ITU thinks Blockchain and pals need interoperability – The Register

The International Telecommunications Union (ITU) has decided the time is ripe to start talking about what standards might be developed for distributed ledgers, aka Blockchain and fellow-travellers.

The august body will therefore convene the The ITU-T Focus Group on Application of Distributed Ledger Technology (FG DLT) for the first time in October, for a three-day gabfest with the aim of “identifying the standardized frameworks needed to support the scaling up of applications and services based on DLT globally.”

Among the “specific tasks and deliverables” for the meeting is to “study and analyse the implications of mandating interoperability and interconnection of services based on DLT. This will include the development of a standardization roadmap for interoperable services based on DLT taking into consideration the interoperability challenges and best practices.

More at: ITU thinks Blockchain and pals need interoperability – The Register

ISO begins work on future standardization for blockchain technology – EconoTimes

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:

  • Reference architecture
  • Taxonomy and ontology
  • Use cases
  • Security and privacy
  • Identity and smart contracts

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.

More at: ISO begins work on future standardization for blockchain technology – EconoTimes

The Primary Challenge To Blockchain Technology – Forbes

Any emerging technology goes through a hype stage. It takes a while to get the kinks out and for pilots and proofs of concepts to prove use cases and shift the curve to broad adoption. The power and disruption of blockchain is evident in the news almost daily, and people are beginning to understand how blockchain distributed ledger technology works. I’ve previously blogged about soaring investments in pilots and proofs of concepts (POCs) on its security and examples of use cases. Even so, there are several issues currently slowing adoption.

Blockchain adoption is currently crossing the chasm, and I believe the next two years will be critical for resolving issues now slowing broader adoption.

What Are The Obstacles To Adoption?

1. Regulations

Regulatory entities often lag technology innovation, and that’s certainly the case with blockchain. New products and services are evolving based on blockchain transactions, but there are currently no regulations on how the transactions should be written. Although auditability and transparency are promised benefits of blockchain, highly regulated industries may need to develop new regs for blockchain. Its distributed ledger transactions are likely to necessitate changes to industry regulations governing financial reporting as well as auditing processes. Information-sharing regulations will likely need to be altered to protect companies as well as their investors and their customers. In addition, laws will need to be enacted that govern blockchain’s smart contracts.

Source: The Primary Challenge To Blockchain Technology – Forbes

IEEE launches standards program focused on blockchain and identity – SecureIDNews

Technical organization and standards leader, IEEE, is launching a new program to create standards around consumer and patient data protection, specifically as it relates to blockchain and identity. Called, Digital Inclusion through Trust and Agency, the initiative will bring together technology innovators, policy experts and academic researchers to address the topic.

“Identity is a consideration in every business and social transaction,” explains Greg Adamson, program co-chair. “Blockchain technology could be the catalyst to making universal and dignity respecting digital identification systems a reality with its unique ability to retain identities in a secure and immutable manner.”

More at: IEEE launches standards program focused on blockchain and identity – SecureIDNews

Vitalik Buterin Reveals Ethereum-Based $92 Bln Firm’s DApp and More: CT Exclusive – CoinTelegraph

In an exclusive interview with Cointelegraph, Ethereum Co-Founder Vitalik Buterin reveals some of the many exciting applications being developed by banks, startups and corporations within the Enterprise Ethereum Alliance and shared the development roadmap of Ethereum for 2017.

Corporations interest

On March 13, Cointelegraph attributed the recent all-time high Ethereum price to the Ethereum Foundation’s partnership strategy success. The introduction of the Enterprise Ethereum Alliance (EEA), formed by it, spurred the interests of global large corporations.

Since then, startups and corporations within the EEA have been developing exciting applications on top of the Ethereum Blockchain and framework. In an interview, Buterin reveals to Cointelegraph some of these projects:

“Many of them [the companies in EEA] are developing applications. There is a company in Taiwan which is working on Ethereum consortium chain-based payment solution and several other Blockchain applications they are using to record data from triathlons for example. They have already been making quite a lot of progress in talking to regulators and trying to move something forward to the mainstream audience.”

Recently, Buterin visited the Taiwan Blockchain and Ethereum meetup to discuss some of the projects of the Ethereum Foundation and Ethereum’s development roadmap for the year 2017.

More at: Vitalik Buterin Reveals Ethereum-Based $92 Bln Firm’s DApp and More: CT Exclusive – CoinTelegraph

Healthcare Blockchain Relies on Industry Standardization – HIT Infrastructure

Healthcare blockchain is growing as organizations seek more secure ways to exchange information and conduct transactions with other entities.

The enterprise blockchain market is expected to grow at a CAGR of 26 percent through 2025, according to a recent Tractica report. Healthcare is one of the verticals expected to see the most benefit from blockchain in the next several years.

Report authors explained that blockchain offers a radically different approach for transaction processes, which makes it difficult for some organizations to embrace.

The healthcare industry in particular is historically hesitant when it comes to embracing technology that operates differently than traditional solutions. Entities need to be sure that a solution is completely secure and HIPAA compliant before they can consider deploying it in a healthcare setting.

More at: Healthcare Blockchain Relies on Industry Standardization – HIT Infrastructure

What Is the Proper Level of Standardization for the IoT? – IT Business Edge

The Internet of Things (IoT) is taking shape at a rapid clip, but like any other cooperative technology initiative, the need for standards is starting to draw interest as well.

While it seems obvious that millions of sensors distributed around the globe would need some sort of interoperable framework, what about the rest of the IoT infrastructure? When we delve into wireless networks, backhaul and even analytics, where will standards help overall IoT functionality and where will they hurt?

At the recent Enterprise IoT Summit in Austin, Texas, InterDigital Executive Vice President Jim Nolan pointed out that when it comes to municipal IoT endeavors like smart cities, the need for standardization will be quite broad. Without commonality in M2M communications and other facets, the development of smart cities could see a collective cost overrun of some $341 billion, or about 30 percent of the cost of implementation, according to a recent study by Machina Research. When we consider that the World Economic Forum estimates that the IoT could drive some two-thirds of global GDP over the next decade, this represents a huge, and utterly avoidable, expense for the world economy.

Already, multiple organizations are looking to standardize specific pieces of the IoT, says manufacturing.net’s Maciej Kranz. The IEEE has launched multiple initiatives aimed at bringing industry, academia, entrepreneurs and investors to the table over basic architectural frameworks and the means to merge policy decisions with technological developments. As well, the oneM2M Consortium is working on a common M2M service layer, while the AVnu Alliance is building standards for time-sensitive networking. Meanwhile, various industry consortia are looking into Industrial IoT standards overseeing interconnects, analytics and even employee retraining for the new work environment.

. . .

And while certain highly regulated industries, like health care, require a fairly open framework for data exchange, it can be difficult to determine exactly how deep the commonality should extend. IBM has adopted SNOMED CT, an international standard for clinical terminology, for its Watson-based health care data analytics platform. This should help streamline the exchange of medical information between organizations, which in turn should improve processes like diagnostics, treatment coordination and prescription fulfillment. At the same time, the company is working with the FDA to implement the blockchain open ledger format for health data collection and other research-related functions. As a vendor solution, however, this data exchange becomes more complicated between IBM users and those who have adopted rival platforms. (Disclosure: I provide content services for IBM.)

More at: What Is the Proper Level of Standardization for the IoT? – IT Business Edge