The Oracle Problem
Though smart contracts have incredible potential, they are blind to the world beyond the blockchain. For external information, these applications need oracles to provide them with data. Since a contract's input determines its result, the oracle involved with a smart contract ultimately has the power to decide how that contract behaves.
Where Things Stand
So far, the approaches to the so-called Oracle Problem have each fallen into one of two categories: centralized oracles (which can defeat the purpose of even doing things with a smart contract at all) and rigid oracular consensus engines, which are difficult (and expensive) to develop, use, and upgrade.
We are taking a different approach: rather than committing to one particular solution, we're focusing on building extensible distributed frameworks and full-fledged signaling mechanisms. With these tools, we aim to build a worldwide oracle marketplace and ecosystem, and unlock the true power of the blockchain.