When Disruptive Meets Streamline: International Standardization in Blockchain

18 Pages Posted: 25 May 2018 Last revised: 19 Jul 2018

See all articles by Panagiotis Delimatsis

Panagiotis Delimatsis

Tilburg Law and Economics Center (TILEC); Tilburg Law School

Date Written: July 5, 2018

Abstract

The emergence of blockchain may transform the way we work, operate and interact. Through the use of distributed ledger technology, blockchain challenges the fundamental of any business model built around middlemen and centralization, while ensuring anonymity, market confidence and trust. Depending on the manner they are structured, blockchains have the advantage of lowering entry barriers; transaction costs and information asymmetries. While the jury is not out yet as to the really disruptive features of the new technology, it is quite clear that blockchain has the traits necessary to alter the way sectors such as health, business and financial services or government services operate. For that to occur, a common vernacular would need to be created. Standardization can successfully offer such vernacular, which could constitute the foundations for enhancing market confidence around the new technology. Against this background, this paper offers an analysis of recent developments on standardizing blockchain at the international level. More specifically, it discusses the focus areas on which international standardization within the International Organization for Standardization (ISO) can be meaningful and indeed crucial if this technology is to benefit from rapid expansion. These notably include security, privacy and overall resilience.

Keywords: blockchain; distributed ledger technologies (DLT); international standardization; ISO; ISO TC 307; governance of blockchain

Suggested Citation

Delimatsis, Panagiotis, When Disruptive Meets Streamline: International Standardization in Blockchain (July 5, 2018). TILEC Discussion Paper No. 2018-021. Available at SSRN: https://ssrn.com/abstract=3184824 or http://dx.doi.org/10.2139/ssrn.3184824

Panagiotis Delimatsis (Contact Author)

Tilburg Law and Economics Center (TILEC) ( email )

Warandelaan 2
Postbus 90153
Tilburg, NL-5000 LE
Netherlands
0031 13 466 8251 (Phone)
0031 13 466 8047 (Fax)

HOME PAGE: http://www.tilburguniversity.nl/webwijs/show/?uid=p.delimatsis

Tilburg Law School ( email )

Warandelaan 2
Postbus 90153
Tilburg, 5000 LE
Netherlands

Register to save articles to
your library

Register

Paper statistics

Downloads
97
rank
329,896
Abstract Views
377
PlumX Metrics