IEEE Std 2140.5:2020 pdf download.IEEE Standard for a Custodian Framework of Cryptocurrency.
IEEE Std 2140.5 defines a standard framework of a custodian service for cryptocurrency and digital assets. The framework includes a custodian reference technical architecture, business logic description, custodian service business models. digital asset evaluation criteria, operational procedure models, and regulatory requirement support models.
1.2 Purpose
There are no agreed frameworks for custodian services in token assets and cryptocurrency. This standard aims to provide a custodian framework with regulation. cryptocurrcncy processing and management in custody, and a reference technical architecture to support the framework.
1.3 Word usage
The word shall indicates mandatory requirements strictly to be followed in order to conform to the standard and from which no deviation is permitted (shall equals is required to).
The word should indicates that among several possibilities one is recommended as particularly suitable, without mentioning or excluding others; or that a certain course of action is preferred but not necessarily required (should equals is recommended that).
The word may is used to indicate a course of action permissible within the limits of the standard (may equals is permitted to).
The word can is used for statements of possibility and capability, whether material, physical, or causal (can equals is able to).
2. Definitions, acronyms, and abbreviations
2.1 Definitions
For the purposes of this document, the following terms and detiniiions apply. I ne iLIi IaiicIards IJwhonarv
Online should be consulted for terms not defined in this clause.
hlockchain: A peer to peer distributed ledger based on a group of technologies for transactional applications which may maintain a continuously growing list of cryptographically secured data records hardened against tampering and revision.
NOTE I— Blockchains can help establish trust, accountability and transparency while streamlining business processes.
NOTE 2—Blockchains can be classified as three types (i.e., public, consortium, and private) based on the relationship of the participants and the way to provide services.
hlockchain aIlet: The digital representation of a wallet that allows users to manage cryptocurrency and token assets.
cry ptocurrency: Any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
digital asset: A digital asset is any text or media that is formatted into a binary source and includes the right to use it; digital files that do not include this right are not considered digital assets.
fungible token: In economics. ftmgibility is the property of a good or a commodity whose individual units are essentially interchangeable, and each of its parts is indistinguishable from another part. In cryptocurrency, cryptocurrencies are usually considered to be fungible assets, where one coin is equivalent to another.
hardware security module (HSM): A physical computing device that safeguards and manages digital keys for strong authentication and provides cryptoprocessing.
non-fungible token (NFT): In cryptocurrency, a non-fungible token is a special type of cryptographic token that represents something unique; non-fungible tokens are thus not interchangeable.
NOTE One example of non-fungibic tokens can be seen in the crypto trading card game Gods Unchained [B2].
token: In blockchain. especaially in public blockchains. “token” is used as a form of cryptocurrency or digital asset to perform decentralized finance business.
token asset: A blockchain based digital asset that is formatted in a token form. NOTE—Cryptocurrency in blockchain is one type of token asset.IEEE Std 2140.5 pdf download.