# ISO/TC 307 — Regulation for Blockchains & DLTs

The International Organization for Standardization (ISO) is an autonomous global entity, comprised of 168 [national standards bodies](https://www.iso.org/members.html). With his HQ is located in Geneva, Switzerland.


ISO unites experts from various fields to exchange knowledge and collaboratively create voluntary International Standards. Formed by consensus, these standards are designed to be relevant to the market, fostering innovation and offering solutions to worldwide challenges. ISO also performs consultative functions for the UN.

What does “**Standardisation”** mean? At its core, is the process of implementing and developing technical standards or laws based on the consensus of different parties, including governments, corporations, organizations, and consumers.

Some examples of most important ISO standards are:

- the **international date and time format**, ISO 8601 standard defines has streamlined global communication and business operations by ensuring that dates and times are consistently understood across different countries and cultures.
- the **physical characteristics of credit and debit cards,** ISO/IEC 7810 standard has quietly revolutionized our daily lives by enabling seamless electronic payments.

The goal of standardisation is to ensure consistency, compatibility, safety, and quality across products, services, and processes.

---
## ISO Historical Contributions

As you can probably tell, ISO it's a driving force that shapes our daily lives, industries, and the global economy. In fact, From the food we eat to the technology we use, ISO's influence is pervasive and profound.


Here's a closer look at some of the remarkable contributions ISO has made to the world, demonstrating its pivotal role in shaping a better future:

1. **Standardisation Across Industries**: ISO has developed over 23,000 International Standards that cover almost every industry, from technology and food safety to agriculture and healthcare. This ensures quality, safety, and efficiency.
2. **Environmental Protection**: Through standards like ISO 14000, ISO has helped organizations minimize their environmental impact, comply with regulations, and continually improve their environmental performance.
3. **Quality Management**: ISO 9001, the standard for Quality Management Systems, has enabled organizations worldwide to ensure that their products and services meet customer and regulatory requirements.
4. **Information Security**: ISO/IEC 27001 provides a framework for Information Security Management Systems (ISMS), helping organizations secure information assets.
5. **Food Safety Management**: ISO 22000 sets out the requirements for a food safety management system, helping organizations ensure food safety along the entire food chain.
6. **Energy Management**: ISO 50001 supports organizations in using energy more efficiently, thereby saving money and reducing greenhouse gas emissions.
7. **Health and Safety**: Standards like ISO 45001 help organizations improve employee safety, reduce workplace risks, and create better, safer working conditions.
8. **Accessibility and Inclusivity**: ISO has developed standards that ensure products, services, and environments are accessible to people with disabilities.
9. **Global Trade Facilitation**: By harmonizing standards across countries, ISO has facilitated international trade, making it easier for companies to sell products and services globally.
10. **Consumer Protection**: ISO standards ensure that certified products and services are safe, reliable, and of good quality, protecting consumer interests.
11. **Innovation and Technology Advancement**: ISO standards support innovation and technological advancement by providing guidelines and best practices for emerging fields like Artificial Intelligence, Blockchain, and the Internet of Things (IoT).

---
## But what did ISO do with blockchain and DLTs?

**WEF** believes that blockchain and DLTs have the potential to transform capital markets by creating trust in shared data sources, enabling greater automation, and facilitating more efficient asset transfer.

However, they emphasize that realizing these benefits requires cross-institution collaboration, breaking down traditional silos, uniting behind common standards, and actively engaging with regulators. The WEF sees the technology as promising but ***acknowledges that significant alignment and collaboration are necessary to unlock its full value***.

And here the ISO/TC 307 standard comes to the rescue!


### ISO/TC 307 - DLT & Blockchain Technologies

Founded in 2016, ISO/TC 307 marked a significant milestone in the standardization of blockchain technologies, acknowledging their growing importance across various industries. Since its inception, the committee has expanded rapidly, with participation from numerous countries and experts. They have been key in developing standards and guidelines in areas such as terminology, privacy, security, and interoperability.

As of August 12, 2023, the Secretariat of ISO/TC 307 is located in Australia, under the leadership of Chairman Mr. Craig Dunn. A prominent figure in both corporate and technological fields, Craig's extensive career includes serving as CEO of AMP Limited from 2008 to 2013, showcasing his leadership and expertise.

ISO/TC 307 operates through six "Working Groups" that focus on foundations, security, privacy, identity, smart contracts, use cases, governance, and interoperability. The committee's efforts are further supported by a vital collaboration between ISO and IET, resulting in the issuance of 11 ISO standards to date.

<div class="infogram-embed" data-id="4922423d-7193-4de9-a16e-d59d1ecf6340" data-type="interactive" data-title="Members World Map"></div>
<script>!function(e,n,i,s){var d="InfogramEmbeds";var o=e.getElementsByTagName(n)[0];if(window[d]&&window[d].initialized)window[d].process&&window[d].process();else if(!e.getElementById(i)){var r=e.createElement(n);r.async=1,r.id=i,r.src=s,o.parentNode.insertBefore(r,o)}}(document,"script","infogram-async","https://e.infogram.com/js/dist/embed-loader-min.js");</script>
<div style="padding:8px 0;font-family:Arial!important;font-size:13px!important;line-height:15px!important;text-align:center;border-top:1px solid #dadada;margin:0 30px"><a href="https://infogram.com/4922423d-7193-4de9-a16e-d59d1ecf6340" style="color:#989898!important;text-decoration:none!important;" target="_blank">Members World Map</a><br><a href="https://infogram.com" style="color:#989898!important;text-decoration:none!important;" target="_blank" rel="nofollow"></a></div>

### Pros for a Crypto Projects to be ISO/TC 307 Certified:

1. **Enhanced Credibility** - Obtaining ISO/TC 307 certification enhances credibility and reputation by demonstrating adherence to internationally recognized blockchain standards and best practices.
2. **Interoperability** - It promotes interoperability and integration with other platforms and systems by ensuring compatibility with ISO standards.
3. **Security and Privacy** - Compliance with data protection and cybersecurity standards instills confidence in security and privacy.
4. **Regulatory Compliance** - Following established technical standards assists regulatory compliance in multiple jurisdictions.
5. **Investor and Partner Confidence** - Signaling a commitment to transparency, quality, and accountability builds investor and partner confidence.
6. **Competitive Advantage** - Showcasing compliance with industry best practices provides a competitive edge over non-certified offerings.
7. **Alignment with Industry Best Practices** - Adhering to ISO's standards and processes enables continuous alignment with the latest innovations and improvements in blockchain technology.

## Use Cases in crypto ⬇️

### Quant Network

Quant Network's founder, Gilbert Verdian, played a pioneering role in initiating the development of Blockchain ISO Standard TC 307. This standard represents a significant stride in the field of blockchain and Distributed Ledger Technology (DLT), setting guidelines that have far-reaching implications.

Quant Network's Overledger, a groundbreaking platform, embodies the essence of this standard. It is designed to enable cross-blockchain data interoperability, a complex feat that allows different blockchains and existing systems to communicate and interact seamlessly. By adhering to the standardized interface based on ISO TC/307, Overledger ensures that it aligns with the principles and guidelines set by the ISO standard.

This alignment ensures that Quant isn’t just a technological marvel but a platform built on a foundation of compatibility, security, privacy, and identity. It can interact with various blockchain protocols and applications, creating a unified ecosystem that transcends the boundaries of individual technologies. This adherence to standardization not only enhances the functionality and reach of Overledger but also contributes to the broader goal of making blockchain and DLT more accessible, secure, and efficient. It's a vivid example of how international standards can drive innovation and collaboration in the rapidly evolving world of digital technology.

## Other Standards issued by ISO


### ISO/FDIS 22739 - Standardizing Blockchain Vocabulary

In the ever-evolving field of blockchain and distributed ledger technologies, clear and consistent terminology is vital. ISO/FDIS 22739, developed under the guidance of ISO/TC 307, aims to standardize the vocabulary used in this domain. By defining key terms and concepts, this standard ensures that professionals, researchers, and stakeholders across the industry speak the same language. This common understanding fosters collaboration, clarity, and precision, enhancing the quality and effectiveness of communication within the blockchain community. As of now, this standard is currently at stage 50.00, the approval stage. If it gets approved, it will replace the previous version, **[ISO 22739:2020](https://www.iso.org/standard/73771.html).**

### Interoperability Issue

Standardization in the field of blockchain and Distributed Ledger Technology (DLT) is essential for addressing the intricate challenge of interoperability. As the digital economy grows, the integration of various blockchain platforms, financial systems, and regulatory frameworks becomes crucial. Standardization serves as a cohesive force, establishing a shared language and protocols that enable different systems to interact smoothly.

This uniform approach ensures that technology from diverse organizations is compatible, secure, and efficient. It not only sparks innovation by allowing newcomers to expand on existing technology but also builds trust among stakeholders. In the business context, standardization can speed up market entry, cut development costs, and level the playing field to stimulate competition, aligning with broader economic, inclusive, and global collaboration goals.

Furthermore, in the fast-changing world of digital currencies, including CBDCs and stablecoins, standardization is key to international efficiency, trust, and risk mitigation. Adherence to globally recognized standards like those from ISO/TC 307 helps organizations align with industry best practices, comply with regulations, and maintain a dedication to ongoing enhancement.

### CBDCs

The global exploration and implementation of Central Bank Digital Currencies (CBDCs) have highlighted the critical need for interoperability. ISO/TC 307's standardization efforts in the blockchain and DLT field align with the World Economic Forum's principles, focusing on seamless integration, robust security, industry alignment, and innovation. This alignment shapes the future of digital currencies and enhances the credibility and compatibility of CBDC projects. Collaboration between central banks, policymakers, the private sector, and standardization bodies like ISO is paving the way for a harmonized digital payment ecosystem. The key takeaways from this discussion are:

1. **Alignment with Global Principles**: ISO/TC 307's efforts resonate with global principles for CBDC interoperability, underscoring the importance of standardization, security, and innovation.
2. **Unified Collaboration**: The synergy between various stakeholders, including standardization bodies like ISO, is essential for unlocking the full potential of CBDCs.
3. **Building a Digital Payment Network**: Adherence to international standards promotes an interconnected and efficient digital payment system, fostering financial inclusion, economic stability, and global trade.

### WEF's words

The World Economic Forum (WEF) strongly supports the role of standardization in advancing blockchain and distributed ledger technologies (DLTs), particularly praising the International Organization for Standardization (ISO). They recognize ISO's crucial role in shaping the global landscape of these technologies, emphasizing its work in developing standards for blockchain terminology, reference architecture, and interoperability.

ISO's commitment to innovation and collaboration has been key in creating uniform design and ensuring quality across different systems. By working with various stakeholders, including governments and corporations, ISO develops voluntary international standards that are market-relevant and solution-oriented.

The WEF's insights highlight the transformative potential of standardization, envisioning a future where it serves as a catalyst for growth and collaboration across diverse domains and industries. Their perspective offers a clear understanding of ISO's vital role in the dynamic world of blockchain and DLT, illustrating how standardization contributes to seamless communication and fosters innovation.


### Conclusion: The Transformative Role of ISO in Blockchain and DLT

In our exploration of ISO's impact on the world of blockchain and Distributed Ledger Technology (DLT), we've seen the transformative power of standardization. From the founding of ISO/TC 307 to the creation of standards like ISO/FDIS 22739, ISO's influence is evident in shaping our digital landscape.

**ISO/TC 307's Impact**: The committee's work goes beyond rule-making; it builds connections between technologies, ensures smooth communication, and encourages innovation, all while unifying a global team with a common vision.

**Unity Through Collaboration**: The combined efforts of ISO, governments, corporations, and the World Economic Forum (WEF) demonstrate a commitment to making technology more accessible, secure, and efficient. This collaboration paints a picture of unity and shared objectives.

**Bright Future Ahead**: ISO's dedication to quality, transparency, and accountability heralds a promising future for blockchain and DLT. Whether enhancing digital payments with CBDCs or ensuring platform interoperability, ISO is leading the way to a harmonized digital world.

**Reflecting on the Journey**: Our exploration of ISO's role in blockchain and DLT reveals a world where standardization fuels growth, collaboration, and innovation. It's an ever-changing landscape, and ISO is at the forefront of this evolution.

In closing, remember the essential role that ISO plays in shaping technologies like blockchain and digital currencies. Thank you for joining me on this insightful journey, and here's to the exciting possibilities that blockchain and DLT hold for our future!