This week Standards Australia released their “Roadmap for Blockchain Technology Standards” report. As the name suggests, it provides a roadmap for the creation of standards in the blockchain/DLT sector. More specifically:
The Roadmap is designed to: identify the various technical issues associated with developing, governing and utilising blockchains and Distributed Ledger Technologies (DLT); identify blockchain and DLT use-cases relevant to Australia; and prioritise the order of standards development activities that could be undertaken in the development of blockchain standards by ISO/TC 307 Blockchain and electronic distributed ledger technologies.
The paper covers off on the major industry sectors in which there has been an uptick in use and application of blockchain tech. It also summarises the process that Standards Australia has taken so far.
For the most part, the standards process is valuable — at the very least it starts a conversation on what some of the major challenges are in the industry around interoperability. However, the question remains: ‘Is it too early for standards?’
The real risk that arises with building out standards now, is that they might not really reflect where the industry is headed. It might be a case of building a bridge that is headed to a place no one wants to visit.
Regardless, I know I’ll be watching the process carefully to see what the major interoperability themes end up being.