Oracles — is an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used by smart contracts. In our case, using an oracles means receiving data from outside of a blockchain.

Oracles are radically important. Just like the ancient stories could never have occurred without proper external information, smart contracts cannot function without some data source. Without access to these sources of information, use cases for smart contracts drop to just a tiny fraction of their potential.

However, with these systems, smart contracts have real world applications in virtually every field available. Once data hits the Blockchain, the information can be used to execute the contracts and provide use cases, which can disrupt industries across the board.