18 March 2018

FinTech Australia maps out blockchain standards

06 March 2017  |  5219 views  |  0 Source: FinTech Australia

Australian fintech companies were in the box seat to take advantage of blockchain technology, following the release of an important standards roadmap, the peak body for Australia’s fintech industry said today.

On 2 March, Standards Australia released its Roadmap for Blockchain Standards Report, which outlines how the organisation will work to deliver measures to support the privacy, security and interoperability of blockchain systems.

The report is part of a wider initiative led by Standards Australia to develop international blockchain standards, with the support of the Australian Government.

Standards Australia is the secretariat for the International Organization for Standardization’s (ISO) technical committee which is developing new international standards on blockchain.

FinTech Australia CEO Danielle Szetho said the release of the report was a welcome development which helped put Australia’s fintech industry in a strong global position to take advantage of this technology.

“Blockchain has almost unlimited potential to transform financial services, particularly in regard to international transactions,” Ms Szetho said.

“Australia’s rapidly-growing fintech industry is at the centre of the global game to take advantage of this new technology.

“FinTech Australia’s blockchain members had strong input into the development of this roadmap and we intend to work closely with Standards Australia on an ongoing basis to ensure any new standards are fintech-friendly and also serve the greater good.

“Already our members are developing exciting blockchain products, including to facilitate agricultural commodities, international payments and labour hire.

“For instance, FinTech Australia member AgriDigital in December 2016 successfully executed the world’s first-ever live settlement of a physical commodity on a blockchain between a grower and a buyer.

“The release of this roadmap is expected to spark further innovation among the many Australian companies ready to take advantage of blockchain technology.”

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit www.facebook.com/business/Visit http://info.nice.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Augmentum Fintech raises £94m in IPOAugmentum Fintech raises £94m in IPO
12068 views comments | 25 tweets | 5 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
7432 views comments | 8 tweets | 7 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
6695 views comments | 18 tweets | 17 linkedin
Barclays propels Coinbase into Faster PaymentsBarclays propels Coinbase into Faster Paym...
6538 views comments | 15 tweets | 28 linkedin
Capital One virtual assistant can now issue virtual card numbersCapital One virtual assistant can now issu...
6446 views comments | 12 tweets | 11 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job