Blockchain and Distributed Ledger Technologies (DLT) are promising tools to share data and manage transactions in a controlled manner. These technologies have a large potential to transform business operating models in the long term and can be integrated in multiple areas (smart contracts, digital currencies, securities, record keeping), with applications in a variety of different sectors, such as finance, insurance, energy, health, and eGovernment.
Blockchain and DLT have great potential in providing an infrastructure for trusted, decentralised and disintermediated services beyond the financial sector. Furthermore, in terms of Industry 4.0, blockchain is ideal for the secure and global sharing of sensitive information and represents a revolution in network communications.
In 2017, CEN and CENELEC created a joint Focus Group on Blockchain and Distributed Ledger Technologies (DLT). The primary objective of the Focus Group is to identify specific European needs and requirements for the implementation of blockchain and DLT in Europe, and to map these needs against the work items of ISO/TC 307 ‘Blockchain and distributed ledger technologies’.
The identification of such specific requirements has been formalised in the CEN-CENELEC White Paper 'Recommendations for Successful Adoption in Europe of Emerging Technical Standards on Distributed Ledger/Blockchain Technologies', which was developed by the Focus Group and approved by the CEN and CENELEC Technical Boards in October 2018.
The White Paper provides 26 recommendations, addresses priority topics such as sustainable development, digital identity, privacy and data protection, and highlights specific European use cases. It is a first milestone in the activity of the Focus Group, which will continue to release further editions of the White Paper, according to the developments in technology and on the global markets.
Should you want to comment the White Paper, or to join the Focus Group’s subgroup in charge of its development, please contact the Focus Group’s secretary, Carla Sirocchi.
For more information, please contact Constant Kohler.