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What Is an Example of a Real-World Event That Requires a Decentralized Oracle for a Financial Contract?

A binary options contract based on the outcome of a US Presidential election, requiring an objective, tamper-proof final result for settlement.
Greeks.Live05.11.25

What Is an Example of a Real-World Event That Requires a Decentralized Oracle for a Financial Contract?

A classic example is a prediction market or a binary options contract based on the outcome of a political election, like the US Presidential race. The smart contract needs an objective, tamper-proof source to determine the official winner for settlement.

A decentralized oracle network would source and validate the election result from multiple reputable news agencies and official sources before reporting the final, consensus-reached outcome to the blockchain.

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