The International Organization for Standardization (ISO) has approved a new blockchain standard proposal led by China, according to a CCTV report dated 3 Aug.
ISO Approves China-Led Standardization Initiative for BaaS: CCTV
The standard, titled "Blockchain and Distributed Ledger Technology: Technical Framework and Functional Requirements for Blockchain-as-a-Service," sets out a reference framework for Blockchain as a Service (BaaS), the model where a provider hosts and runs blockchain infrastructure so businesses can build on it without setting up their own nodes.
It will set requirements across three areas: infrastructure and network operation, service management and smart contract lifecycles, and data access, privacy and security compliance.
Alongside China, representatives from Germany, the United Kingdom, Ireland, Japan, Portugal and Uganda will help develop the standard, aimed at giving BaaS platforms a common reference point and easing the cost of connecting to legacy systems.