Internet of Things (IoT) -- System requirements of IoT/SN technology-based integrated platform for chattel asset monitoring supporting financial services

ISO/IEC 30163:2021 specifies the system requirements of an Internet of Things (IoT)/Sensor Network (SN) technology-based platform for chattel asset monitoring supporting financial services, including: - System infrastructure that describes functional components; - System and functional requirements during the entire chattel asset management process, including chattel assets in transition, in/out of warehouse, storage, mortgage, etc.; - Performance requirements and performance specifications of each functional component; - Interface definition of the integrated platform system. This document is applicable to the design and development of IoT/SN system for chattel asset monitoring supporting financial services.

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Publication Date
11-Mar-2021
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ISO/IEC 30163
Edition 1.0 2021-03
INTERNATIONAL
STANDARD
colour
inside
Internet of Things (IoT) – System requirements of IoT and sensor network
technology-based integrated platform for chattel asset monitoring
ISO/IEC 30163:2021-03(en)
---------------------- Page: 1 ----------------------
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ISO/IEC 30163
Edition 1.0 2021-03
INTERNATIONAL
STANDARD
colour
inside
Internet of Things (IoT) – System requirements of IoT and sensor network
technology-based integrated platform for chattel asset monitoring
INTERNATIONAL
ELECTROTECHNICAL
COMMISSION
ICS 35.020; 35.240.40 ISBN 978-2-8322-9442-0

Warning! Make sure that you obtained this publication from an authorized distributor.

---------------------- Page: 3 ----------------------
– 2 – ISO/IEC 30163:2021  ISO/IEC 2021
CONTENTS

FOREWORD ........................................................................................................................... 3

INTRODUCTION ..................................................................................................................... 4

1 Scope .............................................................................................................................. 5

2 Normative references ...................................................................................................... 5

3 Terms and definitions ...................................................................................................... 5

4 Abbreviated terms ........................................................................................................... 5

5 Motivation ........................................................................................................................ 5

6 System infrastructure description of the integrated IoT/SN system ................................... 6

7 System requirements of the IoT/SN technology-based integrated platform ....................... 8

7.1 General system functional requirements for the integrated platform ........................ 8

7.1.1 General ........................................................................................................... 8

7.1.2 Functional requirements for the entities in UD ................................................. 8

7.1.3 Functional requirements for the entities in OMD .............................................. 8

7.1.4 Functional requirements for the entities in ASD ............................................... 9

7.1.5 Functional requirements for the entities in the ACD ....................................... 10

7.1.6 Functional requirements for the entities in the SCD ....................................... 10

7.2 General system performance requirements for the integrated platform .................. 11

7.2.1 General ......................................................................................................... 11

7.2.2 Performance requirements for the entities in the UD, OMD, ASD, and

ACD .............................................................................................................. 12

7.2.3 Performance requirements for the entities in the SCD while in

warehouse ..................................................................................................... 14

7.2.4 Performance requirements for the entities in the SCD while in transit ............ 15

8 System interface descriptions between the entities ........................................................ 16

Bibliography .......................................................................................................................... 20

Figure 1 – Involved parties and their relationships in chattel mortgage financial

services .................................................................................................................................. 6

Figure 2 – System infrastructure of the IoT/SN integrated system ........................................... 7

Table 1 – Performance requirements of weight sensing ........................................................ 14

Table 2 – Performance requirements of position sensing ...................................................... 14

Table 3 – Performance requirements of contour sensing ....................................................... 14

Table 4 – Performance requirements of video sensing .......................................................... 15

Table 5 – Performance requirements of unauthorized access or intruder detection ............... 15

Table 6 – Performance requirements of gateway in warehouse ............................................. 15

Table 7 – Performance requirements of in-transit movement sensing .................................... 15

Table 8 – Performance requirements of gateway in transit .................................................... 16

Table 9 – Interface description .............................................................................................. 16

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ISO/IEC 30163:2021  ISO/IEC 2021 – 3 –
INTERNET OF THINGS (IoT) –
SYSTEM REQUIREMENTS OF IOT AND SENSOR NETWORK
TECHNOLOGY-BASED INTEGRATED PLATFORM
FOR CHATTEL ASSET MONITORING
FOREWORD

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International Standard ISO/IEC 30163 was prepared by subcommittee 41: Internet of Things

and related technologies, of ISO/IEC Joint Technical Committee 1: Information technology.

The text of this International Standard is based on the following documents:
FDIS Report on voting
JTC1-SC41/189/FDIS JTC1-SC41/204/RVD

Full information on the voting for the approval of this International Standard can be found in

the report on voting indicated in the above table.

This document has been drafted in accordance with the ISO/IEC Directives, Part 2.

IMPORTANT – The 'colour inside' logo on the cover page of this publication indicates

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– 4 – ISO/IEC 30163:2021  ISO/IEC 2021
INTRODUCTION

In traditional chattel mortgage processes, the financial industry lacks standardized

management for accessing chattel assets' information, assessing them and sharing the asset

and mortgage information among stakeholders such as financial institutions. Furthermore,

there is no standardized chattel asset monitoring and tracking (or no monitoring at all) which

can quantify and validate chattel assets used as mortgage for loan applications. Even worse,

some bad actors commit fraudulent activities by taking advantage of loopholes (i.e. no

monitoring and lack of shared information), which damages both the financial and the chattel

asset industries.

To resolve and avoid the unnecessary high risks borne by both financial and the chattel asset

industries, sensor network (SN) and IoT technologies are highly applicable to real-time

monitoring and tracking of stored and mobile chattel assets, although such kinds of

technologies were not available in the past. However, no single SN or IoT technology will

satisfy the entirety of chattel asset monitoring and tracking that can be accepted by

stakeholders, especially the financial institution stakeholders. It will be an integrated system

of multiple SN and IoT technologies, which will satisfy the requirements of the stakeholders.

By standardizing the system requirements of the integrated IoT/SN system, the real-time, on-

demand, continual mobile asset monitoring and tracking can be achieved, for example, to

verify the chattel assets' physical characteristics (weight, volume, location, etc.) during

storage and in transit, to evaluate the chattel assets' true and actual market values, to

validate the legitimacy of the chattel assets, etc.

This document promotes the development of the integrated IoT/SN platform for chattel asset

mortgage management, which enables on-demand, real-time, continual chattel asset

monitoring and tracking with verification, quantification, evaluation, and validation. This

standardized integrated platform prevents fraudulent activities, protecting the chattel assets

owned by the mobile asset industry and reducing unnecessary high risks borne by the

financial institution. Furthermore, this document fills the gap between financial systems and

the integrated platform utilizing the SN and IoT technologies.
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ISO/IEC 30163:2021  ISO/IEC 2021 – 5 –
INTERNET OF THINGS (IoT) –
SYSTEM REQUIREMENTS OF IOT AND SENSOR NETWORK
TECHNOLOGY-BASED INTEGRATED PLATFORM
FOR CHATTEL ASSET MONITORING
1 Scope

This document specifies the system requirements of an Internet of Things (IoT) and Sensor

Network (SN) technology-based platform for chattel asset monitoring supporting financial

services, including:
– system infrastructure that describes functional components;

– system and functional requirements during the entire chattel asset management process,

including chattel assets in transition, in/out of warehouse, storage, mortgage, etc.;

– performance requirements and performance specifications of each functional component;

– interface definition of the integrated platform system.

This document is applicable to the design and development of IoT/SN system for chattel asset

monitoring supporting financial services.
2 Normative references
There are no normative references in this document.
3 Terms and definitions
No terms and definitions are listed in this document.

ISO and IEC maintain terminological databases for use in standardization at the following

addresses:
• IEC Electropedia: available at http://www.electropedia.org/
• ISO Online browsing platform: available at http://www.iso.org/obp
4 Abbreviated terms
ACD access and communication domain
ASD application and service domain
OMD operation and management domain
PED physical entity domain
RA reference architecture
SCD sensing and controlling domain
UD user domain
5 Motivation

The chattel mortgage process usually consists of five steps, as shown in Figure 1.

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– 6 – ISO/IEC 30163:2021  ISO/IEC 2021
Figure 1 – Involved parties and their relationships
in chattel mortgage financial services
1) Party A submits loan applications to Party B.

2) Party B authorizes Party C to deliver the chattel mortgage service, which is an

organization responsible for monitoring and evaluating the chattel assets, usually owned

by a third-party.
3) Party A mortgages its chattel asset to Party C.

4) Party C issues chattel asset evaluation for Party B, which acts as an important evidence in

judging the loan repayment capacity of Party A.

5) After reviewing the loan application from Party A, the loan application evaluation by

Party B, and the asset validation and evaluation report from Party C, Party B makes its

final decision whether or not to approve the loan application from Party A.

Traditionally the responsibilities of Party C have been taken by humans, which makes the

mobile assets vulnerable to fraudulent activities. For example, Company A applies for loans

from Bank A using chattel mortgage, where mobile assets are stored in Warehouse A.

However, Company B can illegally use mobile assets stored in Warehouse A that belong to

Company A to apply for loans from Bank B. This case can occur because Bank B has no

information for mobile assets stored in Warehouse A. The information asymmetry between

banks causes lack of effective management on monitoring collateral assets. Another example

could be that Company A illegally delivers those mobile assets stored in Warehouse A to

Warehouse B for repeated applications for loans from Bank B. This can also occur because

there is no standardized management for in- and out-of-warehouse check of collateral assets.

To avoid the unnecessary loss of both financial and the chattel asset industries, this

document provides the standardization of the IoT/SN platform, which integrates multiple SN

and IoT technologies to realize the real-time, on-demand, continual chattel asset monitoring

and tracking.
6 System infrastructure description of the integrated IoT/SN system

Figure 2 illustrates the system infrastructure of the IoT/SN integrated system for chattel asset

and mortgage management. This system consists of six domains, which are in accordance

with the IoT Reference Architecture (IoT RA) specified in ISO/IEC 30141.
---------------------- Page: 8 ----------------------
ISO/IEC 30163:2021  ISO/IEC 2021 – 7 –
Figure 2 – System infrastructure of the IoT/SN integrated system
Each domain that maps to the IoT RA as shown in Figure 2 is described below.

1) Physical entity domain (PED) consists of chattel assets being monitored and tracked,

where the examples of chattel assets can be steel coil, minerals, textile raw materials, etc.

2) Sensing and controlling domain (SCD) realizes sensing and controlling of the chattel

assets. It contains functional entities for weight sensing, position sensing, contour sensing,

video sensing, movement sensing, etc.

3) Application and service domain (ASD) provides asset monitoring and tracking services for

the users in the user domain (UD), which is categorized into two levels: basic service and

business service. Basic service provides support for business services, for example, data

management. Business service offers specific services for the users, including stock

monitoring in warehouse, in- and out-of-warehouse management, alarming management,

etc.

4) Operation and management domain (OMD) provides system operational maintenance.

5) Access and communication domain (ACD) offers data and information access with
external entities, for example, financial institutions' systems and platforms.
---------------------- Page: 9 ----------------------
– 8 – ISO/IEC 30163:2021  ISO/IEC 2021

6) User domain (UD) includes the users for the system: financial institutions, chattel asset

owners, chattel asset monitoring organization, etc. Chattel asset owner is the organization

that owns chattel assets and requests a loan, which is Party A in Figure 1. Financial

institutions usually mean banks, which are Party B in Figure 1 to provide loans for the

chattel asset owner. Chattel asset monitoring organization is responsible for asset

monitoring, which maps to Party C in Figure 1.

In this document, the general system functional and performance requirements for the IoT/SN

integrated platform, which includes the entities in UD, OMD, ASD, ACD, and SCD, are

specified. Additionally, the high-level, general interface descriptions between the entities are

also described. Any requirements or interface descriptions related to financial transactions

and processing are out of scope of this document.
7 System requirements of the IoT/SN technology-based integrated platform
7.1 General system functional requirements for the integrated platform
7.1.1 General

The general system functional requirements for the integrated platform are provided in 7.1 for

the relevant domains shown in Figure 2, i.e. UD, OMD, ASD, ACD, and SCD. The software of

the integrated platform should be upgradable by subsystem software modules.
7.1.2 Functional requirements for the entities in UD
7.1.2.1 Financial institution

Upon request, the financial institution shall receive order-related business data and the real-

time video data of the chattel asset. In addition, when some unexpected events occur to the

chattel asset, the financial institution shall receive an alarm with the event recording data.

7.1.2.2 Chattel asset owner

Upon request, the chattel asset owner shall receive order-related business data and the real-

time video data of the chattel asset. In addition, when some unexpected events occur to the

chattel asset, the chattel asset owner shall receive an alarm with the event recording data.

7.1.2.3 Chattel asset monitoring organization

Upon request, the chattel asset monitoring organization shall receive order-related business

data and the real-time video data of the chattel asset. In addition, when some unexpected

events occur to the chattel asset and the devices, or some unexpected security events occur,

the chattel asset monitoring organization shall receive an alarm with the event recording data.

7.1.3 Functional requirements for the entities in OMD
7.1.3.1 Device management

The device management shall perform device configuration and maintain the operation status

of the devices via local or remote management, including log recording, fault diagnosis,

firmware management, power management, etc.

During normal operations, the device management shall receive operation and maintenance

status from the gateway in warehouse and the gateway in transit.

When an unexpected event occurs at a device or devices and such an event is detected at the

device management, the device management shall generate and send an alarm message with

the relevant event recording data to the chattel asset monitoring organization as a dynamic

interactive service.
---------------------- Page: 10 ----------------------
ISO/IEC 30163:2021  ISO/IEC 2021 – 9 –
7.1.3.2 Security management
The security management shall ensure network security and user privacy:
– illegal external access and terminal access shall be prohibited; and

– the user's information shall have authenticity, integrity and confidentiality, which are

protected against any unauthorized access.

During normal operations, the security management shall receive sensing data of the chattel

asset from the ASD, and exchange data of chattel status as well as that of financial

transaction from external systems for the sake of secure data transmission.

When an unexpected event occurs, the security management shall send an alarm with

relevant event recording data to chattel asset monitoring organization in the UD.

7.1.4 Functional requirements for the entities in ASD
7.1.4.1 Order receipt management

The order receipt management shall perform management with respect to the order of chattel

mortgage business, for example, order creation, order information enquiry, order information

update, order lock/release, etc. It shall receive the order operation instructions from the

chattel asset monitoring organization, such as adding, deleting, modifying the orders. It shall

send the chattel asset business data, including chattel asset status data (e.g. chattel asset

type, specification, quantity, stock position) and chattel asset transaction data (e.g. pledgee,

pledger, order number, order amount), to the ACD and the UD.
7.1.4.2 Chattel asset monitoring in warehouse

The chattel asset monitoring in warehouse shall receive in-warehouse monitoring tasks from

the chattel asset monitoring organization in the UD and send back the execution data of the

tasks.

– While the chattel assets are in the warehouse, it shall provide real-time monitoring of the

chattel asset status, for example, it provides real-time stock position status enquiry and

update.
– In addition, the chattel asset monitoring in warehouse shall provide in- and
out-of-warehouse management through remote operations. For example, when chattel

assets are delivered into warehouses, it shall perform information entry of chattel assets,

the preliminary examination of chattel assets, the assignment of in-warehouse delivery,

etc. When chattel assets are delivered out of warehouses, it shall perform the verification

of chattel asset information, the assignment of out-of-warehouse delivery, etc.

When some unexpected events occur to the devices, the chattel asset monitoring in

warehouse shall receive the alarm with relevant event recording data from the OMD. In

addition, it shall send an alarm with event recording data to the UD when unexpected events

are detected for the chattel asset, for example, unauthorized removal of the chattel asset.

7.1.4.3 Chattel asset monitoring in transit

The chattel asset monitoring in transit shall receive in-transit monitoring tasks from the chattel

asset monitoring organization in the UD and send back the execution data of the tasks. It

shall provide real-time monitoring of the chattel asset status (e.g. vibration, tilting).

When some unexpected events occur to the devices, the chattel asset monitoring in transit

shall receive the alarm with relevant event recording data from the OMD. In addition, it shall

send an alarm with event recording data to the UD when unexpected events are detected for

the chattel asset, for example, severe vibration of the chattel asset.
---------------------- Page: 11 ----------------------
– 10 – ISO/IEC 30163:2021  ISO/IEC 2021
7.1.4.4 Data management

The data management shall store and process the data of the integrated platform. It shall

receive sensing data of the chattel asset from the gateways in the SCD and send the real-time

video data of chattel asset to the UD upon request. In addition, it can send the sensing data

to the OMD for the sake of secure transmission.

The data management shall have backup and shall not be lost when unexpected disaster

occurs, for example, system power off. The data shall be recovered after the system is

resumed.
7.1.5 Functional requirements for the entities in the ACD
7.1.5.1 Data exchange management on chattel asset status

The data exchange management on chattel asset status shall realize data exchange on

chattel asset status for the ASD and OMD with external systems. It shall receive the chattel

asset status data from the ASD. In addition, it shall send the exchange data of chattel asset

status received from external systems to the OMD.
7.1.5.2 Data exchange management on financial transaction

The data exchange management on financial transaction shall realize data exchange on

financial transaction for the ASD and OMD with external systems. It shall receive the chattel

asset transaction data from the ASD. In addition, it shall send the exchange data of chattel

asset financial transaction from external systems to the OMD.
7.1.6 Functional requirements for the entities in the SCD
7.1.6.1 Weight sensing

The integrated platform shall acquire the weight data of the chattel asset in the warehouse

using the weight sensing subsystem.

The weight sensing subsystem will trigger early warning when the gross weight declared in

the order receipt exceeds ±5 % of the actual gross weight of the chattel asset.
7.1.6.2 Position sensing

The integrated platform shall acquire the position data of the chattel asset using the position

sensing subsystem.
The position sensing subsystem shall trigger alarms in the following cases:

– the actual stock position of the chattel asset differs from that as declared in the order

receipt; and
– the chattel asset is placed in an unauthorized area in the warehouse.
7.1.6.3 Contour sensing

The integrated platform shall acquire the three-dimensional contour and the volume of the

chattel assets using the contour sensing subsystem.

The contour sensing subsystem shall trigger early warning when it cannot finish scanning of

the contour within a certain period of time or the chattel asset is obstructed from the scanning

field of view.

The contour sensing subsystem shall trigger alarms when the actual volume of the chattel

asset differs from the declared volume in the order receipt.
---------------------- Page: 12 ----------------------
ISO/IEC 30163:2021  ISO/IEC 2021 – 11 –
7.1.6.4 Video sensing

The integrated platform shall acquire the video streaming data in the monitoring area of a

warehouse.

The video sensing subsystem will trigger early warning when the chattel asset in the

monitoring area is removed without any authorization. The warehouse administrators need to

check the early warning and trigger alarms manually after confirmation.
7.1.6.5 Intruder detection

The integrated platform shall analyse and determine the intrusion behaviour via video

analytics. The video analytics can be performed locally by using a computer vision technology

for the monitoring area of a warehouse.

– For the case of human intrusion during warehouse off-hours, the alarm systems in all

entries (e.g. windows, doors, gates, elevators, passage, etc.) shall be activated. When the

alarm systems detect an
...

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