Onchain

Foundations · Lesson 1.3

Onchain means the ownership record is kept on a blockchain, not only in an issuer's or administrator's internal database. The building, the loan or the bond stays where it is. What sits onchain is the record of who holds the claim, how much they hold and when it last moved. On a public blockchain anyone can check that record without asking the issuer. Whether the onchain record is also the legal record of ownership depends on how the product is set up.

Wally’s note: nice try, eraser

Putting a record onchain does not improve the asset. It makes the ownership record easier to check and harder to change quietly.

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