ITT we post usage scenarios

We always play connect the dots
How about we list usages

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-Automated Insurance policies
-Budgeted payments based on completion percentages like in construction or film
-Derivatives market
-Legal agreements
-Data entry positions obsolete

Basic Chain supply
Business contracts with specific SLA's that have to be met.
Gambling websites like TOTO
Marketplaces like Ebay
And way more things....

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>syndicated loans
>real time gross settlement
>credit default swaps
>mortage lending
>IPOs
>leveraged loans
>stock exchange market infrastructure
>supply chain documentation
>loans and crowdfunding
>automated claims processing (insurance)
>fraud prevention

and more

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GoFundMe but for legal cases. People pay into a fund for someone who can't afford it, they get paid back a percentage of the money won in the case.
People who can't afford justice get it, you stick it to big corps that try to bury little guys, and backers get money while feeling good about it.

Can someone recommend me some porn with girls wearing shoes like that?

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vending machine that tokenizes its products onto the blockchain. Ai will create a smart contract the second the item is selected. Once the purchaser confirms that they have entered in funds/crypto the smart contract will be completed when the machine confirms it has the supply and drop the goods. The machine will have a pressure pad on the bottom whenever a good is purchased that truly end the smart contract so there will be an exact count of how much was sold.

These all seem pretty comfy

Actually come to think of it can Chainlink feed on chain data to off chain databases
Or is it only for off chain to on chain

these are the most realistic. Good job user.

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>employ a lazy retard for 8.50/hour who makes constant mistakes
or
>use smart contracts which costs a fraction of the wagecuck but gives better results, is faster and 24/7 online

hmmmm what would a business do....

It can be everything actually. I currently work at a ISP were we don't keep a big inventory thus constantly order everything from our supplier. Instead of having our financial manager make those contracts, we could make a smartcontract with a click of the button.

I'm not so savy to think of other things, but there are probably countleess more. Everything basically that needs a contract could use chainlink.

You just described why chainlink is important. You cannot delete or mutate immutable data on chain. It being correct is what chainlink does.
Revisions will have to be handled by whatever dapp is being used.

I'm sure pajeets and ugandans are going to give me a better price estimate on a 70's Corvette than Kelly Blue Book will.

if node operators fuck up they get punished by losing some of their Link that was locked by the smart contract for penalty.

what does that even mean?

I can fire the retard, I can't fire anonymous Thai teenage node operators.

the point is you don't need to employ the retard in the first place because smart contracts automate his job.

>I can't fire anonymous
you don't have to because the Node operators incentive is to deliver correct data to your smart contract so they can operate at a profit.

You can't control people without complex hierarchical structures that, frankly, do not work well.
A smart contract can account for all corner cases and function despite who is operating a node. It doesn't matter. People don't have to matter anymore and it's going to make us free from shitwork.
Wasting lives on shitwork is the default and is horrid for everyone involved.

>it being correct is what chainlink does

And how do you know it's correct, user?

What if I'm a meat supplier and I keep needing data for pork and since Muslims are 25% of the world, it's easy for the amount of Muslim node operators to skew the data?

Who decides they fuck up? Do I just call that guy up and explain the situation?

I sure hope he has enough time to take my call.

read >the Node operators incentive is to deliver correct data to your smart contract so they can operate at a profit.

its all automatic, you don't have to call anyone

That means that this platform is a simple means of outsourcing data collection to the third world. It's a fancy globalism machine. Oracles don't exist, you're just crowdsourcing sensitive information to the rest of the world, which unfortunately has many, many more low IQ people than it has high IQ people.

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being this fucking retarded to think that people will be involved beyond coding and automated data gathering

>It's easy to coordinate distributed oracles
>Why not use Johnny smoke-a-bowl-at-lunch instead?
Not sure why I'm responding this shit is just pushing an agenda

They gave real world examples, I gave them real world execution.

DO NOT try to tell me that Italians and the Chinese have higher IQ's. BULLSHIT

more smart contract use cases:

>Trade Clearing and Settlement (manages approval workflows between counterparties, calculates amounts and transfers funds automatically)
>Coupon Payments (automatically calculates and pays periodic coupon payments and returns principal upon bond expiration)
>Micro Insurance (calculates and transfers micropayments based on usage data from IoT devices)
>Electronic medical records (provides transfer and/or access to medical health records upon multi signature approvals between the patients and providers)
>Royalty Distribution (Calculates and distributes royalty payments to aritst or associated parties according to the contract)
>Record Keeping (Updates private company share registries and capitalization table records)

maybe read the whitepaper first before talking uninformed retarded bullshit.

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>okay guys, we could hire Jason. He's a food broker with eight years of experience, he can do all sorts of market analysis on meat supplies in North America and Europe. In a sense he'll serve as an 'air traffic controller' supplying data and direction for all our supply chains and market choices. He's 150K/yr and will generate billions in profit.

Or we could get readouts from this chain link thing. It just scrapes info from other spaces and relies on humans desperate enough to need to google data to validate it all over the world. It introduces a huge amount of risk and costs about $100k/yr for the number of requests we would make and the amount of consensus we need. It probably takes a few months to get any new information we might request.

They do. There's just different kinds of IQ. Personality plays a part too.

China gets eugenically cleansed every few centuries so they're kind of a special example. The most recent one was Mao's Great Leap Forward in which they purged pretty much anyone with any level of independent thought or inability to execute, resulting in a high IQ population of bug people.

its distributed ledger technology.
it can be applied to literally anything digital.

Automated crypto portfolio and asset management

Competitors to Coinbase for easy onboarding/sales of crypto using existing payment services (like buying crypto with PayPal).

Payment with crypto that reconciles to fiat in real time at the point of sale to finally see adoption as a currency.

>retard keeps on with his uninformed rambling

cringe

I have. You can tell that Sergey is a philosophy major because one of the main tenants of engineering is not to overcomplicate something. Chainlink is an overly complicated solution to problems that can be solved much more efficiently.

>manages approval workflows between counterparties, calculates amounts and transfers funds automatically

You can do that for anything with 100 lines in Python

>automatically calculates and pays periodic coupon payments and returns principal upon bond expiration

World Market has that, their single rewards database server that costs a max of $300/yr emails me coupons when I meet the right criteria. They also don't have to open up their sensitive consumer data to other competitors.

>calculates and transfers micropayments based on usage data from IoT devices

Or they could just upload to a server through https and perform the same action just like Progressive and others already do.

>provides transfer and/or access to medical health records upon multi signature approvals between the patients and providers

zero reason this needs to be done on the blockchain, for such a narrow use case of data, you're spending much more money and resources distributing the files rather than storing them locally and keeping a remote backup on AWS.

>Calculates and distributes royalty payments to aritst or associated parties according to the contract

This is already done with better efficiency than a distributed system. Again, calculating and adjusting things like breach of contract, accidentally ruining a show, bad weather all modify terms and require more arbitration than "lol, don't worry, 51% of node operators voted this way"

>Updates private company share registries and capitalization table records

Again, quality of data when you outsource is drastically lowered. If you want a good example, go look up Amazon's Mechanical Turk.

You should be able to refute me easily but for some reason you aren't.

Or can't.

>trusting 3rd parties instead of trustless middleware

lol k

who am I ? rory or what? go into the official chainlink telegram and annoy him and Hodges with your retarded brainlet tier questions.

Alright, where and how does the trustless middleware collect this data?

If you're just using basic AI to pick out information then there's literally no point in having an on-chain middleman for values.

Can't it is then.
Thank you for your straightforwardness.

>he doesn't even know how it works
just read the whitepaper or one of the hundred summaries of it out there you stupid shit.

It's not hard to logically work out the conclusion to the marketing fluff you've been reading.

Tell me in plain english how you think these values are going to be validated and stored. Are you sure you don't need to read the whitepaper again?

>please spoon feed me

no

Second "Can't" admission.
Anyone else want to take a shot?

>please anons I beg you please spoon feed me pleeeeeeeaaaaasee I'm too retarded to figure it out myself

lel

Anyway, all this is the long way of saying you fags better buy Holo.

Threads like this remind me of my autist college suitemate telling everyone they're stupid for not building their own os and spending every waking moment studying linux like he did.

Even if you're technically right it doesn't mean you aren't a sad autistic turd. He thought Google would want to hire him. I think he lived at home for years until he went full weaboo and moved to Japan. Sad.

Cryptos dead. Get out now

Homosexuals employ chainlink tech