Solving an age-old problem – how can we ever be sure something is true?
This problem becomes even more acute of a smart-contract relies on its being true. Could decentralised verification based on RDF be the answer?
Today’s guest, Michael Hirn, began his own fascination with coding at the age of twelve; at high school he was already running a software services company; and now he is bringing trust and transparency to the token space with Rlay – a truly decentralised, incentivised rating and verification system.
As he says himself, I am a person, and I want to sell you this thing. How can you be sure I am who I say I am, and that my product or service is worth having? Likewise, if your smart contract depends on information from the real world, how can you be 100% sure of those facts?
Michael wanted to get into the decentralised verifications space from the outset, helping startups reduce the time and cost in running ICOs. Thus Rlay was born – with three stand-out features.
Firstly, it incentivises people to upload and agree with information that is relevant and true, by rewarding with Rlay tokens; second, it doesn’t use English as its base language, as that is counter to Machine Learning, but instead uses the Resource Description Framework.
And third, this is what Michael calls the Truth of Coherence – facts need to work together.
Bringing this non-English Resource Description Framework into the blockchain ecosystem, Rlay intends to help speed up the process of verifying, rating and weeding out the good from the bad ICOs and making the token space a better place to do business.
Rlay is already testing, having just launched its testnet which in turn will get its tokens out and moving among people who are genuinely interested in this RDF based system – and not just speculators. The software can be downloaded and played around with – testing statements and proving them to be true, with people agreeing with facts and sharing them further.
Interested in giving it a go? Test the system at Rlay.com/app
- In the words ‘Michael Founder Rlay’, the end user doesn’t need to know who Michael is, nor what Rlay is, but the underlying fact is true, and can be verified.
- One word written into a jigsaw puzzle does not mean it is right; only when words start working together are you getting somewhere – and when the puzzle is complete, you’re sure of your facts, then extra words can be added, ad infinitum.
- Resource Description Frameworks have been around for 20 years.
- By agreeing with a fact as true in this system, the user is unaware they’re taking part in a verification process.
- There’s an issue around storage in the blockchain space that stops a lot of developers taking the next step on their DAaps.
- Michael tried various options including beta bases, oracles, predictor markets, but they were all hampered by:
- The amount of available data
- The cost and speed of verifying
- Security – which was vulnerable to attack.