The problem Themis ⚖ solves

An oracle enabling Purchasing Power Parity on Ethereum to allow for more equitable and dynamic pricing of products allowing you to send and receive payments normalized to the geolocation of the users.

A popular macroeconomic analysis metric to compare economic productivity and standards of living between countries is purchasing power parity (PPP). PPP is an economic theory that compares different countries' currencies through a "basket of goods" approach.

According to this concept, two currencies are in equilibrium—known as the currencies being at par—when a basket of goods is priced the same in both countries, taking into account the exchange rates.

Takeaways

• Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts that compares different countries' currencies through a "basket of goods" approach.
• Purchasing power parity (PPP) allows for economists to compare economic productivity and standards of living between countries.
• Some countries adjust their gross domestic product (GDP) figures to reflect PPP.

With over 10 Billion USD being locked in DeFi Smart contracts has bolstered the development of public goods funding programs like GitCoin. Themis takes this further by bringing global accesiblity to blockchain based products and services.

More Documentation is available here 👉 https://github.com/anudit/themis

Challenges we ran into

Creating an Oracle