FabAsset: Unique Digital Asset Management System for Hyperledger Fabric

Abstract

Business is innovating with the advent of blockchain that tokenizes digital assets. To expand the blockchain’s potential, Ethereum, a representative permissionless blockchain platform, supports the fungible token (FT) standard ERC-20 and the nonfungible token (NFT) standard ERC-721. Hyperledger Fabric (Fabric), a representative permissioned blockchain platform, proposed FabToken to support tokens in version 2.0.0 alpha. But FabToken contains only FTs, not NFTs. Given the market share in the enterprise blockchains, Fabric needs to support NFTs as soon as possible. This paper presents a unique digital asset management system called FabAsset so that Fabric can run decentralized applications that require NFTs. This paper describes the design of FabAsset, consisting of chaincode and SDK (Software Development Kit), and the prototype of a decentralized signature service leveraging FabAsset to validate its usefulness.