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What is Oracle

Blockchain Technology for Global Social Change
An oracle is a party which relays information between smart contracts and external data sources. It acts as a data carrier between smart contracts on the Blockchain and external data sources off the Blockchain. One way of keeping information private is to use oracles to retrieve private information from an external data source.
Published in Chapter:
Can Blockchain Really Help the Poor?: If So, Who Is Trying To?
Copyright: © 2019 |Pages: 40
DOI: 10.4018/978-1-5225-9578-6.ch006
Abstract
It is the firm belief of the authors that Blockchain and other frontier technologies will be an important tool for social impact globally. It is now possible, with technology, to envision a world where everyone has an identity, where everyone can be connected to the economic system, where farmers get fair deals for their crops, and land registration is incorruptible. Advances in solar, battery, and digital commerce make it possible to imagine even the smallest village in Africa being able to produce and trade small amounts of energy. The Sustainable Development Goals (SDGs) were a visionary leap to a future state where the world can be a better place for humankind. However, they will not be achieved without harnessing the potential of technology. Nor will they be reached alone. In this chapter, the authors profile innovative case studies in Blockchain, which, if brought to scale, may realise the technology's potential. It is through this learning and experimentation that we will learn how to deploy this technology globally for social impact.
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Smart Contract: Towards a New Contract Law?
An external factor (human or natural) affecting the execution of a smart contract.
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