Open Fabric for Trusted Global Trade
A system of transacting and relationships that is open, secure, data-minimizing and democratic!
An Open Ecosystem
for Global Communities!
The aim of the OPEN TRUST FABRIC alliance is to create an open and inclusive ecosystem of contributors who will demonstrate an innovative approach for both reporting the economy as an ecosystem of contracts and actually implementing it, connecting the legal, accounting and business functions into a united system, interfacing between these three worlds.
The Open Trust Fabric Alliance is an initiative sponsored by the European Commission, Directorate-General of Justice. Open Trust Fabric is managed and supported by Exrade, Trakti, World Commerce and Contracting (IACCM), InfoCamere, Macrocosm and CommonAccord, our team is working together to continue ground-breaking research on applying new methods to the measurement of economic value.
This Methodological Study is called “Modelling the EU Economy as an Ecosystem of Contracts”.
How OTF Works
To create a better framework for policy making and monitoring, data should be leveraged and current economic indicators enhanced with network and “contract” information that better models the modern economy and provides a way to test and assess the impact of policies.
Methodologies need to be updated and supplemented with new measures capable of real time mapping and monitoring of the relationships, networks, underlying structures and non-monetised transactions of the economy. The objective is to make measurable and visible the way intangible assets and data should be accounted for in a European ledger of value.
GDP is a mechanism used to measure the wealth of a country but does not factor in the network aspect of the current economy.
Policy and regulatory bodies find that the fragmentation and inaccessibility of data make it difficult to make policy decisions as they are unable to assess the impact of the decisions.
OTF Progress Reporting
Here you can find a brief status of our reseach and demonstration activities!
The coordination of the project from both the administrative and the technical perspectives, aiming towards achieving effective operation of the project as well as timely delivery of quality results.
Data Search, Curation and Analysis89%
The identification and engagement of data sources and data providers at regional, national and European data and international contract standards bodies
The definition and implementation of clear and rigorous methodologies for mapping the European economy as a contract ecosystem and classification of all data and initiatives
The proof of concept, demonstrating the capability to model the European economy as an ecosystem of contracts and the design, development and operation of the open Web Repository.
The literature analysis, the contract types and data sources analysed and used for use case testing will increase over time, and a higher level of participation from the stakeholders will be achieved through access to high quality information in the repository. Early stage reports and communication material will be diffused via qualified forum, scientific publications and journals and professional networks.
All the data-gathering process will be analysed and various supporting tools will be developed in order to capture early descriptors and driving the web-repository development, in accordance with our agile approach. The methodological toolkit will serve to offer rigorous and quality labelled information to be stored in the Open Trust Fabric Repository. We will iterate our research and development activities two times before finalising our models, infrastructure and tools. The final setup will serve to run the last use case study and to achieve the final validation of our model.
We are building a comprehensive, crowdsourced repository of active initiatives in Europe and beyond connected to contract modelling, transacting ecosystems and tools. If you have a standardisation initiative, company, project, initiative or other related activity, you can submit your information and be included.