Hi FASE WG,
Unfortunately I wont be able to attend today’s meeting. However, I’ve left notes for @ChloeWhiteAus based on our discussions 2-weeks prior.
Our focus now is to 1) wrap up existing paper(s); 2) focus on standards creation; 3) submitting reports based on Block 15 sessions. Awaiting assistance on this. Will connect with @Mitchell to discuss.
Existing paper(s) include:
- Short papers addressing the industrial design questions
- Stablecoin paper
- Decentralized Compute and Market Structure
We identified two candidates to explore for standards:
- Smart Contract Audit Report Standard - Ideally in collaboration with @CyberSecurityWG_Comm. There are numerous standards regarding Cybersecurity Audits in Web3, in Web3 there are gaps. Our suggestion is to involve web3 cybersecurity organisations to create a standard for audits, what is checked, thresholds, expirations and more to ensure smart contract audits increase in quality and are prepared for AI threat(s)
- Cross-chain bridge risk disclosures - In-line with FASE, we believe it be valuable to research and understand the risks associated with Cross-chain bridges, where threat actors have attacked and in which ways can we both create standards around Cross-chain bridges. First and foremost, to focus on involving industry to create a disclosure document, so that users can clearly understand what happens with their assets when they use the bridge
Proposed methodology
- Map the gaps. Review existing standards against the risks and compliance needs that practitioners face, particularly at the business layer. A risk-manager’s matrix could help show what is already covered and what is missing.
- Test the need. Speak directly with banks, audit firms, bridge providers and other practitioners. A gap on paper may not be a problem in practice; their feedback should determine our priorities.
- Define a narrow scope. Establish what a proposed standard would cover, who would use it and which stakeholders need to help shape it. We should also distinguish a technical standard from guidance or regulatory policy.
- Develop collaboratively. Bring relevant FASE and other BGIN working groups into the work, alongside industry participants. We will need to understand the coordination required for any potential ISO submission rather than assume a direct path.
- Publish what we learn. The gap map and practitioner feedback can be useful outputs even if a candidate does not become a standard.