ASAP: A Conceptual Model for Digital Asset Platforms

February 2, 2024

Preview Citation

Format: Chicago

Victor Budau, and Herve Tourpe. ASAP: A Conceptual Model for Digital Asset Platforms, (USA: International Monetary Fund, 2024) accessed February 8, 2025

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

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.

Subject: Blockchain and DLT, Central Bank digital currencies, Economic sectors, Financial Sector, Financial services, Technology

Keywords: Access layer, Asset ecosystem, Asset layer, Asset platform, Asset standard, Asset type mapping, Blockchain and DLT, CBDC, Central Bank digital currencies, Conceptual model, Digital asset, Financial sector, Fintech, Global, Interoperability, Open banking, Platform, Platform-enabled finance, Service, Technical standards, Tokenization, Tokenized asset, Tokenized asset concept, Unbundling

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2024/019
Stock No:

WPIEA2024019
ISBN:

9798400266157
ISSN:

1018-5941

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