06/12/2025
In the period 2024–2035, digitizing data related to assets, rights and cash flows in a verifiable, automated and risk-controlled way is considered the direction that many organizations in the world are researching. However, not all models of “putting asset data on a distributed ledger infrastructure” are up to standard. A sustainable platform needs three pillars: verifiable transparency, operational automation and legal compliance.
5-layer overall architecture
A complete system is typically organized into five layers: identification & compliance; asset data registration & authentication; representation & contract logic layer; financial data & audit layer; and transaction services layer – regulated market operations. The layered structure helps segregate responsibilities, control risks and pave the way for independent audits.
This foundational layer ensures that all activities are linked to verified identities and are subject to appropriate controls. The eKYC system uses document recognition, live matching, MRZ scanning; profile-based risk scoring; and, where appropriate, territorial access restrictions. A legal ledger stores organized records of contracts, deeds, and agreements for review and audit purposes.
Technically, cryptographic keys are managed by a KMS service; identities can be tied to credentials on a distributed ledger infrastructure in the form of non-transferable certificates; and a “compliance engine” simulates internal control processes like those in a financial institution.
The objective is to ensure that the data accurately reflects the assessed reality. Legal documents, ownership, licenses/contracts, IFRS valuation data and cash flow history are stored in an access-controlled database.
Metadata can be hashed and timestamped to prove integrity; connected to real-world systems (POS, ERP, DMS, manufacturing systems, banking transactions) via oracles to update data. For example, real estate has certification records and contracts; F&B has POS revenue; receivables have invoices and contract addendums. The “centralized database + immutable proof” approach helps to both comply with data governance requirements and create an audit trail.
This is where the operating rules are encoded into executable logic. When deploying on public networks, it is possible to refer to widely used community protocol standards (e.g. the ERC family in the smart contract ecosystem) to ensure compatibility.
Depending on the scenario, the system designs asset representation contracts, cash flow allocation contracts according to agreements, maturity contracts, pledge/collateral contracts, and transaction limit control mechanisms.
Financial and audit data layer
For verifiable transparency, the system requires a continuous stream of data from POS, bank statements, payment receipts, manufacturing operations, or other legitimate revenue sources. The FinLedger layer maps data to commonly referenced international accounting standards such as IFRS 9/10/13/15/16, to support classification, recognition, measurement, and consolidation as needed.
Analytical models detect anomalies, compare forecasts to actuals, and flag risks to help management teams be proactive. At key milestones, the system can create “financial proof” by hashing events and marking them on a distributed ledger infrastructure for independent reconciliation.
This layer is the interface that provides functionality to regulated, qualified users. Rather than focusing on “buy/sell,” the focus is on country-specific policy-based access management, risk-profile product classification, cash flow dashboards, contractual payment schedules, and other operational tools. The matching mechanism can be an order book or a liquidity creation formula depending on asset characteristics and regulatory requirements. All functionality is enabled on a “compliance first, functionality later” basis.
A serious platform must view security as a continuous process. At the account layer: multi-factor authentication, passkeys, anti-fraud, and fraud alerts. At the data layer: encryption at rest and in transit, segregation of personally identifiable data, and zero-trust models. At the infrastructure layer: hardened cloud environments, application firewalls, intrusion detection/prevention systems, and denial-of-service protection. At the contract layer: formal testing, real-time monitoring. At the cash flow layer: bank reconciliation, condition blocking, and automated risk flagging.
AI supports reference model asset valuation, credit risk and fraud scoring, cash flow anomaly analysis, review of unusual terms in legal documents and suggest operational portfolio allocation for the organization. All AI-generated results are only reference inputs for humans, always accompanied by confidence thresholds, explanation logs and censorship mechanisms.
The technical architecture for an international standard RWA platform does not stop at “putting data on the chain”, but rather designs a transparent – automated – compliant system, with comprehensive risk control: from identification, data authentication, contract logic, financial data, to market operations and security. HVA aims to realize this architecture carefully and step by step, on the principles of: compliance with laws, accounting and auditing standards, strict risk management, and prioritizing user safety.
This series of articles is for sharing knowledge and information, not for investment recommendations or financial product offerings, not for legal analysis or predictions, but focuses on sharing about technology, economics, and investment. The contents referring to regulations, if any, will be written based on existing legal principles, the parts without detailed regulations will be explained and mentioned based on experience in countries that have implemented them in practice. Readers need to proactively read and understand the current policies and legal framework of Vietnam through official documents; at the same time, need to comply with the current legal framework and only operate when specifically licensed, cautiously and responsibly towards the State, community, and society.
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