Thank you for the question Steve. Oracles in Blockchain are feeds of data that are not created on-chain rather accessed over the internet from off-chain sources.
There are numerous oracle providers in the space which could be considered centralized if you only utilize data from 1 as opposed to multiple sources. This is no different than blockchains using the same RPC farms as opposed to direct RPC calls between the browser and the node like on SagaChain.
In the case of US Economic data, there is only one originating source which is the US Government, specifically the Labor and the Commerce Departments that all oracles would be gather data from.
We are not a “Flatcoin”, as we will be managing an appreciation of the Purchaser Power of SagaCoin not it’s price. The US indices will only be utilized during the first 30 Quarters, which we anticipate the internal economy of SagaChain will be at a point that we can use the SagaChain GDP and CPI to manage a zero inflation/deflation supply to transaction volume and a Stabilized Purchase Power.
We will be utilizing data directly from the US Bureau of Labor Statistics https://www.bls.gov/cpi/ for CPI Data and will utilize Bureau of Economic Analysis for the GDP Deflator and https://www.bea.gov/data/prices-inflation/gdp-price-deflator and the https://www.bea.gov/data/personal-consumption-expenditures-price-index for personal consumption expenditures which are all adjusted for inflation. All are adjusted for inflation which means we will not be mirroring the US dollar purchase power, rather appreciating against it.
Now, can this be considered centralized? There is only one true source for the numbers so in essence, yes. However, the numbers are only generated from that single source.
We have published a newer article on the Management Model at https://prasaga-official.medium.com/prasaga-sagacoin-management-model-1501bbd1a9e.
We have also charted out what how the Model would have reacted over the last 30 quarters of US economic activity https://www.prasaga.com/sagachain/sagacoin/
