[nileshtrivedi]

By minimizing the role of the oracle, instead of relying on one entity, you can rely on the market. Anybody could be the oracle, they'd put their reputation/offer/price on sale and the stakeholders would select one as they wish.

You're still trusting the selected oracle to behave honestly, but they will be operating in a very competitive market which hopefully would lead to better behaviour. They might cheat once, but it would be trivial to switch to a better oracle next time.