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ISO20022 #1033

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Oct 25, 2023
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ISO20022 #1033

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OpenSmartContract Oct 20, 2023
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Update ISO20022-milestone1.md
keeganquigley Oct 23, 2023
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Update ISO20022-milestone1.md
keeganquigley Oct 23, 2023
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30 changes: 30 additions & 0 deletions deliveries/ISO20022-milestone1.md
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# Milestone Delivery :mailbox:

**The delivery is according to the official [milestone delivery guidelines](https://github.com/w3f/Grants-Program/blob/master/docs/Support%20Docs/milestone-deliverables-guidelines.md).**

* **Application Document:** https://github.com/w3f/Grants-Program/blob/master/applications/ISO20022.md
* **Milestone Number:** 1

**Context** (optional)
The project is an [ISO20022](https://www.iso20022.org/) based cross-border payment proof of concepts in respond to [RFP 20022](https://github.com/w3f/Grants-Program/blob/master/docs/RFPs/Open/ISO_20022.md)

**Deliverables**

| Number | Deliverable | Original Notes | Links |
| ------------- | ------------- | ------------- |------------- |
| **0a.** | License | Apache 2.0 | |
| **0b.** | Documentation | Design documents with details on what it takes for Polkadot/Substrate to support ISO20022 messages, gaps and solution recommendations | [Document](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit?usp=sharing) |
| 1. | Design the use case | Design an ISO20022 cross border payment use case with persona, end-to-end flow | [Use case](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.jbusns55fqv8) |
| 2. | Identify ISO20022 message types and examples for X-border payment | Specify all ISO20022 message types with examples for cross border payment, including reference data fields | [Messages](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.3bizhqqfqokf) |
| 3. | Map ISO20022 <> XCM messages | Map ISO20022 cross-border payment message types to a set of XCM messages with processing logic, including identifying data type incompatibilities between IS20022 and XCM, replacement data types and necessary XML transformations | [XCM](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.edn1td52fpla) [Mappings](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.vcikuv2j31oe) |
| 4. | Map ISO20022 <> XCMP | Map ISO20022 cross-border payment messageing to XCMP for cross parachains transport| [Asset Transfer XCMs](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.y5pbl1ktt009) |
| 5. | Specify off chain data storage | Specify off chain data structure, storage and indexes for ISO20022 messages, payments, events, stats| [Storage](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.61lo4pidrxdc) |
| 6. | Specify off chain worker logic | Specify OCW logic for ISO20022 message processing, payment flow, error handling| [OCW](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.ju6ykbwdfekp) |
| 7. | Specify Substrate pallets | Specify custom pallet(s) to implement X-border payments and OCW integrations| [pallets](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.8b80onxdand3) |
| 8. | Recommend blockchain gas fees handling in ISO20022 framework | Recommend solution how to fulfill blockchain gas fees in ISO20022 framework | [Fees and charges](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.2b7eq0ofq9wv) |
| 8. | Recommend how to implement ISO20022 cross-border charges & fees | Recommend solution how to implement ISO20022 cross-border payment inter-bank / X-border payment charges and fees | [Fee recommendations](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.2b7eq0ofq9wv) |
| 9. | Specify query of ISO20022 messages and transactions | Specify query interface to retrieve selected ISO20022 messages and transactions| [Queries](https://docs.google.com/document/d/1pMY0D-vTBEVq65Ro4PW3LzXrT1ZVl9l4r7jIMHmfBqs/edit#heading=h.ykoxriwep1ug) |
| 10. | Publication to share with the broader community and get additional feedback | Medium article covering: 1) feasibility and comparative advantages of Substrate based ISO20022 compliant cross-border payments on Dotsama chain; 2) benefits of such a solution in contrast to traditional centralized cross-border payments; 3) recommendation of future works towards a scalable, performant and cost effective solution supporting ISO20022 on Polkadot/Kusama chains and beyond. | Draft and publish [Medium article](https://medium.com/@0xrwas/cross-border-payment-proof-of-concept-supporting-iso20022-messages-on-the-polkadot-blockchain-3846910fc8de) |


**Additional Information**
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