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Demonstrate the use of computationally independent concept models, specifically ontologies and business process diagrams, in the management and model driven development of Smart Contracts and comparable Blockchain / DLT applications.
Please see these Dec 2018 Slides for details of the Proof of Concept, along with a general update on the works carried out by the FDTF DLT WG.
This builds on work carried out by the earlier Finance Domain Task Force (FDTF) DLT Working Group. PLease see http://www.omgwiki.org/OMG-FDTF/doku.php?id=blockchain-wg-page for details.
The previous activities got to the point where we have a formal ontology (based on and extending FIBO) for Interest Rate Swaps, along with a process model, expressed both as a draft process ontology and in UML Activity Diagramm format, for the basic concepts (contractual terms etc.) and processes involved in the lifecycle of an IR Swap derivative instrument.
The next step is to do one or more (ideally more) implementations that would demonstrate the expression of these same conceptual models in different physical implementation architectures.