Moody’s: Blockchain Technology to be Standardized in 2021

作者: Sarah Tran   Sep 09, 2019 1 分钟阅读

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A research report published on September 5th by financial services company Moody’s stated that blockchain technology would most likely be standardized in 2021.   

  

The drive towards the growth of blockchain and a deeper understanding of its potential and possibility will only start happening in 2021. Time and cost savings, automation, and faster data availability would be a result of the standardization. According to Moody’s, interoperability will also be improved, which would lead to better efficiencies in operations in business and related sectors.  

  

Frank Cerveny, a senior research analyst at Moody’s, said:  

“Standardization of blockchain technology would make its benefits more accessible for securitizations. Standardization would improve interoperability across systems and market participants, but also reduce counterparty concentration, operational and legal/regulatory risks for transactions that use blockchain technology.”  

As suggested by Moody’s, interoperability will only start coming around in 2021; therefore, there is still a year and a half before blockchain will be widely adopted. The report also states that global blockchain standardization is primarily driven by the International Organization for Standardization (ISO). 

 

 

Image via Shutterstock

About the author

Sarah Tran
Blockchain Journalist with a diverse background in the blockchain and crypto field.




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