4.3.6 DEC Commands

The Digital Economy Coin (DEC) is a unique cryptocurrency token that brings together various aspects of blockchain technology to offer a comprehensive transaction system. The DEC token's functionalities are offered through a group of commands that allow users to interact with the DEC transaction family effectively. These commands facilitate diverse operations, including token issuance, management of account entities, fund transfers, and creation of sub-tokens, amongst others. Grouped into five categories – Emission, Minting, Wallets, Banking, and Tokenization, these commands form the backbone of the DEC transaction system, providing a seamless and dynamic user experience. In the following sections, we delve deeper into the functionalities and intricacies of each of these command groups:

• Emission Commands: These commands pertain to the issuance and management of the DEC token supply. They allow users to initiate token issuance and to retrieve information about the current supply. Additional functionalities include the ability to burn (permanently remove) tokens and to adjust commission parameters.

• Minting Commands: This group of commands provides control over the distribution of tokens amongst network-supporting nodes. These nodes can receive tokens in exchange for Service Level Agreements (SLAs) via the Heartbeat protocol.

• Wallet Commands: These commands revolve around account management and related entities such as aliases. They facilitate operations like creating, updating, and deleting accounts or aliases, checking account balances, and viewing transaction history.

• Banking Commands: These commands manage the transfer of funds between user accounts. They support actions such as initiating fund transfers, setting up recurring payments, and conducting purchase and sale of registered digital objects.

• Tokenization Commands: These commands enable the creation of various types of sub-tokens. Users can define a sub-token's attributes and rules, initiate the creation of a new sub-token, or dissolve an existing sub-token.

Figure 65. Basic DEC Commands

4.3.6.1 Emission

This group of commands supports the issuance of tokens beyond the initial allocation, effectively controlling the circulating supply of DEC tokens. It also caters to one-time transactions, such as distributing tokens among participants, excluding the minting process. Furthermore, it ensures the proper distribution of tokens as specified in the genesis block, thereby maintaining the integrity of the token's lifecycle.

The emission process in DGT's DEC family revolves around the issuance of the platform's native token - DEC (Decentralized Economy Coin). While the DGT platform can function without the native token, employing DEC, especially for secondary token issuance, carries various benefits. The emission procedure is subject to a unique set of rules and parameters ensuring system integrity and stability.

#	Feature	Description
1	Emission Parameters	The emission is performed once through a command accepting a multitude of parameters such as the one-time DEC token amount, the native token name, distribution amounts, among others.
2	Parameter Registry and Modifiability	The parameters set during emission are recorded in the registry. Most can be partially overwritten later, except for primary indicators like the token amount issued, minting parameters, and native token characteristics.
3	Emission Process and Network Trust	These non-modifiable parameters represent the network's average value and serve as the network trust model's foundation.
4	Emission Execution	Emission is carried out by the consortium using a multi-signature based on a threshold scheme. The primary parameters are recorded in the ledger during the initial emission command execution.
5	Issue Verification and Token Information	The system provides commands to verify the issue and obtain token information. This allows any network member to verify the emission's compliance with the network's white paper.
6	Consortium Wallet Deductions	As part of the emission process, the deductions amount to the consortium wallet can be determined. This amount, usually minor (around 10%), can later be transferred to regular user accounts.
7	Blocked Balance	The balance remaining after deductions to the consortium wallet stays blocked in the network's pseudo-account, DEC_EMISSION_KEY, to be distributed later among nodes, arbitrators, and notaries via a special minting mechanism.
8	FUND Wallet Operations	The consortium wallet (FUND) is the only money source until the minting process begins. All operations involving the FUND wallet are executed using multi-signatures on the keys set during the emission.

The process of issuing DEC Tokens is a multi-step procedure that begins with a consortium planning for the emission. This planning phase involves defining the specifications for the emission and creating a white paper. The white paper outlines the objectives, rules for distribution, and security measures for the token issuance. This document is not only a blueprint for the consortium but also serves as a point of reference for the public. To ensure transparency and maintain public trust, the consortium also designs a governance and audit mechanism. This mechanism involves the creation of a group of auditors who are responsible for verifying and certifying all token-related operations. The consortium also designates specific members known as Token Issuers who directly handle the token issuance.

Once the planning phase is complete, the consortium checks the readiness of the DGT network for the emission and certifies the nodes and signatures of the Token Issuers. The Token Issuers then issue the tokens into a DEC_EMISSION_KEY, an operation that is audited by the auditors. The issued tokens are then transferred to a consortium account (_CORPORATE_ACCOUNT). The consortium oversees the security of this account to prevent unauthorized access and transactions.

To distribute the tokens to users, secondary accounts are created, and the consortium oversees the enforcement of security measures for these accounts. The corporate account then distributes the tokens to these user wallets as per the distribution rules outlined in the white paper. Each of these distributions is audited by the auditors to maintain transparency and accuracy.

Simultaneously, nodes in the network may trigger a minting mechanism to acquire tokens in exchange for Service Level Agreements (SLAs). The consortium tracks and enforces these SLA agreements. The tokens can then be used by users for transfers and payments, all of which are auditable and subject to the rules defined in the white paper.

Figure 66. Emission Sequence Diagram

4.3.6.2 Banking

In the rapidly evolving world of decentralized finance, DEC presents a sophisticated yet user-friendly suite of blockchain-based banking commands. These commands, pivotal to the functionality of the DEC platform, provide a comprehensive toolset for managing accounts in a dynamic and decentralized environment. They are the bedrock upon which various financial operations are executed, offering immense flexibility to users.

The Banking command group is designed to facilitate fundamental financial transactions within the DGT platform. It supports token transfers between accounts, provides transaction receipts (status), and allows balance inquiry for individual or group accounts. This functionality is central to maintaining transparency and accountability within the network. Thanks to a group of Banking commands, DGT carries out processing in its classical sense. Processing, in the context of the financial world, refers to the series of automated actions and operations required to complete a financial transaction. At its core, every bank fundamentally operates as a processing institution. Each time a customer initiates a transaction – whether it's a simple funds transfer, a mortgage application, or a stock purchase – the bank performs a series of actions to complete this transaction. These actions involve verifying the transaction, updating ledgers, reconciling balances, and ensuring that the transaction complies with regulations.

#	Principle	Description	DGT Reflection
1	Standardization	Adhering to financial communication protocols like ISO 20022 to ensure smooth interbank communication.	DGT incorporates the requirements of ISO 20022 through a set of internal processes integrated into the development: - APIs: Integrated standardized APIs for smooth interfacing. - Message Format: Adopted ISO 20022's XML schema for consistent financial messages. - XSD Alignment: Ensured messages match ISO 20022's XSD structure for data integrity. - Updates: Continuous monitoring and integration of ISO 20022's periodic updates. - Training: Regular skill development sessions for staff on ISO 20022 nuances. - Collaboration: Engaging with financial institutions and regulators for best practices and insights.
2	Account Management Capabilities	Ability to create, manage, and oversee various account types with their unique properties.	DGT provides a sophisticated account management system that allows for creation, supervision, and various account operations.
3	Transaction Operations	Supporting operations like funds transfers, loan processing, asset management in a secure manner.	Supporting operations like funds transfers, loan processing, asset management in a secure manner.
4	Business Logic/Workflow Integration	Self-executing workflow instructions to automate regulatory and reconciliation processes.	DGT's architecture allows for seamless integration of transaction family processing/smart contracts execution, facilitating automated, transparent, and efficient processes.
5	Interoperability	Ability to communicate seamlessly with other financial systems and protocols, both traditional and blockchain-based.	DGT is designed with interoperability in mind, ensuring smooth communication with a range of financial platforms.
6	Security and Privacy	Guaranteeing the security of transaction data while upholding user privacy.	DGT uses advanced cryptographic techniques to ensure data integrity and privacy, establishing trust among its users.

These commands may go by different names—synonyms if you will—especially in contexts where alignment with standards such as ISO 20022 is paramount. These synonyms not only reflect the multifaceted nature of the commands but also underscore the platform's commitment to interoperability and global financial standards. At their core, the commands operate with accounts. These accounts are incredibly versatile. On one end of the spectrum, we have simple accounts. These come with certain restrictions and, in truly decentralized fashion, can sometimes be ephemeral or even non-existent until certain operations bring them into being. On the other end, we have intricate accounts laden with attributes and roles, catering to more complex financial needs and operations.

Outlined below is a top-level summary of these commands, encapsulated in a table for easy reference:

#	Command	Description	Comments	Synonyms (ISO 20022 Alignment)
1	account	Creation and management of accounts (wallets)	Various types and permissions available	createAccount, createLoanAccount
2	list	Display a list of objects of different types	Uses paging due to large lists	listAccounts, listTransactions
3	show	Shows the properties of the account, including its balance	Unlike the balanceof command, it shows all account properties that have	displayAccountDetails
4	balanceof	Displays the account balance without additional information	A short version of the command showing only the account balance	getAccountBalance
5	send	Basic operation of transferring money	Attributes extendable	creditTransfers
6	notary	Forms bundles of wallets and connects DIDs	Notary nodes involved	certifyAccount, validateAccount
7	opts	Forms the roles of the accounts	Role creation separate	assignAccountRole
8	hold	Freezes an amount on a wallet	Sequential holds allowed	setAccountHold
9	invoice	Issues an invoice to an account	Various parameters available	issueInvoice
10	target	Registers an object of a given type in the system	Basis for business application	registerEntity
11	pay	Buys an object	Involves RFQ process	PaymentInstruction
12	creditline	Connects a new account for lending funds	Requires borrower's signature	establishCreditLine
13	CreditNote	Forms a special account with two linked accounts	Uses multi-signature special sum reservation, working like voucher	issueCreditNote
14	deposit	Add funds to an account from external systems	May involve bridges to other networks	makeDeposit
15	withdraw	Remove funds from an account to external systems	May involve bridges to other networks	executeWithdrawal
16	transaction history	Retrieves transaction history for an account	Extension of the list command	retrieveTransactionHistory
17	close account	Marks an account as unavailable	Permanent action	terminateAccount

In this revised table, the "Synonyms (ISO 20022 Alignment)" column provides alternative command names that might better align with ISO 20022 terminologies and conventions. This provides a bridge between the existing DEC command set and a more standardized approach. Each command contains a significant number of checks and related messages, the technical implementation of which is presented below – see 4.3.8 DEC Processing