Date

04 Oct 2021

Attendees

Agenda

1) Use Case reminder

2) Where we are on our road map.

3) Open Action Items

4) JIRA Issues Review - https://jira.edmcouncil.org/projects/SEC/issues/SEC-7?filter=allopenissues

5) Todays content discussion.

SMIF OWL-UML

SKOS

RDF/S

6) For next week.

Proceedings:

Today we discussed issues related to FBC-283, namely to sort out the identifier hierarchy. We have some issues related to the class hierarchy and how it works as well as some of the fundamental concepts to which an identifier applies. The notion of a government issued license is one that is buried in FBC, and although there is a restriction that belongs in FBC, the notion of a government-issued license is sufficiently fundamental that it should be in FND. Certain licenses, such as drivers' licenses, are issued by the regional (state) government, at least in the U.S., whereas others are issued nationally or locally. Business licenses are also issued by regional governments in the U.S., typically at the local level, whereas incorporation, aside from self-proprietorships, are accomplished at the state level.

In addition to FBC-283, we added two issues today, namely FND-350, which is to clean up the definition of legal document, and FBC-290, to revise the definition of regulatory agency to remove 'autonomous' from the definition.

One thing that our model does not reflect is the notion of a self-sovereign identity. We should add this concept and self-sovereign identifier to our model - see https://trustoverip.org/toip-model/ for more details.

Also related to this, we are missing the concept of digital identity - see https://nvlpubs.nist.gov/nistpubs/SpecialPublications/NIST.SP.800-63-3.pdf for a relatively complete definition and discussion of the topic.

Also, in our bonds ontology, we are missing the concept of Treasury Inflation-Protected Securities (TIPS). We have inflation bond and government issued security, but we have not tied them together to represent this specific kind of offering, which is quite common and was mentioned in business news today as increasing in popularity due to investor expectations that inflation will go up in the near term. See https://www.investopedia.com/terms/t/tips.asp for example for additional discussion.

Decisions:

Action items