EXECUTIVE SUMMARY

Blockchain technology holds immense promise to revolutionize not only the financial domain, but a whole host of things from societal inclusion to efficiencies in government, health and all areas of business.

ISO/TC 307, blockchain and distributed ledger technologies, has been set up to meet the growing need for standardization in this area by providing internationally agreed ways of working with it to improve security, privacy and facilitate worldwide use of the technology through better interoperability. This is especially relevant due to the number of SMEs, across various sectors, that are developing blockchain and distributed ledger technologies as a product.

The scope of ISO/TC 307 reads: “standardisation of blockchain technologies and distributed ledger

technologies.”

As of 2018-03-13, the standardization work of ISO/TC 307 has been divided into six groups:

● WG 1 Foundations;

● WG 2 Security, privacy and identity;

● WG 3 Smart contracts and their applications;

● SG 2 Use cases;

● SG 6 Governance;

● SG 7 Interoperability.

Blockchain and distributed ledger technologies is a rapidly evolving and expanding area. The need for collaboration and cooperation has been identified and ISO/TC 307 is liaising with the relevant ISO and IEC committees, as well as external organizations, to minimize any overlap.