• The experts believe that the lack of standards is bad for industry development.
  • The standards will increase blockchain interoperability and promote technology adoption.

At this stage, blockchain technology has no common standards, which causes may troubles when it comes to blockchain interoperability and compliance. However, the situation may change by 2021, accoding to the recent report published by Moody's.

The experts of the rating agency believe that standardization will promote asset securitization based on blockchain technology.

Standardization is regarded as a time and cost-effective tool that will help to eliminate transaction parties and make data more readily available. Moreover, unified standards will increase blockchains interoperability.

Currently, the lack of standardization and interoperability make all the processes less efficient and increases risks for the parties involved, the experts believe.

"Standardisation of blockchain technology would make its benefits more accessible for securitizations. Standardization would improve interoperability across systems and market participants, but also reduce counterparty concentration, operational and legal/regulatory risks for transactions that use blockchain technology,"  Frank Cerveny, VP-Senior Research Analyst at Moody's commented.

In 2016 the Technical Management Board of the International Organization for Standardization (ISO) approved the creation of a new technical committee on to standardization in the field of blockchain - ISO / TC 307.

In March 2017, the committee by Australia published the first roadmap for developing blockchain standards.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2H chart.

More Bitcoin News

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited.

More Ethereum News

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed.

More Ripple News

Cardano’s IOHK celebrates 120 staking pulls less than 24 hours after testnet launch

The research firm in charge of developing Cardano, a major cryptocurrency, IOHK was delighted to announce the fantastic performance of the newly launched testnet.

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast