{"id":30104,"date":"2020-10-14T18:00:16","date_gmt":"2020-10-14T15:00:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30104"},"modified":"2025-08-27T20:34:29","modified_gmt":"2025-08-27T17:34:29","slug":"study-finds-blockchain-development-hampered-by-lack-of-universal-standards","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/study-finds-blockchain-development-hampered-by-lack-of-universal-standards\/","title":{"rendered":"Study finds blockchain development hampered by lack of universal standards"},"content":{"rendered":"<p>The effectiveness of standards for blockchain development and regulation depends on regulators&#8217; understanding of the technology, and the development of the sector on clear terminology. The conclusions are contained in a joint study by the World Economic Forum (WEF) and the Global Blockchain Business Council (GBBC).<!--more--><\/p>\n<p style=\\\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\\\"><a style=\\\"text-decoration: underline;\\\" title=\\\"View WEF GSMI Technical Standards 2020 on Scribd\\\" href=\\\"https:\/\/www.scribd.com\/document\/480026140\/WEF-GSMI-Technical-Standards-2020#from_embed\\\">WEF GSMI Technical Standards 2020<\/a> by <a style=\\\"text-decoration: underline;\\\" title=\\\"View ForkLog's profile on Scribd\\\" href=\\\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\\\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\\\"lazy\\\" id=\\\"doc_57631\\\" class=\\\"scribd_iframe_embed\\\" title=\\\"WEF GSMI Technical Standards 2020\\\" src=\\\"https:\/\/ru.scribd.com\/embeds\/480026140\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-ZzGYXYI1BtMny6Mj3LfT\\\" width=\\\"100%\\\" height=\\\"600\\\" frameborder=\\\"0\\\" scrolling=\\\"no\\\" data-auto-height=\\\"false\\\" data-aspect-ratio=\\\"0.7080062794348508\\\"><\/iframe><\/p>\n<p>The authors of the GSMI report sought to provide a snapshot of the current state of the industry and to highlight gaps in technical standardization.<\/p>\n<p>In their view, most organizations that establish blockchain standards focus on certain areas and ignore others. Their interests and the scope of activity vary with the hype surrounding the technology.<\/p>\n<blockquote>\n<p>\u201cIt is important for all participants that the use of blockchain and standardisation efforts have a clear objective,\u201d the document states.<\/p>\n<\/blockquote>\n<p>The researchers describe recognizing these problems as the first step toward overcoming them. Regulators should raise knowledge and pursue collaboration, while industry representatives should participate in rulemaking.<\/p>\n<p>PwC <a href=\"https:\/\/forklog.com\/en\/news\/study-blockchain-to-boost-global-gdp-by-1-7-trillion-by-2030\">estimated<\/a> that mass adoption of blockchain will lift global GDP by $1.7 trillion by 2030. The greatest gains will go to China, whose economy will receive an additional $440 billion.<\/p>\n<p>In Moody&#8217;s report from last year, it was stated that blockchain technology would more likely be brought under common standards by 2021.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The effectiveness of standards for blockchain development and regulation depends on regulators&#8217; understanding of the technology, and the development of the sector on clear terminology. The findings are contained in a joint study by the World Economic Forum (WEF) and the Global Blockchain Business Council (GBBC).<\/p>\n","protected":false},"author":1,"featured_media":30105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[25,167,649],"class_list":["post-30104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain","tag-research","tag-standards"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30104"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30104\/revisions"}],"predecessor-version":[{"id":30106,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30104\/revisions\/30106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30105"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}