diff --git a/spec/assumptions.md b/spec/assumptions.md
index 2e5f6f07d..20267d2db 100644
--- a/spec/assumptions.md
+++ b/spec/assumptions.md
@@ -18,6 +18,8 @@ made in the API standard. For example, JIT compilers may require output dtypes
 of functions to be predictable from input dtypes only rather than input values.
 
 
+.. _assumptions-dependencies:
+
 ## Dependencies
 
 The only dependency that's assumed in this standard is that on Python itself.
diff --git a/spec/design_topics/data_interchange.md b/spec/design_topics/data_interchange.md
index bf21592ba..b8ded4eaf 100644
--- a/spec/design_topics/data_interchange.md
+++ b/spec/design_topics/data_interchange.md
@@ -1 +1,72 @@
 # Data interchange mechanisms
+
+This section discusses the mechanism to convert one type of array into another.
+As discussed in the :ref:`assumptions-dependencies <Assumptions>` section,
+_functions_ provided by an array library are not expected to operate on
+_array types_ implemented by another library. Instead, the array can be
+converted to a "native" array type.
+
+The interchange mechanism must offer the following:
+
+1. Data access via a protocol that describes the memory layout of the array
+   in an implementation-independent manner.
+   _Rationale: any number of libraries must be able to exchange data, and no
+   particular package must be needed to do so._
+2. Support for all dtypes in this API standard (see :ref:`data-types`).
+3. Device support. It must be possible to determine on what device the array
+   that is to be converted lives.
+   _Rationale: there are CPU-only, GPU-only, and multi-device array types;
+   it's best to support these with a single protocol (with separate
+   per-device protocols it's hard to figure out unambiguous rules for which
+   protocol gets used, and the situation will get more complex over time
+   as TPU's and other accelerators become more widely available)._
+4. Zero-copy semantics where possible, making a copy only if needed (e.g.
+   when data is not contiguous in memory).
+   _Rationale: performance._
+5. A Python-side and a C-side interface, the latter with a stable C ABI.
+   _Rationale: all prominent existing array libraries are implemented in
+   C/C++, and are released independently from each other. Hence a stable C
+   ABI is required for packages to work well together._
+
+The best candidate for this protocol is DLPack. See the
+[RFC to adopt DLPack](https://github.com/data-apis/consortium-feedback/issues/1)
+for details.
+
+.. note::
+
+    The main alternatives to DLPack are device-specific methods:
+
+    - The [buffer protocol](https://docs.python.org/dev/c-api/buffer.html) on CPU
+    - `__cuda_array_interface__` for CUDA, specified in the Numba documentation
+      [here](https://numba.pydata.org/numba-doc/0.43.0/cuda/cuda_array_interface.html)
+      (Python-side only at the moment)
+
+    An issue with device-specific protocols are: if two libraries both
+    support multiple device types, in which order should the protocols be
+    tried? A growth in the number of protocols to support each time a new
+    device gets supported by array libraries (e.g. TPUs, AMD GPUs, emerging
+    hardware accelerators) also seems undesirable.
+
+    In addition to the above argument, it is also clear from adoption
+    patterns that DLPack has the widest support. The buffer protocol, despite
+    being a lot older and standardized as part of Python itself via PEP 3118,
+    hardly has any support from array libraries. CPU interoperability is
+    mostly dealt with via the NumPy-specific `__array__` (which, when called,
+    means the object it is attached to must return a `numpy.ndarray`
+    containing the data the object holds).
+
+
+TODO: design an appropriate Python API for DLPACK (`to_dlpack` followed by `from_dlpack` is a little clunky, we'd like it to work more like the buffer protocol does on CPU, with a single constructor function).
+
+TODO: specify the expected behaviour with copy/view/move/shared-memory semantics in detail.
+
+
+.. note::
+
+    If an array that is accessed via the interchange protocol lives on a
+    device that the requesting library does not support, one of two things
+    must happen: moving data to another device, or raising an exception.
+    Device transfers are typically expensive, hence doing that silently can
+    lead to hard to detect performance issues. Hence it is recommended to
+    raise an exception, and let the user explicitly enable device transfers
+    via, e.g., a `force=False` keyword that they can set to `True`.