Oasis joins ISITC Europe to specify technical standards for blockchain

According to both companies “the project will secure international support for a suite of measurable standards for blockchain technology and operational requirements, based on DLT benchmarks developed by the ISITC Europe Blockchain Working Group”.

The ISITC Europe DLT benchmarks establish a methodology for characteristics such as: resilience, scalability, security, latency, data, governance, legal, regulatory, software, and network.

Gary Wright, co-chair of the ISITC Europe Blockchain Working Group, says “there is an industry-wide void in the understanding of how blockchain DLT technology can be implemented and a fragmentation in its application”. Furthermore, he adds that the benchmarks “will provide a valuable tool that will help the industry make sound, informed decisions” and that “by combining academic research with industry operational knowledge, we’ll produce a resilient and sustainable benchmark that can become a standard that can be trusted”.