EIP 2020, E-money Standard Token by Fernando Paris, Daniel Lehrner (Devcon5)

Fri, Oct 2, 2020, 12:00 AM

Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on IPFS and more. https://archive.devcon.org/archive/watch/5/eip-2020-e-money-token-standard-a-standard-for-financial-payments-and-operations-for-tokenized-money The EM Token builds on Ethereum standards currently in use such as ERC20, but it extends them to provide few key additional pieces of functionality, needed in the regulated financial world: Compliance: EM Tokens implement a set of methods to check in advance whether user-initiated transactions can be done from a compliance point of view. Implementations must `require` that these methods return a positive answer before executing the transaction Clearing: In addition to the standard ERC20 `transfer` method, EM Token provides a way to submit transfers that need to be cleared by the token issuing authority offchain. These transfers are then executed in two steps: 1. transfers are ordered 1. after clearing them, transfers are executed or rejected by the operator of the token contract Holds: token balances can be put on hold, which will make the held amount unavailable for further use until the hold is resolved (i.e. either executed or released). Funding requests: users can request for a wallet to be funded by calling the smart contract and attaching a debit instruction string. Payouts: users can request payouts by calling the smart contract and attaching a payment instruction string. https://emoneytokenstandard.org/ Speaker(s): Daniel Lehrner, Fernando Paris Skill level: Intermediate Track: Standards Keywords: technical Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum Learn more about devcon: https://www.devcon.org/ Learn more about ethereum: https://ethereum.org/ Devcon is the Ethereum conference for developers, researchers, thinkers, and makers. Devcon 5 was held in Osaka, Japan on Oct 8 - 11, 2019. Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/