I’ve heard of NIST, but I’m not intimate with what the language or specification is about. When you’re styling ISO as a control — this seems a bit foreign to the ISO format. The ISO-20022 definitions are used to describe the details of a financail transaction and the different parties.
For example: logging in to your bank the NIST 800-53 descibes the methods and processes for the system to funciton. They are common explantions for database operations. After you perform a transaction at your bank - ISO-20022 - is the messaging standardization that the financial industry is adopting so that all the necessary fields describing the details of that transaction are consistant in the industry.
Haha it’s literally not all for A&A, extremely confused how you could come to that conclusion reading the controls. Control families:
Access Control; Awareness and Training; Audit and Accountability; Assessment, Authorization and Monitoring; Configuration Management; Contingency Planning; Identification and Authentication; Incident Response; Maintenance; Media Protection; Physical and Environmental Protection; Planning; Program Management; Personnel Security; PII Processing and Transparency; Risk Assessment; System and Services Acquisition; System and Communications Protection; System and Information Integrity; Supply Chain Risk Management
How are the media protection, supply chain risk management, risk assessment, etc. controls A&A??
Beyond 800-53 being WAY MORE than A&A, what is 1 company in the US that uses ISO 20022 AND 800-53. Again, happy to analyze that information, I know of none.
The more I look into this too, the more irrelevant this seems for a blockchain. I don’t see why a blockchain would follow any specific standard like this. Lots of these seem like a waste of time (acmt.034.001.05). Anyways, best of luck if you went for this, I’d rather see effort put into actual apps and use cases, I don’t think this does anything for Cosmos.
You’re right it’s not - like I said, typical database management lingo.
Use common sense it’s self-explanatory.
This is why I say Tri-Fi operates at a higher level of professionalism. Higher standards for interoperability and coordination between siloed systems. I’m sure there will be decentralized ledgers that are not ISO-20022 compliant…please invest all your money in them and ride it out, you could be right.
I just saw an article in my TLDR Crypto newsletter that contridicts your opinion, but noone is tring to change your mind. The decentralized ledger AKA blockchain space is competative — if stable coins used in Cosoms are not compliant — it will defintly cripple any competative advantage Cosmos has.
Walmart and Amazon are reportedly exploring issuing their own dollar-backed stablecoins to cut transaction costs and speed up e-commerce and cross-border payments by diverting billions in banking fees onto onchain rails. These brand-specific tokens would capitalize on growing regulatory clarity under the GENIUS Act, which aims to standardize stablecoin collateralization and AML compliance. Their moves follow Shopify’s planned USDC integration and discussions among banks like JPMorgan and Bank of America about joint stablecoin launches, signaling a broader institutional embrace of regulated digital dollars.
Code and design docs are above. All pretty much done. $100,000 for years and years of Trillions of Dollars of processing and providing a solution to elevate the standard of quality for the Cosmos. I feel the love. Thanks for your vote.
It says these will be ISO compliant based on the AML compliance clause stated above – that is what the code and design docs are for, specificly for Cosmos. You have to infer what the text says, next time I charge for providing you even with the most minute information that gives you an edge in evaluatiing your options. It’s business.
I wouldn’t rely on a comment from a ripple exec from 2023 to inform my opinion on their platform in 2025. XRP is different from USDC or USDT though.
His quote exactly: 04/2023
“XRP has nothing to do with ISO 20022.”
ISO 20022 is a messaging standard for payments, XRP is a cryptocurrency. While there could certainly be projects using both of these things, there is no real inherent overlap between them.
Stellar, for example, has a built in DEX. There are several operations of a DEX that map to ISO-20022 definitions. I’m not as familiar with the XRP ecosystem…but it would behoove Stellar to have a similar compliance. If XRP or Stellar was IBC compatible, they could be compliant useing the same system proposed here on Cosmos.
The other part to this is — there is another party that collects all the KYC/AML information and performs the compliance side of things. That business operates in Tri-Fi industry. My proposal extends their database format to include crypto addresses that business and individuals will use to transact in the blockchain ecosystem.
This can only progress once all parties are ready to proceed. @ankurb I’m at my own personal limits to deliver, and all the code and design docs are for the relevant parties to evaluate for feasibility. If I could do me and everybody else — this would already be done and in production.