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Thanks for the great speech yesterday morning. Wanted to ask about double deposit escrow as a means of p2p contract enforcement, but we didn't have time. Wouldn't each party (who are incentivized to complete the contract) be the ultimate input source for the contract's oracle?
Verifying the performance of a party (one or both), if the performance is done off-chain, is an oracle. It can't be trust-minimized as much as on-chain activities can, but with some extra protocol can often be made sufficiently secure.
...to verify my performance off-chain, despite those incentives. Could there have been any additional mechanism to further reduce his need for the verification of my performance... to the point where it becomes negligible?
Your query is very specific to particular kind of deal. For real estate, typically there is a competent local jurisdiction & verification of performance is largely manual, so for the foreseeable future it will rely much more on the traditional deed etc. than on a smart contract.
...to verify my performance off-chain, despite those incentives. Could there have been any additional mechanism to further reduce his need for the verification of my performance... to the point where it becomes negligible?
Thanks for the reply. At what point could performance incentives / protocols be strong enough to provide that sufficient security? I ask, because there were collateral + time-based + reputation incentives (all on-chain) on a land deal I completed last year. Buyer still had... ->
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