Metadata Dictionary

[IMPACT]

Audience

• Cardano users that would like to integrate the blockchain into their business environment as an accounting software

Project Scope

• Identify the most common smart contracts for B2B interactions and their respective metadata parameters
• Adapt existing accounting systems to be served on the blockchain.
• Write up a best practices, standards, and methods.
• UI displaying the transaction history of a DAO detailed using this metadata standard.
• Propose a metadata structure detailing:
• Assets (More detailed CIP-25 to include physical assets such as real estate)
• Transactional receipts for "value-added"
• Work Orders
• Bounties
• Payroll
• Organization
• Legally Registered DAO
• LLC
• S-Corp
• Non-profit
• Unregistered DAO
• Project
• Team
• Pilot this system on DAOs in Miami operating on the MintMatrix.io platform.

Impact

• Create an operating standard for transparent B2B interactions
• Enhance traceability of actions throughout the blockchain.
• Create an automated accounting system

Open standards adoption should increase among cardano projects. On the long term, all of the community-funded projects should be open and transparent by following common standards.

Metric: There should be observable improvements: easier to discover projects and find project resources, more intuitive to access project knowledge base (documentation, how-to, etc.), and simple to find and contact project members.

A simple github page or gitbook detailing the metadata

Metric: "It should be possible to have project synergies by allowing simple inter-project communication, knowledge sharing, and re-use of existing components/services."

Allows anyone to launch a DAO on common grounds and furthermore financially interact using a common interface.

Metric: "We should observe an increase in open-source contributions to different projects: both from new joiners and from other people already in the Cardano community"

This operational standard will enable an accounting system which will further enable tracking of value-added and key contributions into the projects via transactions stamped identifying metadata structures. Impact can be directly measured by querying a project/organization's policy ID and then further querying the identifiers within this standard.

Metric: We should observe an increase in reputability of the Cardano Open Source projects. The measure can be done by looking at media communications of various open source communities.

This enhanced view into the allocation of a project/organization's funds will benefit transparency and as a result increase the reputation of projects on the Cardano ecosystem. As initial token/DAO offerings become more popular, we can hope projects adopt this framework to show funds being properly used to add value and deliver on promises.

Biggest Challenges

• Interoperability between a wide range of international tax laws and codes.
• Finding consensus on this proposed framework

Many perspectives will be considered and in the end, community discourse and cost-benefit analysis will weigh into a mature operating standard.

[FEASIBILITY]

1. Consult with market to identify business data that could benefit being stored on a blockchain
2. Identify possible frameworks to help categorize asset classes, organization types, and transaction types. (tax codes, accounting systems, etc.
3. Develop an outline for the metadata registry
4. Develop a division of labor
5. Present a mature draft to the community for comments and feedback
6. Iterate over feedback to reach consensus
7. Submit final revision as a CIP (Cardano improvement proposal)

64,750 ADA (35% of Total Requested)

Market Research:

• Consult accountants and legal professionals
• Survey business owners
• Survey smart contracts developers

120,250 ADA (35% of Total Requested)

Operating Standard Development:

• Deliver basic set of standardized contracts for most common B2B interactions
• Deliver metadata outline

• Business consultants (3)
• Business owners (3)
• (Independent of survey which will include min: 100 businesses)
• Accountants (1)
• Lawyer (1)
• Financial engineer (1)

[AUDITABILITY]

• Post survey data
• Post at least 100 transactions using this metadata standard
• Have at least 5 unique users contribute to the metadata repo
• Reach consensus on at least the following metadata identifiers:
• Organization
• Legally Registered
• Unregistered
• Labor
• Payroll
• Bounty
• Work Order
• Invoice
• Asset
• Real Estate
• Document

• Community adoption of this standard
• Community participation in developing this standard

Not funded, but completed the project anyway:

https://cardano.ideascale.com/c/idea/367331

SDG Rating

SDG goals:

Goal 1. End poverty in all its forms everywhere

Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Goal 9. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

Goal 10. Reduce inequality within and among countries

Goal 11. Make cities and human settlements inclusive, safe, resilient and sustainable

Goal 12. Ensure sustainable consumption and production patterns

Goal 16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

SDG subgoals:

1.4 By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance

1.a Ensure significant mobilization of resources from a variety of sources, including through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programmes and policies to end poverty in all its dimensions

1.b Create sound policy frameworks at the national, regional and international levels, based on pro-poor and gender-sensitive development strategies, to support accelerated investment in poverty eradication actions

10.5 Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulations

12.6 Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle

16.10 Ensure public access to information and protect fundamental freedoms, in accordance with national legislation and international agreements

16.4 By 2030, significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organized crime

16.5 Substantially reduce corruption and bribery in all their forms

16.6 Develop effective, accountable and transparent institutions at all levels

16.7 Ensure responsive, inclusive, participatory and representative decision-making at all levels

8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

#proposertoolsdg