Solving ASR Issue
Solving Asset Status Replication (ASR) Issue
The main goal of the OAE (Onchain Asset Environment) is to tackle the ASR (Assets Status Replication) issue. This problem revolves around ensuring that the actual legal and physical states of assets and rights, when represented as blockchain constructs, are accurately mirrored in both the blockchain environment and the real world. Specifically, it aims to:
Ensure that any changes made to assets and tokenized rights within the blockchain are replicated in the real world, affecting both their legal and physical states.
Reflect any changes in the physical or legal status of these assets and tokenized rights, occurring in the real world, on the blockchain.
This ASR issue is significant because no existing blockchain product or technology has effectively addressed it. Most current solutions, such as smart contracts and tokens, are abstract and don't meet legal standards.
Additionally, many Real-World Asset (RWA) solutions only offer tokenized shares in entities, which results in indirect ownership rights under often uncertain and legally risky frameworks.
Others propose trust-based legal agreements that promise token representation of specific assets or rights, but these are not true solutions. They are risky workarounds that fail to bridge the gap between blockchain constructs and real-world legal standards.
OAE tackles the ASR issue through its ‘777’ strategy, comprising:
7 core principles
7 product pillars
7 unique features
Each component is detailed extensively in the table below.
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