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Standards Australia releases blockchain roadmap

A new report authored by Standards Australia, and called Roadmap for blockchain standards, outlines a blockchain roadmap comprised of proponents aimed at helping Australian fintech firms to better profit from the distributed ledger technology.

Standards Australia, an independent, not-for-profit organisation, released a new report this month called Roadmap for Blockchain Standards – the culmination of a number of preparatory steps taken by Standards Australia in recent months, including the formation of a “roadmap steering group,” an open survey on blockchain, and a national workshop. The newly published report details the organisation’s plans to deliver measures that are in support of the support the privacy, security and interoperability of blockchain systems.

In particular, the new roadmap aims to resolve key issues including security, best practices and legislative compliance, and more. In this way, the roadmap is expected to offer better foresight for Australia’s leadership with respect to the development of international blockchain standards. In the past, Australia’s legislative system has been the cause of many a headache in the blockchain world, and this is part of the motivation behind the increasingly active role in blockchain innovations that the country is now taking.

The report begins with background information and a detailing of the methodology employedby research. In the first section, detailed descriptions of the processes that went into formulating the roadmap are offered, including the aforementioned steering group, the results of a survey [mentioned previously] that was carried out in December 2016, and a review of a workshop that was held in February of this year. The second part of the report outlines the actual roadmap, which consists of four key sub-sections: (1) priority issues, (2) priority use cases, (3) standards and law, and (4) structure of the ISO/TC 307. The conclusion of the report offers information related to future forward planning.

To read or download a PDF copy of the Standards Australia Roadmap for Blockchain Standards Report, click here.

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