Ethereum ERC3643 as the First Tokenization Standard
- jimm1
Key Points
References
| Reference_description_with_linked_URLs_______________________ | Notes______________________________________________________________ |
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| https://www.linkedin.com/posts/erc3643_ethereum-community- approves-erc3643-ugcPost-7141369501484281857-BrCC/?utm_source=share&utm_medium=member_desktop | ERC3643 as the First Tokenization Standard |
Key Concepts
ERC3643 as the First Tokenization Standard ( Compliant )
<<jim. takeaway
will be important and well supported.
Not as powerful in concept as SLT ( smart ledger technology ) with SGC ( smart governance contracts ) for any digital asset type or digital service
builds on key ideas from Tony McLaughlin in RLN, design strategies from Kaleido,
supports dynamic independently verifiable automated trust services & tokens ( TST )
>>
We're proud to announce that the ERC3643 standard has achieved 'Final' status in its Ethereum Improvement Proposal (EIP), a significant milestone granted by the Ethereum community.
🔷 ERC3643 sets a new precedent in tokenization, becoming the first-ever standard tailored for compliant tokenization to earn this approval from the Ethereum community.
🔷 Its recognition as an official standard also underscores the Ethereum community's dedication to supporting the diverse needs of its users and setting a benchmark for institutions to leverage this standard for their #tokenization initiatives.
🔷 ERC3643 joins the ranks of well-known protocols like ERC20 and ERC721, which underwent similar rigorous processes to be recognized by the Ethereum community.
🎉 This is an incredible milestone that wouldn’t have been possible without the tireless efforts of the association and its esteemed members.
It is a stepping stone for what’s to come next.
Read more here: https://lnkd.in/eHijNs-a
https://www.erc3643.org/news/ethereum-community-approves-erc3643-as-the-first-tokenization-standard
ERC3643 as the first-ever standard tailored for compliant tokenization to earn this approval from the Ethereum community.
Why ERC20 doesn't work for securities
ERC20 standard is widely utilized for crypto tokens, it is not suitable for securities activities due to its inherent limitations in enforcing on-chain compliance.
Why ERC3643 has a big impact
ERC3643 is the permissioned token standard for tokenization of securities, real-world assets (RWAs), payment systems and loyalty programs. It dynamically verifies users eligibility to a token via a self-sovereign identity (SSI) framework, ensuring compliance through anonymous but verifiable credentials. Furthermore, it empowers token issuers with continuous control over the tokens, thereby facilitating governance and consistent compliance with regulatory requirements.
<< it has 3 concepts: ownership, control, observability >>
Potential Value Opportunities
Potential Challenges
Candidate Solutions
Step-by-step guide for Example
sample code block