Problem: Organizations in the construction industry trust in centralized sources (employees or vendors) to provide them with accurate measurements of products on construction projects for cost calculation, market analysis, etc.
Proposed Solution: ecosystem for prediction markets, like Augur, but for quantities of products on construction projects instead of outcomes of events. Think of these markets as scavenger hunts where
estimators, or miners, are rewarded more for reporting more accurate quantities.
Process
- Client posts documents to publicly accessible file system such as Dropbox or IPFS
- Client creates a market with reward funds and the following inputs:
- Data: dictionary of File URI (key) - Product List (value) pairs. (e.g {“https://www.dropbox.com/s/g37wpl5hl2a5ynb/seosample1.pdf?raw=1”: [“Filter Sock”]})
- AccuracyMinimumThreshold (AMT): uint256 value between 80 and 100 (The higher the number, the more accurate the client wants their estimates)
- RevealDate: uint256 timestamp when estimates are revealed to the client and when the reward is allocated.
- Miners use the URIs to predict quantities for the listed products, then they post their predictions (P) to the secret contract.
- When the reveal date is reached, the predictions are revealed.
- The average (A) of the revealed values is computed and is announced via the contract’s oracle function.
- The contract proportionally rewards every miner whos reported values exceed the minimum threshold (if { A - P >= AMT }(calculateReward())).
Does such a system already exist on this platform or another one?
If not, can this kind of system be built?
Thanks.