2.6.4 Events Mirroring

OAE is the first solution that properly defines and structures events mirroring policy (i.e. replication of facts and legal status updates related to assets on blockchain layer) in a transparent manner.

OAE event mirroring is a policy is based on created so-called ‘event mirror’ - oracle that brings the factual, legal and insurance data related to the asset from outside word into AssetChain blockchain and OAE framework.

Creating an event mirror is always optional, however if skipped, the credibility rating of such OAES assets would be equal to 0 and red-flagged. For more details on why creating a proper event mirror is important please refer to the IAC framework and Asset Credibility sections.

Event mirrors can be created (or modified) as part of the asset onboarding or at any time after onboarding (under proper authorization to do so as per Structured Asset Administration policy).

Asset administrator works with the IAC partners when deploying event mirror, specifically

  • IAC partners need to sign off the procedure elements that will involve their actions, involvement and approval

  • Administrator needs to sign-off payments and/or secure budget for future payments for IAC partners involvement

From technical standpoints all event mirrors are deployed to Xend Connect, which handles the communication between AssetChain and external data environments, users do not need to set up their own data oracles to create event mirrors.

In Xend V2, the event mirroring process operates in a unidirectional manner, utilizing the IAC framework to facilitate the integration of off-chain data into the OAE, Asset Chain, and GOR systems. This setup primarily supports the importation and application of external data within the blockchain environment.

Indirectly, the system encourages administrators to keep replicating blockchain events reversibly within off-chain and factual realms. If changes on the AssetChain are not mirrored in the physical real-world (e.g. change of location) or in off-chain legal or factual status, subsequent event mirror updates will identify this mismatch, leading to a reduction in the asset's credibility score. Suspending the event mirror can't be used as an effective bypass of that mechanics due to progressive time-elapse based decrease of the credibility score, naturally pushing for periodical status updates.

Xend V3 will implement a bi-directional event mirroring capability. This enhancement will allow for blockchain operations to be automatically updated in the real world, eliminating the need for manual intervention by asset administrators. This advancement promises a more seamless and efficient synchronization between blockchain activities and their real-world counterparts, streamlining the management and updating process of digital assets.

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