Cyprus Blockchain Technologies joins the ISO/TC 307 as participating member
The Cyprus Blockchain Technologies Ltd. is a non-profit organisation established as a collaboration among academic institutions, including University College London Centre for Blockchain Technologies (UCL CBT) and CIIM – The Cyprus International Institute of Management, banks (including Bank of Cyprus and Hellenic Bank), as well as local regulators, financial institutions and technology associations and companies.
The aim of the centre is to conduct research as well as organise transfer of knowledge sessions and executive education on Blockchain and Distributed Ledger technologies (DLT) by bringing prominent academics and professionals from leading organisations from around the world. In addition, the centre will release whitepapers and research papers on applications of DLT on different sectors and what are their implications.
Recently, the centre was approved by the International Standardisation Organisation (ISO) to be a Participating Member on the new standard to be developed for the standardisation of Blockchain and Distributed Ledger Technologies, working with ISO/TC 307 Blockchain and Distributed Ledger Technical Committee. This is a great opportunity for the centre and Cyprus in general to express their interest and contribute scientifically to the formation of new industrial standards. The new ISO technical committee promises to take it to the next level, having now defined areas for future standardisation work.
Blockchain is a decentralised, global public (or private) distributed ledger or database running on millions of devices, where not just information but anything of value – money, titles, music, art, scientific discoveries, intellectual property, and even votes – can be transferred and stored privately and securely. Trust is established through mass collaboration and a clever code that makes Blockchain withstand modification, fraud or other types of attacks. Blockchain ensures integrity and transparency and has big implications for business and the corporation.