EVENT

EVENT records that an authorized state transition, observation, usage, transfer, derivation or other material action occurred.

Event design

A useful event identifies the actor, target/object, action, time, authorization/rights context, evidence/provenance references and resulting state. Events should be append-oriented; later corrections should supersede or contest prior events rather than silently rewriting them.

Examples

• Authority delegation or revocation.
• Rights issuance/transfer/expiry.
• Evidence ingestion or attestation.
• Passport issuance/verification.
• Trade, clearing or settlement transition.
• Usage of a licensed asset.
• Creation of a derivative output.
• Backup/recovery/export.

From event to value

An EVENT does not automatically create economic VALUE. The protocol should only recognize an economic consequence when the applicable rights/contract/settlement evidence supports it.