Christopher Allen

@ChristopherA

For me one of the most important things about the #Wyoming Legislative Blockchain Task Force has been their efforts to codify what the real requirements of what qualified custodianship of digital assets should be. Few are up to this standard. Worthy! https://drive.google.com/file/d/1U7gIrVwpWElz3C10bC92-33zAKQnS-8E/view https://twitter.com/CaitlinLong_/status/1194022779730968577

11/11/2019, 10:46:53 PM

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Christopher Allen

@ChristopherA

Section V is particularly interesting as it defines customer-centric views of what a fiduciary should do in case of various kinds of forks & airdrops. As far as I know this has never been defined before as traditional assets do not have this property (splits are not the same).

11/11/2019, 10:53:28 PM

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Christopher Allen

@ChristopherA

S8r1…“A bank shall provide the independent public accountant with all public data addresses used and shall sign the addresses. A hash of the most recent block of an agreed- upon blockchain at the time of signature shall be included in the signed message in order to serve as…

11/11/2019, 11:06:12 PM

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Christopher Allen

@ChristopherA

…a timestamp for when the signature was made. The signatures of those public addresses shall be verified by the accountant. The accountant shall use the blockchain to extract the total amount available at those addresses at a certain point in time”

11/11/2019, 11:06:36 PM

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Christopher Allen

@ChristopherA

S8riii: “A bank shall provide the digital asset balances of each customer to the accountant and generate a Merkle tree, or in the determination of the Commissioner, any substantially similar analogue.“

11/11/2019, 11:09:48 PM

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Christopher Allen

@ChristopherA

S9c: “A bank shall utilize at least three officers or employees to perform the process of creating entropy in the creation and production of the seed, with no single person ever possessing the entirety of the seed or backup mnemonic word phrase. When a single seed is…

11/11/2019, 11:11:33 PM

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Christopher Allen

@ChristopherA

…produced for a signatory, the signatory shall not be involved in the production of the public and private keys. None of the seed creators shall be permitted to participate in the act of cryptographically signing or have access to the systems that facilitate transaction.”

11/11/2019, 11:12:01 PM

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