M1 • Finternet Fundamentals
This module teaches the enterprise basics: the tokenization lifecycle, roles, trust boundaries, control points, settlement models, and the proof artifacts buyers expect before they sign.
Outcomes & timebox
- Explain the tokenization lifecycle and where failures happen
- Map the main roles (issuer, operator, custodian, broker, auditor)
- Identify trust boundaries and required controls at each boundary
- Describe settlement finality and why enterprises care
- Produce a first-pass Proof Pack outline (runbook + evidence + acceptance)
None required. If you’re new, do the module in order and use the worksheet at the end.
Core concepts
Tokenization lifecycle (enterprise view)
| Stage | What happens | Primary risk | Proof expected |
|---|---|---|---|
| Mint | Create token supply + policies | Incorrect supply / policy drift | Change control + approvals + logs |
| Distribute | Allocate to participants / wallets | Bad onboarding / access | KYC/controls evidence (without PII) |
| Transfer | Movement between parties | Fraud, abuse, limits failure | Limits + alerts + exception queue |
| Settle | Finality + records updated | Disputes, mismatch, rollback | Recon reports + finality rules |
| Redeem | Token → underlying / cash | Liquidity / redemption failure | Redemption SLA + incident logs |
Use this table when writing your proof pack—each stage needs: controls + monitoring + evidence.
Who does what
Issuer
Operator
Custodian / Broker / Auditor
Trust boundaries & controls
Boundaries you must control
Boundary A: Human → System
Authentication, RBAC, least privilege, approval workflows, session logging.
Boundary B: System → Chain / Ledger
Signing policies, transaction simulation, limits, monitoring, rollback plan.
Boundary C: System → External Providers
Custodian integrations, price feeds, banking rails, third-party SLAs.
Minimum enterprise controls
- RBAC + least privilege (role matrix is documented)
- Change control (who can change what + approvals + rollback)
- Monitoring (alerts tied to SLAs + owners)
- Recon (expected vs actual states)
- Exception queue (non-standard cases routed + resolved)
- Evidence exports (audit-friendly, no sensitive leakage)
Evidence & proof artifacts
The 5 artifacts most buyers expect
- Runbook outline (daily ops, exceptions, incidents)
- Evidence packet checklist (what is captured, by whom, and retained)
- Control matrix (controls → risks → evidence mapping)
- Acceptance checklist (testable outcomes and signoff)
- Change control policy (release gates, approvals, rollback)
What “evidence” means (without leaking sensitive info)
Copy these headings
# Runbook (Outline)
- Daily checks
- Recon workflow
- Exceptions
- Incident response
- Evidence exports
# Evidence Packet (Checklist)
- Access/RBAC evidence
- Change control evidence
- Recon reports
- Exception queue logs
- Incident/postmortems
# Acceptance Checklist
- Criteria (measurable)
- Test steps
- Evidence required
- Signoff
Mini case study
Settlement mismatch at close of day
Your system shows a client position of 10,000 tokenized treasuries. The custodian reports 9,950. The buyer asks: “How do you detect this, resolve it, and prove the result?”
- Recon trigger + owner
- Exception queue + severity
- Resolution workflow + approvals
- Evidence packet items captured
- Postmortem if SLA breach occurs
Write a 6–10 line “Ops response” that you could hand to a bank.
Build your Proof Pack worksheet
Fill in the fields. Then download a ready-to-save Markdown file.
Not statements — outputs
Every module must produce an artifact: checklist, runbook section, control matrix, or proof pack component.
Measurable gates
Quizzes + capstone + exam. You don’t “complete” by clicking; you complete by passing gates.
Repeatable delivery
Templates, owners, SLAs, and evidence. That’s what closes enterprise deals.