BlockchainCG online meeting at 2/June/2016

Recap of ISO20022 presentation from SWIFT

• PPT link : https://drive.google.com/file/d/0B7ecK_oVsnwOUTB5cEs1QVZrRlE/view?usp=sharing
• current scopes of ISO20022 standard are
  • Business / Conceptual Layer defines financial concepts (Top Layer)
  • Logical Layer defines data and behaviour (processing) required to realize a business process
  • Physical layer that is a technical implementation derived from logical layer
• opportunities with blockchain and ISO20022 are
  • re-use business / conceptual definications
  • define logical and physical layer
  • based on blockchain, data flow or behaviours are different from ISO20022 standard.
  • message format and/or storage is different when considering blockchain
• Image DLT Logical Layer
  • Data and behaviour (processing) required to realize a business process;
  • The roles played by parties involved in a transaction: who can see what and who can do what;
  • Data definitions re-used from ISO 20022 business/conceptual
  • Behaviour derived from ISO 20022 business process definitions
  • Work will be required to adapt ISO 20022 to the new paradigm
• Image DLT Physical Layer
  • ISO 20022 data structures represented physically on ledger
  • Data encapsulated according to Object Oriented principles
  • Behaviour implemented as Smart Contracts
  • Access rights enforced through Role Based Access Controls
  • Users authenticated by the platform
• ISO20022.org is important
  • referencing with payment business ( http://www.iso20022.org/payments_messages.page )
  • Message Definication Report (http://www.iso20022.org/documents/general/Bank_Account_Management_Maintenance2013.zip) provide Business/Logical/Physical definication
    • Schema definication is at http://www.iso20022.org/documents/messages/acmt/schemas/acmt.007.001.02.zip (for example)
• standardization approach by referencing ISO20022
  • choose use case
  • describe business / conceptual logic
  • define logical layer (data flow and behaviour) by considering blockchain
  • define message structure and storage
  • storage can be evaluated from various technologies

review UseCases

• Use Case from Joe : https://docs.google.com/document/d/1JiGV7IUt1PTZg3JvBp9Cr0V7RyosOB_w-z6mMh87ktk/edit#
  • focusing more on Enterprise Systems use case
• Use Case from Erik : https://github.com/w3c/blockchain/blob/master/use%20cases/blockchain_use_cases.md
  • will review more later

notes for blockchain standardization

• note from Joe : https://docs.google.com/document/d/1xtfK1C7JbOLx-YztqEDloKBRXWwtFBaLm9pcSwLygAg/edit#heading=h.ie9haz2a79hp

more participants

• consider moving concall time to 7am EST (current time is 6am EST / 10pm KST)
  • request comment on mailling list
• two important milestones
  • blockchain workshop : https://www.w3.org/2016/04/blockchain-workshop/
  • W3C TPAC 2016 : https://www.w3.org/2016/09/TPAC/
• keep continuing effort even with small active participants.