UPRETS RESEARCH | Insights of Digital Asset Curation and Its Implications
UPRETS RESEARCH | Insights of Digital Asset Curation and Its Implications
As illustrated in Smithsonian Institution Archives, “Digital curation is the selection, preservation, maintenance, collection and archiving of digital assets throughout its lifecycle.”
The active management of research data reduces threats to their long-term research value and mitigates the risk of digital obsolescence. Meanwhile, curated data in trusted digital repositories may be shared among the wider world research community. As well as reducing duplication of effort in research data creation, curation enhances the long-term value of existing data by making it available for further high-quality research and economic practices.
Digital curation and data preservation are ongoing processes, requiring considerable thought and the investment of adequate time and resources. You must be aware of, and undertake, actions to promote curation and preservation throughout the data lifecycle.
The Digital Curation Lifecycle
The digital curation lifecycle comprises the following steps:
Conceptualise: conceive and plan the creation of digital objects, including data capture methods and storage options.
Create: produce digital objects and assign administrative, descriptive, structural and technical archival metadata.
Access and Use: ensure that designated users can easily access digital objects on a day-to-day basis. Some digital objects may be publicly available, whilst others may be password protected.
Appraise and Select: evaluate digital objects and select those requiring long-term curation and preservation. Adhere to documented guidance, policies and legal requirements.
Dispose: rid systems of digital objects not selected for long-term curation and preservation. Documented guidance, policies and legal requirements may require the secure destruction of these objects.
Ingest: transfer digital objects to an archive, trusted digital repository, data centre or similar, again adhering to documented guidance, policies and legal requirements.
Preservation Action: undertake actions to ensure the long-term preservation and retention of the authoritative nature of digital objects.
Reappraise: return digital objects that fail validation procedures for further appraisal and reselection.
Store: keep the data in a secure manner as outlined by relevant standards.
Access and Reuse: ensure that data are accessible to designated users for first time use and reuse. Some material may be publicly available, whilst other data may be password protected.
Transform: create new digital objects from the original, for example, by migration into a different form.
Within the Realm of the Digital Finance,
The concept of balancing the efficiency and equality has never failed to motivating us to build a more wholesome digital world.
In the book <Between Regulation and Freedom>, the editors Andrea Caracausi and Matthew Davies talked about the dilemma between the Degree of Freedom and the Degree of Regulation, and it is the new technologies, for instance, blockchain, distributed storage, online fundraising, cross-border transaction, that keep pushing this positive feedback to achieve a more acceptable balance.
Insurance, P2P, Trust and Guarantees have been served as the future solutions to this dilemma, but none of them succeeded. In this sense, both entities, like products and service, and technology-finance collaborative resolutions must be regulated within a relatively smaller scope.
Theoretical Background of Digital Curation and Freedom
The regulation landscape of digital markets can be easily explained in the following relative network.
Entrepreneurs and companies issue digital securities of either utility or digital assets to raise funds, while the brokers get the commissions through either direct or indirect channel sales. Along with other related parties, like the custodians, secondary market exchanges and trustees, they need to be regulated by the authorities to make sure our goals that bad actors that’re playing with tricks are precautioned and illegal acts that’re hampering the growth of the nascent market are prohibited.
To further introduce the topic of preparing a workforce for digital curation, some attributes of how, by whom, and where that work is conducted merit comment. An essential attribute of the work of digital curation is that it is accomplished along a continuum. It does not consist of a discrete profession labeled “digital curator” with a defined set of tasks undertaken in a dedicated setting. Rather, it is more usefully conceived as a series of activities undertaken by a range of personnel in a great variety of settings. This heterogeneity has major implications for measuring the work of digital curation, estimating demand for its workforce, and determining how best to train that workforce.
The continuum of professional positions including some responsibility for digital curation is very long. At one end of that continuum are specialists whose jobs consist exclusively or primarily of curation. They are designated personnel with specific expertise and training in the field of digital curation. At the opposite end of the continuum are jobs that may include curatorial tasks from time to time. Digital curation may be an essential but not predominant part of these jobs. The curatorial activities included in these jobs may be deemed a chore, even a distraction from the primary work to be accomplished; they may not even be recognized as curation.
Importantly, the two ends of that continuum are connected. Most digital information derives its meaning, value, and utility in relation to the domains, problems, or processes to which it is applied. Therefore, professional curators cannot make sound decisions, provide services, or add value to digital information without some knowledge of those domains, problems, or processes. In scientific fields, for example, digital curators need familiarity with the terminology, methods, common data types and formats, standards of acceptance, and norms of a specific scientific community. In commercial environments, digital curators need knowledge of the competitive environment, regulatory framework, and nomenclature of a particular line of business. At the other end of the continuum, professionals such as research scientists or marketing analysts who are engaged in work that is seen as far from curatorial must nonetheless be proficient in curation. Without the knowledge and skills to conduct sound curatorial practices, such as recording metadata or maintaining accessible formats or properly combining datasets, those professionals will fail at the rest of their work.
The organizational and institutional settings in which digital curation is accomplished also vary along a large spectrum. Some of these, such as formal data centers and repositories or government statistical agencies, may be explicitly dedicated to the curation of digital information. They may pursue curation as an end in itself. In other settings, the curation of digital information may be but one component of a very broad set of activities, in which curation serves but does not define the goal. There is variation all along the spectrum. In some organizational settings, the work of curation will be concentrated among specific personnel; in others it will be dispersed. Some settings will take responsibility for digital information from the moment it is collected or created, whereas others will begin to manage it only after the original producer has assigned metadata, or after the original user no longer has a need for it.
History and Implications of US Roaring History
Since 2018, the blockchain or more widely, what we called the technology-finance collaborative resolutions, has brought lots of traditional entrepreneurs with their old money into the similar but entirely brand-new industry.
In the above chart, we have basically summarized the most stunning highlights of the US roaring history.
When there’s no laws governing the security trades, to secondary trading and exchange self-regulated by brokers, curation has not significantly regulated the market with certain articles of laws. However, later when media, PR, and other rating companies joined this industry chain, and later market makers are invited by exchanges, further shapes this market and specifically the price to be flat, stable with high fluidity.
After we’ve known the rough picture of roaring twenties, we can see some paralleling between roaring twenties and present-day digital world. Although we have made a clear breakthrough from centralization to decentralization, from network radio technology to blockchain, the major pattern and logic are pretty much the same, especially that both are unregulated in terms of primary issues and secondary trading. Blockchain has bred the Secondary market trading, Public issue of securities; Private offerings of securities; Margin trading and Investment trusts, which extremely highlights the significance of digital curation. Possible resolutions could be issuing certain article of laws, like the US security Regulatory Acts I would address later, self-regulation from inviting third-parties like Media, PR and rating firms into this market to help joint-regulate the system and now we all know Sandbox, the security mechanism for separating running programs, in an effort to mitigate system failures or software vulnerabilities from spreading.
US Security Regulatory Acts
In the US, there are specifically four major security regulatory Acts under the section 5 of the Securities Act of 1933 to allow issuers to avoid costly and lengthy process of SEC registration. The JOBS Act of 2012 created and revised various methods for small and emerging companies to raise capital. Regulation A (Reg A), just one of several exemptions’ companies can take from registering their securities with the SEC, was completely overhauled. The updated Reg A, sometimes called “Reg A+,” was split into two tiers and allowed for significantly higher raises (up to $20 million with Tier 1 and up to $50 million with Tier 2) and more flexibility around how and to whom securities can be marketed.
Reg A falls into a middle ground between private capital raise options like Regulation D, and public options like an IPO, but presents its own unique benefits to issuers. Two major benefits to Reg D over Reg A are the ability to raise capital without a maximum limitation and the eligibility of SEC-registered companies to participate in the exemption. Reg A is limited to U.S. and Canadian companies that have not previously registered with the SEC. Although, that may be changing soon.
But the primary difference between Regulation A and private offerings under Regulation D is the eligibility of non-accredited investors. While 506 b does allow for up to 35 non-accredited investors in an offering, it is forbidden to market those securities online to potential investors. 506C, does not allow unaccredited investors, but can be marketed online via the “general solicitation” rule, bringing it more in line with Reg A. Regulation A is marketable to all investors, regardless of channel.
It is a common misconception that because Reg A is marketable to any and all investors, it is crowdfunding. However, there are some significant differences between Reg A and true crowdfunding under Regulation CF. Because of the lower capital raise limit, companies utilizing Reg CF tend to have lower valuations and be in earlier developmental phases. Reg A is for more established companies looking to use the capital for growth. Regulation CF also requires that the offering be listed on a registered funding portal. Acceptance into these portals can be highly competitive, with some accepting as few as 1% of applicants. No such requirements exist for Reg A offerings, though some portals do exist to help with listing and subscription, as does the option to list on national stock exchanges such as OTC, NASDAQ, and NYSE.
Though Reg A is an exemption from federal registration requirements like private capital raise exemptions Regulation D and CF, Reg A actually has more in common with a traditional IPO. Because it is open to all investors and because in some cases securities can even be resold or traded, Reg A offerings are considered public offerings.
A traditional IPO is designed for large companies with the capital needed to cover the legal and accounting costs associated with going public. Reg A opens up the door for smaller companies to do the same, including the ability to list Tier 2 offerings on securities exchanges like NASDAQ or NYSE or even OTC. For this reason, a Tier 2 offering is sometimes called a “Mini-IPO.”
Implications for Chinese Digital Curation Modes and Practices
Recently, in the Fourth Plenary Session of CCP, the central has issued the document that Promotion of Data should be elevated as one of the main Production Factors, together with labor, capital, land, knowledge, technologies and management. They’ve mentioned the finite freedom policy for the domestic and cross-border data storage and data curation. Although we are following the civil law legal standard, which means it takes time to optimize the articles of law, it is undeniable that the blockchain chain technology would be an inevitable element in achieving this governmental objective soon.
About UPRETS:
UPRETS is a platform focused on simplifying investment in real estate.
We are dedicated to providing a convenient, compliant and advanced real estate digital securitization platform for property developers, asset owners and investors globally.
By utilizing UPRETS platform, real estate developers and assets owners can create digital securities for their properties, allowing investors to benefit from the rental dividends and capital appreciation of the properties in major global cities.
Backed by a publicly listed real estate conglomerate (NYSE:XIN) and our award-winning, patented blockchain technology, Xbolt, we bring a network, experience and luxury assets to the platform.
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