Evidence governance

TUTUM Two Clocks Framework™

Asset evidence and investment governance for physical real assets and RWA tokenisation.

Two speeds. One underlying asset.

Financial and managerial reporting can move faster than the physical, statutory and contractual evidence beneath it. TUTUM reconciles those two clocks before capital and governance decisions are made.

Developed by Mark Burns at TUTUM Advisory, the TUTUM Two Clocks Framework™ addresses evidence latency: the gap between changes in a physical asset and the information used for capital, portfolio and digital-platform decisions. Read the supporting publications and practitioner research.

The principle is simple: the speed of a transaction or report does not determine the currency of the evidence supporting it. TUTUM applies this distinction through source mapping, refresh cadence, materiality triggers and accountable sign-off.

Mark Burns explored the underlying argument in Investment Week, 6 October 2026: “Tokenisation’s biggest challenge lies beyond the blockchain”.

Fast clock

Digital

Near-instant execution
Secondary market trades
Platform telemetry
Automated smart contracts

The TUTUM bridge

Four evidence controls

01Source mapping
02Refresh cadence
03Materiality triggers
04Accountable sign-off

Slow clock

Physical

Leases and statutory title
Physical wear and maintenance
Site inspections
Verified capex milestones

Continuous telemetry is assessed separately from periodic physical verification. Review intervals, acceptable evidence age and sign-off responsibilities are defined for each material input.

The verification layer

Four evidence controls

Control 1: Evidence

Reconcile reporting with physical inspections, statutory records, contracts and verified delivery evidence.

Control 2: Underwriting

Test cost, programme and execution against the original approved investment thesis and base-case returns.

Control 3: Capital gates

Verify whether physical progress supports requested drawdowns, payments and release decisions.

Control 4: Intervention

Expose scope drift, claims, delay and delivery failure early enough for accountable board action.

Publications and white papers

The thinking behind the practice

Mark Burns’s published work connects asset evidence, digital capital and infrastructure performance. The articles and white-paper research below explore complementary aspects of TUTUM’s governance approach.

ETF Express · Editor’s newsletter feature · 25 September 2026