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Bridging Real-World Assets to Physical NFTs
OBADA defines open, standard methods to connect real-world assets to their “digital twin” counterparts: physical NFTs.
An open cryptographic formula essentially turns serial numbers into "blockchain addresses".
Asset data is stored in a decentralized registry which acts as a bridge between the real-world assets and on-chain NFTs.
Any layer-1 physical NFT can "talk" it's real-world counterpart via the bridge.
Built for Recycling, by an Industry Coalition
- Founded in 2017, OBADA is a coalition of over 100 organizations that provided asset disposition services for end-of-life electroncs. The goal is to provide cryptographic PROOF when device data is destroyed and when devices are properly recyled.
OBADA is for
The Asset Disposition Sector
To digitally transform our industry via blockchain proofs and efficiences.
Interoperable Physical NFTs are (the missing) composable infrastructure component needed by supply-chain blockchains and enterprise DLT systems.
Representing serialized assets as composable NFTs enables traceability from manufacturer to recycler, across any combination of previously siloed systems.
The Economy and the Planet
Sensitive data must be destroyed to prevent data breaches. Toxic materials must be disposed of properly. Lithium, cobalt, and rare-earth elements must be recovered. Traceability in recycling is the answer.
The “industry” side is governed by a traditional, off-chain, nonprofit foundation. The “blockchain” side is run by a DAO, also with off-chain goverance (for now).
The OBADA Standard
- The OBADA Foundation is steward of the OBADA standard. We have been working with ISO since 2019 to develop it as an international standard.
- The standard consists of an open data methods for representing an immutible physical asset identifier as a cryptographic addrsses, a data method for creating a cryptographic checksum of all associated asset data, and an open protocol for transferring and resolving the data.
The OBADA Platform
- The OBADA DAO was formed to create a platform, a Physical NFT Registry, that implements the standard. The platform is based on open W3C DID (decentralized identifier) methods. We previously worked on proof of concepts based on Hyperledger and Ethereum. Current development is based on Cosmos, using the Tendermint consensus algorithm.
Platform Economics: Rewards for Recycling
- Gas for basic transactions is paid with a native utility token, to compensate the nodeholders.
- The same utility token is used to “order traceability”. The mechanism is by “staking” the NFT. The stake, plus a reward, is returned upon proof of recycling.
- There is expected to be a high loss rate of staked tokens, due to the nature of recycling, as the real-world assets are lost from the chain. These tokens will be replaced by the newly issued tokens that are created with proof of recycling.
- This unique cryptoeconomic mechanism, where the total token supply is not maintained by cryptographic methods, but rather by the real-world actions, creates a world-changing incentive structure for proper recycling.
- There is no offer for investment here. OBADA is not an investment.
- At this time there are no plans to offer the native utility token to the general public or on any public token exchange.
- At this time, OBADA is a permissioned industry-led project targetted at the asset disposition sector.
- At this time, only accredited or corporate investors in the asset disposition sectors may join the waitlist for DAO membership.