ISO examines desirability of an international Blockchain-standard
Earlier this year Australia’s peak standard-setting body, Standards Australia, has asked the Geneva-based ISO to begin working on global standards for blockchain. ISO started a global consultation and the Dutch standard-setting body NEN now asks Dutch stakeholders to give their opinion about this proposal.
Reason for Australia’s proposal is the immense popularity of the blockchain all over the world. It all started with Bitcoin but the blockchain technology is now used for a lot more purposes. Setting an international standard can increase the value of blockchain-technology significantly.
“The technology has the potential to significantly cut the cost of financial transactions such as share trading. It also has potential to apply to centralised record keeping such as land titles.”
ISO has the capacity, through its members, to have a standards development process including the capacity to liaise with other industry groups.”