Object Management Group Issues Request for Proposal for Linked Encrypted Transaction Streams Specification
Standardizing, encrypting, and linking transactions for improved business workflows
BOSTON, Jan. 19, 2021 /PRNewswire-PRWeb/ -- Today, international technology standards organization Object Management Group® (OMG®) issued a request for proposals (RFP) to standardize Linked Encrypted Transaction Streams (LETS) that may be deployed in Distributed Ledger Technology (DLT), Blockchain, IPFS, distributed file systems and other Distributed Immutable Data Objects (DIDO) ecosystems, among other scenarios.
OMG is soliciting proposals to create a specification that will:
- Link methods for arranging transactions into ordered structures, or streams
- Establish methods for applying encryption and digital signing to transaction elements, transaction streams, or parts of transaction streams
- Develop methods to extend the semantics of relationships among message in linked transaction streams
Distributed ledger technology (DLT) systems, such as blockchains and directed acyclic graph (DAG) solutions, provide a means to post small discrete data structures to a data record structure that is propagated among participants in the DLT ecosystem. The precise state of each such piece of data cannot be changed after it has been posted, which provides a data structure that is both distributed and immutable.
"For many real-world applications including distributed 'smart contracts' and applications using cryptocurrency wallets, any piece of information posted to a DLT ledger must have some way to show how it is related to other data within the broader context of a business workflow," said Mike Bennett, Co-Chair of the OMG Blockchain Platform Special Interest Group and Standards Coordinator, IOTA Foundation. "We're looking for alternative solutions to the challenge of maintaining context for transactions, or messages, in distributed ledger technology (DLT) solutions.
"Proposals for this new specification should define support for linking and encrypting messages without the messages being dependent on any specific DLT protocol," continued Bennett. "Further, there may be a range of ways that the linkages among messages in streams can be maintained so that messages may not have to be submitted in the same sequence that they are connected. This includes message-oriented middleware (MOM) implementations, Data Distribution Service (DDS), ZeroMQ, and others."
This RFP seeks proposals to standardize solutions in which the linked, encrypted streams of messages can operate at a separate layer of abstraction from the underlying protocol. The exchange of these messages may be standardized, and the resulting messages will become potential payload for posting to a Blockchain, DAG, or other immutable and distributed data object, or data storage in a DLT system or other middleware implementations. Responses are sought that can be used across the full range of DLT ecosystems, including open-source applications as well as future emerging technologies.
The full request and details on how to respond can be found in the Linked Encrypted Transaction Streams(LETS) RFP. The deadline to submit a letter of intent, which any company can do regardless of OMG membership, is February 9, 2021, and the initial submission deadline is May 17, 2021. Companies must be members of OMG by the initial submission deadline to submit their proposal.
A public presentation on the new Linked Encrypted Transaction Streams (LETS) RFP will be held on January 27, 2021 at 11:00 AM ET.
About OMG
The Object Management Group® (OMG®) is an international, open membership, not-for-profit technology standards consortium with representation from government, industry, and academia. OMG Task Forces develop enterprise integration standards for a wide range of technologies and an even wider range of industries. OMG's modeling standards enable powerful visual design, execution and maintenance of software and other processes. Visit http://www.omg.org for more information.
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Media Contact
Karen Quatromoni, Object Management Group, 781-444-0404 x146, [email protected]
SOURCE Object Management Group
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