Mapping wallets to organizations and governance
XDEX features an advanced blockchain wallet management system, which enables an enterprise level of governance and controls. Additionally, when structured properly, it mitigates the risk of loss of blockchain-based cryptoassets due to passwords being lost or forgotten – a superior advancement over other blockchain frameworks.
For example, the following structure could be created to reflect the weighting and voting of an organization’s governance.
Imagine a company that has a Chief of Financial Officer (CFO) and some departments working for him, such as the Treasurer, Controller, Tax Manager, Accounting, etc.
The company also has a CEO and a COO who want to have spending or asset account privileges. Therefore, we construct an authority for the funds according to the following:
The CEO, COO, and CFO have their own authorities. But, the COO and CFO account could also have multiple depths, representing a cascading hierarchy of organizational structure and weighted decision authority. This would look like the following:
This example schema allows:
- the CEO to spend funds
- the CFO to spend funds
- the COO to spend funds
- the Treasurer together with Controller to spend funds
- the Controller or Treasurer together with wither the Tax Manager or Accounting to spend funds.
The weighted vote of various deputy staff members to combine their votes to represent a weighted representation for each department
Hence, any attempt to transact at an arbitrary depth can be spanned to construct a flexible authority model to reflect mostly any business governance use-case.
This multi-signature weighting protocol also enables approval processes for 3rd-party intermediaries such as custodians, trusts, and banks.
More XDEX capabilities
As part of a full solution implementation, XDEX can ingest documents out of business workflows in multiple ways.