Bitcoin Foundation to standardise Bitcoin as a fiat currency in international trade

Friday 20 June 2014 13:29 CET | News

The Bitcoin Foundation is looking for volunteers for its Standards Committee, whose main objective will be to create and adopt a Bitcoin Unicode symbol, reports.

This committee will also examine denomination conventions, develop a recommended standard and deal with other, unspecified duties.

The issue began to be broached in 2013 and Unicode variants such as ‘?’ (Thai Baht symbol) and ‘?’ were proposed.

The Bitcoin Foundation Standards Committee will first have to look at a number of different options, assess them, put them up for vote and eventually adopt one. Then comes the task of adding it to Unicode.

In addition to designing and implementing a new Unicode symbol, Bitcoin will also require an ISO currency code standard. Currency code XBT is gaining traction for Bitcoin under the ISO 4217 standard.

The second main task involves Bitcoin denominations. The foundation states that the committee will have to examine denomination conventions and agree upon the standard one.

The announcement was posted by Bitcoin Foundation forum admin Brad Wheeler, who cited membership director Kevin Beardsley as the go-to person for additional information.

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Keywords: Bitcoin Foundation, standardization, regulation, ISO, unicode symbol, digital currency, crypto-currency
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce