Standards Committee Working Group
The Standards Committee was created in April 2020 to create a neutral platform for INATBA Members to engage in standards work. The Committee is a horizontal group that aims to liaise with stakeholders, contribute to policy development via dialogue with regulators and promote convergence of standards and policies.
The Standards Committee has agreed on three main objectives around which it will carry out its annual work:
- - Promote transparent and inclusive DLT governance and cooperation via liaison with stakeholders
- - Inform policy and regulatory development through close dialogues with policy-makers and regulators
- Promote convergence of standards & policies through cooperation, accelerating deployment for benefit of society and economies
The Working Group engages in a number of activities to achieve the above-mentioned objectives. Among others, the WG works to:
- Publish a report on Standards, Governance and Interoperability
- Build relationships with global standards-setting bodies
- Represent INATBA and the Standards Committee at EU and global events
- CAMSS and EIRA bilateral contributions
CAMMS is EU’s Common Assessment Method for Standards and Specifications
EIRA is the European Interoperability Reference Architecture
Work to date
The Standards Committee was launched in April 2020. So far, they have established liaison relationships with two global standards-setting bodies, ISO and ITU-T.
The Committee held three roundtable events focused on the role of standards in global blockchain development, including building global blockchain infrastructure, growing large-scale DLT infrastructure and the importance of standards in regard to linguistic and culture differences in global discussions.
The Standards Committee aims to promote the importance of standards to all INATBA members and has held a half-day event for interested members in May 2020 and a roundtable for the GAB in this regard.
Why is it essential?
Standards are a necessary component in any technological field. In the blockchain ecosystem, they help to:
- Enables interoperability of systems/services
- Encourage and spreads innovation & transfer of research, preventing duplication of effort and opening new markets
- Expands the market, brings down costs and increases competition and creates trust and confidence in products and services
- Eases participation in procurement
- Avoids vendor lock-in: interchangeability of system component suppliers
- Increases Reputation
- Builds strategic partnerships
- Eliminates Technical Barrier to Trade