Welcome to the Finternet API specs Documentation repository.
If you wish to learn more about the concept in detail, it is recommended to read the below BIS working paper and the companion technology architecture paper:
Or check out this Fireside Chat at the BIS Innovation Hub: Fireside Chat
The Finternet Sandbox is being modeled for the use cases and status as below:
| Use Case | Sandbox Status |
|---|---|
| Domestic money transfer | In progress |
| Pledge land and obtain commercial loan | Yet to start |
| Cross Border | Yet to start |
| More use cases will be updated here | Yet to start |
The specifications are being defined from the perspective of an “Application” which enables users with various use cases by connecting the following parties or entities:
- Application
- Higher order workflow layer
- Unified asset management platform
- Token/Asset manager
The application layer provides the user interface to the finternet. It enables users with various workflows that can be performed across asset classes
This layer facilitates the composability of Finternet ‘verbs’ by enabling new workflows that are made up of foundational asset management verbs. For example, a ‘trade’ operation could be composed of two ‘transfer’ operations.
The platform comprises the ledger layer and the programmability layer. This facilitates bookkeeping and workflow management of tokenized assets.
An institution that is responsible for the issuance (tokenisation, detokenisation), management and synchronisation of a token with their private ledger
There are many interactions a user can have with the ledger. Some of the capabilities include:
- Identity management
- Asset tokenization
- Anchoring and querying proofs
The ledger provides identity management by creating a decentralized identity (DID) and anchoring it on the ledger.
For example, this is how a token manager can create identity:
