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ISO begins work on future standardization for blockchain technology
The International Organization for Standardization (ISO), an independent, non-governmental international organization with a membership of 163 national standards bodies, has revealed that it is working on international blockchain standards.
A new ISO technical committee has defined the areas for future standardization work. An inaugural meeting of ISO TC 307 Blockchain and electronic distributed ledger technologies was recently held in Sydney. It brought together international experts from over 30 countries to set the future course of standardization in this area, and formed five key study groups for standard development:
Craig Dunn, the chair of ISO/TC 307, for which the secretariat is held by Standards Australia, ISO’s member for Australia, said blockchain technology can have huge implications in business and government.
“Blockchain technology is a means of achieving trust and security when making exchanges, without the need for oversight by a trusted third party, and can be effective building blocks for other initiatives like anti-corruption and fraud prevention,” he said.
“Future standardization in this area can take the development of these technologies to the next step by providing internationally agreed ways of working, stimulating greater interoperability, speedier acceptance and enhanced innovation in their use and application.”
The study groups will consider the priority areas for standardization as they prepare their reports for their next meeting, where future standards to be developed will be agreed. The study groups will take into consideration roadmap reports developed by Standards Australia and BSI as well as submissions from member bodies prepared for the first meeting.
The next meeting is scheduled to take place in November this year.