Digital Token Identifier Forum Discusses Crypto Standards
The Digital Token Identifier Foundation (DTIF) announces the first meeting of Digital Token Identifier (DTI) Product Advisory Committee, (PAC), which took place on Thursday 12th August, 2021. The DTIF is responsible for the DTI Registry and providing stewardship on DTI implementation, and is a new non-profit division of Etrading Software (ETS), the Registration Authority for the ISO Digital DTI standard, ISO 24165. The PAC has been established to discuss the new vendor-neutral, open, freely available, global DTI standard.
The PAC will meet monthly and one of the first areas of focus for this industry forum is stable-coins, a priority for the DTI Service upon launch in September. The PAC will also discuss such topics as how future regulatory changes will impact the crypto-market landscape.
The PAC comprises more than 20 members, representing a cross-section of crypto-market participants, global institutional investors, standards bodies, academics, asset managers and market infrastructure providers, from multiple global regions. The complete list of PAC members is available on the DTIF website (details below).
Sassan Danesh, Managing Partner of Etrading Software, said, “We are delighted to announce the first meeting of the PAC this week, and pleased that such a comprehensive cross section of industry both geographically and by sector is involved. This broadest collaboration, expertise and knowledge represented in both the DTIF and PAC will ensure for a DTI which will bring efficiencies and transparencies to the market.”
The crypto-asset class the DTI will cover includes crypto-currencies such as Bitcoin, as well as multiple other product types, such as stable-coins, security-tokens and utility-tokens. With thousands of crypto-assets in the market, and the list rapidly growing, there has so far been no standard way to identify one digital token from another. Currently, the same digital token can have multiple different identifiers. The DTI standard will work for industry to identify crypto asset trades to improve transparency and efficiency. It is expected standardization could help investors that operate at scale and consequently manage large operations groups to process crypto-asset transactions without having to significantly rework their existing systems and processes.
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