Proof of Location as Blockchain Oracle

AI Quick Summary

Proof of Location as Blockchain OracleIn this challenge we are looking for architecture solutions and business cases for Proof of Location as Blockchain Oracle.Key Wordsarchitecture solution, business solutionSubmit your project idea to us by creating a jointcreate venture. We will guide your project through the process.What’s in it for you?We help you to further develop your idea and to build a team around the project.We connect you with corporate partners and mentors from academia who can help you take your idea to the next level.You may get invited to the incubation program of our partner CV VC, which comes with the opportunity to receive up to CHF 125,000 in funding from CV VC in exchange for 10% equity. Details of the Challenge Blockchains are not able to access data outside their network. However, often smart contracts need external information to function. An Oracle service is the way smart contracts access this third-party information. Nevertheless, there is always the problem of trust towards the Oracle service. Therefore, there are several approaches to solve this problem (e.g. checking multiple services and take a majority decision).A specific kind of external information are location data. This can be the location of a person or of a device (IoT).Within the scope of this challenge, the teams should come up with algorithms and concepts for a Proof of Location Oracle service and implement a prototype. Expectations for Idea/Solution submitted The aim of the Oracle service is to provide a smart contract with a Proof of Location of an actor (person and device).Furthermore, it should be possible to calculate the distance or an approximation threshold from the location proofs of two actors (geo-fencing).The aspect of verifying the identity of actors must also be taken into account.The teams should come up with innovative solutions and are particularly intended to address the problem of trust.Finally, a business case for the designed Oracle service should be presented.

Challenge Metadata

Challenge Name: Proof of Location as Blockchain Oracle
Date: 3/26/2021 10:30:54 AM
Administrators:
- Nicolai Ruh |
- Tim Weingärtner

Challenge Description

Proof of Location as Blockchain Oracle

In this challenge we are looking for architecture solutions and business cases for Proof of Location as Blockchain Oracle.

Key Words

architecture solution, business solution

Submit your project idea to us by creating a jointcreate venture. We will guide your project through the process.

What’s in it for you?

We help you to further develop your idea and to build a team around the project.
We connect you with corporate partners and mentors from academia who can help you take your idea to the next level.
You may get invited to the incubation program of our partner CV VC, which comes with the opportunity to receive up to CHF 125,000 in funding from CV VC in exchange for 10% equity.

Details of the Challenge

Blockchains are not able to access data outside their network. However, often smart contracts need external information to function. An Oracle service is the way smart contracts access this third-party information. Nevertheless, there is always the problem of trust towards the Oracle service. Therefore, there are several approaches to solve this problem (e.g. checking multiple services and take a majority decision).

A specific kind of external information are location data. This can be the location of a person or of a device (IoT).

Within the scope of this challenge, the teams should come up with algorithms and concepts for a Proof of Location Oracle service and implement a prototype.

Expectations for Idea/Solution submitted

The aim of the Oracle service is to provide a smart contract with a Proof of Location of an actor (person and device).

Furthermore, it should be possible to calculate the distance or an approximation threshold from the location proofs of two actors (geo-fencing).

The aspect of verifying the identity of actors must also be taken into account.

The teams should come up with innovative solutions and are particularly intended to address the problem of trust.

Finally, a business case for the designed Oracle service should be presented.