Today the World Economic Forum (WEF) and Global Blockchain Business Council (GBBC) published a report on blockchain standards, the Global Standards Mapping Initiative. The paper does a good job of outlining most of the blockchain standards initiatives underway. It also notes that some standard-setting groups announced at the height of the blockchain hype have failed to publish any work.
“We all know DLT is a network technology and for it to reach mass scale adoption you need strong synergies where every single participant on the value chain experiences the value,” said Mariana Gomez de la Villa, DLT Program Director at ING. “As an ecosystem, we won’t be able to deliver value without developing clear standards.”
There are several challenges in developing blockchain standards. Firstly, unlike the internet, there is no single body such as ICANN, which oversees internet IP addresses, domain names and policy.
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