An idea of Smart Oracle has also been proposed by Ripple labs (codius). Its original whitepaper is available at https://github.com/codius/codius/wiki/Smart-Oracles:-A-Simple,-Powerful-Approach-to-Smart-Contracts. Smart Oracles are entities just like Oracles, but with the added capability of contract code execution. Smart Oracles proposed by Codius run using Google Native Client, which is a sandboxed environment for running untrusted x86 native code.
Smart Oracles
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