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It is often the case with new technology that can divide into different forms before consolidation takes place. It happened with VHS and Betamax tapes. It happened again with Blu-ray and HD DVD discs. The European Telecommunications Standards Institute (ETSI) has announced that it will bring together key industry players to discuss and explore blockchain technology, with the goal of keeping everyone on the same page.
In a statement released on their website, Sophie Antipolis of ETSI wrote: "The group will analyze and provide the basis for managing distributed distributed registries to be deployed in various industrial sectors and government institutions."
The group's goal will be to address the challenges of working with blockchain technology, find the uses for it and work on technology to define standards for architecture, interfaces and data models. The overall purpose will be discussed more during the kickoff meeting, to be held on 24 January 2019 at Telefónica, Madrid.
ETSI announced that the founding members of the group were Ericsson, Huawei, Intel, Telefónica and Vodafone. From the announcement, ETSI added two more members to the list of participants, Cadzow Comm Consulting and NEC Europe.
The group can really make a difference in the adoption of blockchain technology by industry giants. The ETSI boasts of being a body of 850 members, with members from 66 countries. Furthermore, ETSI is one of only three groups officially recognized by the EU as a standardization organization.
ETSI becomes part of another telecommunications group, the Office of Communications of the United Kingdom, which at the beginning of the year had announced that it would explore the use of technology blockchain to help solve the problems of countries with the management of its cumbersome collection of landline numbers.
This is an important turning point in the history of the blockchain, as companies begin to innovate and apply blockchain technology to their respective purposes. The Spanish company Acciona Energía has recently announced its intentions to monitor electricity generation using blockchain.
