Re: [Blockchain-interop] Use Case proposal - Rafael Belchior

[Thomas Hardjono <[e-mail]>]

Thanks Rafael,


>> Use-Case: Blockchain Migration

Migrating entire blockchains/DLTs may be very relevant for private DLTs.  So having a gateway to perform the migration would be very useful.


>>> Use Case: Escrowed Sale of On-Chain Data for Fiat
>>> I can elaborate on this if the idea makes sense: gateways can enable
>>> on-chain data selling for fiat. A source gateway locks an asset
>>> (representing data), in exchange for fiat. The recipient gateway makes a
>>> payment to a payment network (e.g., Interledger, Visa) with
>>> cryptocurrencies or other accepted tokens. Upon transaction validation,
>>> the source gateway transfers the asset to the recipient gateway.

This is interesting in that the data (data-files) may be large, and could be placed off-chain. In this case the DLT (in the blocks of the ledger) will only be keeping a hash of the data-file.

This is very similar to digitized certificates of real-world assets (e.g. land-ownership deeds; warehouse receipts; etc).  The  digitized-certificates are placed off-chain in some kind of asset depository/repository (e.g. like the DTCC), but the ownerships (i.e. current ownership) is represented on a DLT.

The challenge is that the ownership-representation (entry in DLT) must be movable to a different DLT.  If say Alice us using DLT L1 sells the ownership to Bob on DLT L2, then Bob may insists that the new "home" of the ownership-representation is L2.  This is the role of the gateway-to-gateway protocol. (nb.  Moving the ownership-representation does not change the location of digitized-certificates at the asset depository).


best


-- thomas --




________________________________________
From: Blockchain-interop [[e-mail]] on behalf of Rafael Belchior [rafael.belchior=[e-mail]]
Sent: Thursday, November 12, 2020 9:03 AM
To: [e-mail]
Subject: [Blockchain-interop] Use Case proposal - Rafael Belchior

Dear All,
Regarding
https://www.ietf.org/archive/id/draft-sardon-blockchain-gateways-usecases-00.txt,
I have a use case related to the application and data portability use
case category.

Use-Case: Blockchain Migration

The suitability of an application running on a blockchain platform
depends on the underlying blockchain properties. As blockchain
technologies are maturing at a fast pace, its characteristics such as
performance, transaction fees, security, and privacy models change. The
fast-moving regulatory environment also contributes to the gap
product/market fit of a blockchain solution.

It is, therefore, desirable for an organization/consortium to be able to
replace the blockchain infrastructure supporting a particular service.
Dozens of migrations on public blockchains have been done, paving the
way for public-private blockchain migrations.

Currently, when a consortium wants to migrate the entire blockchain the
solution is to re-implement business logic using a different blockchain
platform, and arbitrary recreate the assets and data on the target
blockchain, yielding great effort and time, as well as losing blockchain
properties such as immutability, consistency, and transparency.

Gateway transfers can be leveraged to directly migrate assets from a
source to a target DLT, rendering user management flexibility,
transparency, and auditability to migrate blockchain-based solutions,
avoiding the aforementioned pitfalls.



Use Case: Escrowed Sale of On-Chain Data for Fiat
I can elaborate on this if the idea makes sense: gateways can enable
on-chain data selling for fiat. A source gateway locks an asset
(representing data), in exchange for fiat. The recipient gateway makes a
payment to a payment network (e.g., Interledger, Visa) with
cryptocurrencies or other accepted tokens. Upon transaction validation,
the source gateway transfers the asset to the recipient gateway.


Any thoughts?

Cheers,
--
Rafael Belchior
Ph.D. student in Computer Science and Engineering, Blockchain - Técnico
Lisboa
https://rafaelapb.github.io/
https://www.linkedin.com/in/rafaelpbelchior/

--
Blockchain-interop mailing list
[e-mail]
https://www.ietf.org/mailman/listinfo/blockchain-interop