This ERC allows documents to be associated with a smart contract and a standard interface for querying / modifying these contracts, as well as receiving updates (via events) to changes on these documents.
Examples of documentation could include offering documents and legends associated with security tokens.
This ERC is part of ERC-1400 and it was created in 2018.
ERC-1400 is still a popular RWA standards even if the ERC has never been finalized.
So what we should finalize ERC-1643?
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This standard is independent from the underlying token (ERC-1400, ERC-20, ERC-721) and can be finalized even if it is not the case for ERC-1400
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It has already been used in production by all ERC-1400 based token. At some point, it makes sense to finalize a standard used in production.
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This standard offers a lightweight version for on-chain document management, which is important for tokenization and RWA.
For ERC-1400, see also Why is ERC-1400 not listed on eips.ethereum.org? and ERC-1400 and ERC-1410 - Security Token and Partially Fungible Token