Blockchain is one of the most important technologies in the world of crypto, it is not surprising that every day introduces new features that should simplify the task of users. That is why experts predict that this technology will be completed up to the standards already in 2021, it said in the Moody's international rating Agency.
Many experts and analysts are inclined to believe that standardization is extremely positive development. Such changes should have a positive impact on the protection of the assets possessed by the users of the technology. Data will become more available as attachments, and the elapsed time is significantly reduced. Also, standardization will expand the range of activities in the exchange of information between different networks.
The developers believe that the low protection and the effectiveness of the processes affected by lack of interoperability and standardization actions. Starting blockchain technology users increase the risks of the loss of Fiat currency and leakage of personal data.
Frank Cerveny is a senior analyst at Moody's, he said - “standardization will improve interoperability of systems, and also reduce the presence of contractors and operational, legal and regulatory risks to transactions using blockchain technology”.
Exactly three years ago a Committee was formed, dedicated to standardization in the field of blockchain, in may 2017, Australia, who headed the Committee, has provided the public a special card, in which were specified the characteristics of standardization.
Policy of the Russian Federation was far from this kind of technology, however, in August 2018, was established by the Federal Agency, which began to engage in their own development of standardization of solutions based on the blockchain.