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The European Telecommunications Standards Institute (ETSI) is entering the blockchain game, having just created a new "industry-specific group", aimed at exploring the profitability and potential of blockchain technologies for various sectors.
The founding members include Ericsson, Huawei, Intel, Telefónica and Vodafone. These sector operators will specifically examine the use of authorized distributed mixed books, ETSI announced yesterday.
The new ETSI group will try to understand the challenges arising from the use of authorized distributed master books in business applications. ETSI hopes the group will be able to develop industry standards for the use of decentralized technology, including interfaces / APIs / protocols and information models.
Indeed, one of the biggest challenges when using decentralized or distributed technologies in cross-business contexts is the standardization of processes and workflows in a way that works for all parties involved. Otherwise it is likely to create more problems than it solves.
The working group will have its first meeting on 24 January 2019 at Telefónica, Madrid, where it will discuss the priorities of the project and elect the representatives of each of the participating companies.
ETSI is not the first telecommunications company to examine blockchain technology. At the beginning of this year, Ofcom, the British telecommunications regulator, announced that it was exploring technology to help manage the national database of available telephone numbers.
Published 19 December 2018 at 10:52 UTC
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