Simple Assets started with the idea that a digital asset is a promise from the asset creator to the entire community of possible owners. What is the promise? It has four parts:
1. that a chunk of the asset’s data will never change —
2. that the asset author reserves the right to modify another chunk of the asset’s data —
mdata — or to transfer this privilege to another party.
3. that ownership functions (transferring, offering, lending, burning) are expressed entirely outside the control of the author.
4. that the code controlling assets is transparent and overseen by reputable parties.