of N oracles? If you wanted to buy/sell a put/call option, you'd lock your funds on a multisig address maintained by a set of ~10-15 trusted people and companies. Even if one or two, or five of those people/companies would disappear before contract expiration date, you'd be safe.
There are some obvious problems with this - like choosing the respectable oracles to run the system, and having a good data feed for arbitration... But those problems aside, what do you guys think?
I'm wondering if there's anyone interested in such a solution.
The problem with current futures/CFD/option trading services is that they all have to rely on a single company for contract fulfillment.
While this might be good for smaller speculators, for bigger ones, and for companies that want to launch services on top of such contracts, this is a no-go.
But what if the contracts were mediated by M of N oracles? If you wanted to buy/sell a put/call option, you'd lock your funds on a multisig address maintained by a set of ~10-15 trusted people and companies. Even if one or two, or five of those people/companies would disappear before contract expiration date, you'd be safe.
There are some obvious problems with this - like choosing the respectable oracles to run the system, and having a good data feed for arbitration... But those problems aside, what do you guys think?
I'm wondering if there's anyone interested in such a solution.
This would be very interesting and useful against price volatility
).
