ASSET.OBYTE.APP

Asset Registration Policy

Effective January 21, 2019

Obyte Asset Registry (asset.obyte.app) manages an independent asset registry ("Registry") for the Obyte Network. This document is to help Obyte Hub operators ("Hubs") decide if the asset registration policies (the "Policies") described here meet their standards to broadcast asset names to connected wallets. Hubs should review the Policies from time to time and any modifications made thereto. Modifications to these Policies are effective as of the date and time they are posted on this site.

Registration

At least the following key data elements are recorded by the Registry in its own database:

• Issuer Name: the entity requesting the issuance and registration of the asset
• Short Asset Name: human readable name of the asset
• Ticker: a 5 letter ticker symbol of the asset
• Asset Hash: a Obyte assigned unique identifier of the asset

Verification

The Registry is open to anyone to issue and register any assets by any names. By default every issuer is unverified ("Unverified Issuers").

The Registry offers a procedure for issuers to validate their identity ("Verified Issuers"):

• Internet Aliases: if the issuer name represents a known internet alias, eg. Slack, Telegram or Twitter username, the issuer must contact at @ObyteProgrammer (Twitter) ("Contacts") personally for verification.
• Real Names: if the issuer registers the asset by their real name, they must connect their wallet with the Registry and use the real name attestation integrated into the platform or alternatively contact the Registry to prove their identity. Examples are passport scan for individuals, copy of certificate of incorporation for companies.
• Proof of Registration: the issuer has to prove that the asset issuance and registration have been made by them by sending a screenshot of the purchase history from the Obyte Wallet to one of the Contacts.
• Best Effort: the Registry uses its best effort to identify Verified Issuers.
• Verified Issuers are displayed with a green check mark on the website of the Registry.

The Registry never verifies the validity of the Short Asset Name and the Ticker. As a result they may be redundant across multiple issuers, eg. USD might be registered by multiple issuers such as Bank of America, Chase or Wells Fargo.

Uniqueness

The current Obyte Asset Metadata implementation defines a single data element to name assets (the "Obyte Asset Name"). Maintaining the uniqueness of the Obyte Asset Name is preferred in order to reduce confusion and potential scams.

The Registry ensures that Verified Issuer names are unique in its own database. If two issuers have the same name, the name is assigned on a first-come basis: the second issuer will have to distinguish their name from the first one eg. by assigning a sequence number or other verifiable property of the issuer eg. location.

Uniqueness of names registered by Unverified Issuers is not guaranteed.

To ensure uniqueness of the Obyte Asset Name, the Registry publishes names in the following format:

[Short Asset Name] by [name of the Verified Issuer]

Examples are: Bitcoin by Bittrex, US Dollars by Bank of America, Airmiles by Delta.

Publishing

The Registry publishes asset metadata to the Obyte DAG of Verified Issuers by posting a data unit authored by the Obyte address ("Verified Registry Address") as below:

AM6GTUKENBYA54FYDAKX2VLENFZIMXWG

Asset metadata of Unverified Issuers is never published by the Verified Registry Address.

The following metadata is posted to the Obyte DAG:

• asset: the Asset Hash
• decimals: the number of decimal digits
• name: the Obyte Asset Name
• shortName: the Short Asset Name
• issuer: the name of the Verified Issuer
• ticker: the Ticker
• description: the long description of the asset as registered in the Registry

After publishing the asset metadata in the DAG, it is permanent and immutable. Changes may be published in a separate Obyte unit, Hubs may propagate those changes to the user wallets.

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