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A new standard for ERC-3643 tokens has been established on the Ethereum network, aimed at enhancing the security and compliance of the tokenization process. This standard is founded on a framework that allows for user authentication while preserving anonymity.
The Ethereum community has embraced the ERC-3643 Ethereum Improvement Proposal (EIP), which introduces the first standard for the secure tokenization of real-world assets (RWA).
ERC-3643 serves as the standard for the tokenization of securities, RWAs, payment systems, and loyalty programs. It confirms a user’s eligibility for a token through a self-sovereign identity (SSI) framework, offering anonymous yet verifiable credentials.
The ratified standard was proposed in 2021 and aimed at creating institutional-grade security tokens for regulated exchanges (T-REX). The ERC-3643 standard is built upon:
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- ERC-20 standard.
- ERC-734/-735 standards to ensure that the necessary identity requirements and authentication by trusted claim issuing authorities are fulfilled.
This standard also incorporates mechanisms that impose global restrictions on the token itself, intended to guarantee a controlled and regulated flow of assets. Specifically, these restrictions pertain to:
- the daily volume of tokens;
- the maximum number of token holders.
The tokenization process presents opportunities to enhance the liquidity of certain assets, accelerate settlement, improve transaction transparency, and broaden access to various markets. These benefits of asset tokenization have garnered the interest of representatives from major financial firms.
The technology is currently being actively researched and implemented by prominent TradeFi entities such as JPMorgan, Goldman Sachs, Euroclear, and others, along with regulatory authorities from numerous countries, with Singapore being a notable leader. The nation is exploring the potential of the technology through Project Guardian. Analysts project that the market for tokenized assets could reach $5 trillion by 2030.
Сообщение Standard for Tokenized Real-World Assets Created on Ethereum появились сначала на CoinsPaid Media.
