ASAP: A Conceptual Model for Digital Asset Platforms

Victor Budau and Herve Tourpe

No 2024/019, IMF Working Papers from International Monetary Fund

Abstract: This working paper inaugurates the "Technology Fundamentals for Digital Finance" series, concentrating on the technical aspects of financial Digital Assets. The series aims to facilitate the use of a clear terminology in a nascent platform-oriented paradigm of financial infrastructures, by laying the groundwork for technical discussions on digital asset standards. The paper introduces a conceptual model named ASAP (Access, Service, Asset, Platform) for Digital Asset Platforms (DAP), leveraging insights from IT industry practices and experiments by central banks. The ASAP model is illustrated through examples and use cases of tokenized assets, to demonstrate the possible usage and merits of modeling Digital Asset Platforms with four layers. Just as the utilization of a seven-layer model (often refered to as TCP/IP) has been fundamental to the interoperability of the internet, it is anticipated that the four-layer ASAP model for Digital Asset Platforms will similarly promote cross-platform interoperability, including across various jurisdictions, paving the way for a more cohesive digital asset ecosystem.

Keywords: digital asset; platform; conceptual model; service; tokenization; tokenized asset; interoperability; technical standards; platform-enabled finance; fintech; CBDC; unbundling; open banking; Tokenized asset concept; Access layer; asset type mapping; asset layer; asset standard; asset ecosystem; asset platform; Blockchain and DLT; Central Bank digital currencies; Financial sector; Global (search for similar items in EconPapers)
Pages: 34
Date: 2024-02-02
New Economics Papers: this item is included in nep-ban, nep-fmk and nep-pay
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