Unified Golden Record

A golden record is the valid version of a data element (record) in a single source of truth system.  Sergey Nazarov explains the notion of a unified golden record in the video, The Unified Golden Record for Tokenized Assets. 

A unified golden record is an "on chain" golden record related to some financial asset which is cryptographically proven and guaranteed and any counterparty has access to. So, rather than having silos of information you have one unified golden record that is maintained and updated.

What seems to be going on is that what had been separated are now being connected. Data is becoming directly connected to value. In the past, separate systems that needed to be reconciled is becoming one connected system. This video, Rebuilding the World In a Blockchain Format, has more information.

This is no longer just a bunch of "crypto bros" talking about this sort of stuff.  See this presentation hosted by the U.S. Treasury Department, Digital Assets and the Treasury Market.  What is going on is that the future (Web3) and the past (TradFi) are being connected.


This is the environment in which modern accountancy will operate if forming.  Barriers between the past and the future are eroding and the necessary standards are being created.  XBRL International's Open Information Model (OIM), the Object Management Group's Standard Business Report Model (SBRM) and the Seattle Method are helping to break down these barriers, reducing system friction.

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