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Standards for Digital Assets

This report examines how legal rights, financial semantics, identifiers, messages, token interfaces, identity, settlement and custody combine to support institutional digital assets. It classifies 255 artifacts across 14 system layers and eight build and operating phases, keeping legal authority, technical maturity, adoption and assurance distinct. The analysis connects standards including ICMA's Bond Data Taxonomy, the FINOS Common Domain Model, ACTUS, ISO 20022 and regulated-token frameworks across bonds, funds, private credit, equities, derivatives, collateral and tokenized money. Its central argument is that legal, economic, operational, and ledger and custody records must remain aligned through issuance, servicing, settlement, corrections and migration. A standards atlas, composition and assurance matrices, implementation checklists and a research agenda turn that analysis into a framework for selecting precise standards profiles, testing their connections and assigning responsibility for the gaps.

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From Sandbox to System: Georgia's Next Tokenization Phase

Georgia has identified credible uses for tokenized deposits, bonds, property records and programmable payments. The next phase should test the institutional architecture that makes one transaction legally effective, financially final and operationally recoverable.

12 min read

From Tokens to Working Markets

Drawing on Digital Assets Week London, held on 6 and 7 October 2026, this report examines how tokenized assets become usable in institutional transactions. It connects collateral eligibility and financing, custody responsibilities, digital money and settlement with the operating requirements of continuous markets. The analysis assesses interoperability, the cost of running conventional and digital infrastructure together, and the governance capabilities institutions need for production. Its central finding is that progress depends on complete, repeatable business processes and measurable funding and operational benefits. Conference remarks are paraphrased and distinguished from public announcements, pilots and future ambitions.

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Blockchain Access as Institutional Infrastructure

This report examines the infrastructure through which institutions observe blockchain state, submit transactions and participate in network operation. Covering nodes, remote procedure call (RPC) services, data and transaction routing, staking and controlled execution, it distinguishes network access, independent verification, custody and consensus responsibilities. It assesses sovereign operating models through the ability to verify, authorize, recover and switch suppliers, rather than server location alone. Reference architectures, a representative market comparison, illustrative cost models, stress scenarios and procurement tests connect technical choices with institutional accountability. Based on public sources retrieved on 30 September 2026, the analysis separates documented requirements, supplier-reported capabilities and IEI assessments; it does not present provider claims as independent assurance or propose universal requirements to operate nodes.

The Plumbing Is the Product

An analytical synthesis of four sessions at the European Blockchain Convention 2026 in Barcelona, drawn from the author's conference notes. The report examines liquidity and continuous price formation, interoperability and transaction authority, identifiers and the rights attached to tokenized equities, the coexistence of digital money instruments, and the trade-off between atomic settlement and netting. It also considers stablecoin transition policy, provider concentration, cryptographic change, jurisdictional strategy, humanitarian infrastructure and agent accountability. Its central finding is that tokenized markets depend on market participation, operating controls and shared standards as much as ledger technology. Statements are generally attributed to institutional roles, and quantitative claims are presented as reported rather than independently verified.

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Compute Capacity Finance

How computing capacity is bought, financed and protected against price changes. This report examines the contracts and financial tools connecting customers who need dependable computing services, providers funding equipment and facilities, and lenders relying on future payments. It distinguishes capacity reservations, price hedges and loans, then considers transfer rights, service-delivery protections, rental-price indices, financing structures and the risks that remain when customer contracts expire before debt is repaid. Drawing primarily on US contracts and financing arrangements, with selected international comparisons, it separates published products and disclosed transactions from IEI proposed designs and illustrative calculations. The report recommends developing clearly specified services, reliable delivery records and controlled transfers first, alongside trustworthy price references and modest hedging programmes, before introducing more complex options and guarantees.

Georgia's Next Digital-Money Opportunity: Tokenized Bank Deposits

A bank-led model could add programmability and atomic settlement without disintermediating Georgia's banking system. Tokenized commercial-bank deposits would not replace the lari, commercial banks or central-bank settlement: properly designed, the token remains a liability of a licensed bank and a claim held by its customer, represented on programmable infrastructure so money and assets can move together under predefined conditions. Georgia already has much of the foundation, from the National Bank's deposit-tokenization sandbox to open finance and instant payments. The next step is a common rulebook and a real multi-bank transaction.

10 min read

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The most important appointment in a tokenized fund launch is the transfer agent

Asset managers tend to begin tokenization projects with a technology question: which blockchain should we use? They may be starting in the wrong place. The decisive design choice is not where the token lives, but where ownership legally lives, who keeps that record, and who has the authority to correct it when the technology stops matching legal reality.

11 min read

Digital Assets Have Standards. What They Lack Is an Architecture.

Tokenization is usually described as a technology transition. For institutions it is a standards-integration problem: a bond, fund, derivative or collateral position is dependable only when its legal rights, economic terms, identifiers, messages, ledger controls, custody and settlement stay aligned through issuance, trading, servicing, default and exit. Drawing on the IEI report Standards for Digital Assets, this article argues the market has enough standards and lacks an architecture to compose them, sets out the four truths (legal, economic, operational, ledger) every instrument must keep aligned, and introduces the Digital Assets Standards Lab launching in September 2026.

32 min read