Fusion/AXP Proof-of-Concept: Person and Vehicle Identity On-chain
Over the last few weeks, we have been hard at work building out the Fusion/AXP proof-of-concept (POC). We are excited to provide an update on our progress and a description of the frameworks we are implementing to make Fusion an extensible platform for solving real-world problems.
As with any POC, the overarching goal is to develop a bite-sized and practical workflow that enables us to quickly identify areas of improvement and iterate. As our concepts mature, we will layer in additional business logic and features. The first phase of the POC has three primary goals:
- Create Person asset
- Create Vehicle asset
- Create Loan asset
We chose a subset of person/vehicle/loan information as well as their associated metadata from AXP’s database to serve as our working data. Any sensitive information (such as real names) was replaced with dummy information.
Enhancing Asset Features with Attributes
The first step was to enhance Fusion’s asset creation library with a rich attribute framework that is able to store data of different types, size, and privacy settings. These attributes contain descriptive information that help us categorize assets, uniquely identify assets, and trigger business logic. Examples include vehicle make and model, consumer credit scores, birthdays, and loan numbers.
Fusion’s attribute framework is engineered with a two-layer system, on-chain and off-chain, which can be mixed and matched based on the application needs.
1. On-chain: We added functionality for users to create attribute name/value pairs, which are replicated on-chain. This array of attributes is analogous to the ERC-721 “metadata” library. Data in these name/value pairs are small and use pointers to external data solutions for storing large data.
2. Off-chain: We created an off-chain attribute gateway, which gives users fine-grain control over read/write abilities based on user-roles and allows applications to find assets based on attributes in a performant manner.
Creating Assets: Person and Vehicle
The next step was to create a digital asset representation of the Person and the Vehicle, configure the details of who can set metadata, refine user permissions and views, and determine when and how to set relationships between Person and Vehicle. Describing all the considerations is beyond the scope of this update, but we wanted to highlight some concepts around assets:
1. Person — Though it sounds inhumane to consider a person as an asset, a digital identity is just an asset ID with sensitive information, in the purest technical sense. We created private/public addresses that have dual function, serving as the unique identifier for the person as well as the user’s application login. In the future, we see applications generating user-specific addresses “behind the scenes” and linking to the user’s master wallet. This architecture provides a single sign-on experience while protecting sensitive transactions and information about the consumer. Asset rights can be managed through centralized approaches or decentralized solutions such as Fusion’s Distributed Control Rights Management (DCRM) technology.
2. Vehicle — Each vehicle asset is uniquely identified by its Vehicle Identification Number (VIN). All physical attributes, car history, transactions (rentals, loans insurance), government registrations, even telematics will all be linked to this vehicle asset.
What’s Next?
Our focus now turns to:
- Creating the loan asset that links the Vehicle to the Person
- Modelling the loan cashflows through time-locks and quantum swaps
- Continuing to build out the application UI to the standards of our UX designer, Matthew “🍌” Kast.
We look forward to our next update and hope you are too!
John Liu — Head of Product Strategy
