Right now the World Blockchain Enterprise Council (GBBC) introduced an replace of the Global Standards Mapping Initiative. Model one was printed in October 2020 together with the World Economic Forum (WEF), with model two developed by the GBBC and its members. The vary of subjects is much broader, together with 38 technical requirements, digital id and in depth protection of digital belongings and their regulation.
For instance, it maps 187 jurisdictions and their progress in the direction of implementing the FATF’s journey rule for digital currencies in addition to different laws and taxing cryptocurrency transactions.
“We’re proud to have incubated this initiative, and to have the assist of so many trade leaders, in addition to their invaluable time in bringing GSMI 2.0 to fruition. Because the trade continues to develop quicker than ever, we hope the GSMI will function a free useful resource for anybody searching for a macro, international perspective,” stated GBBC CEO Sandra Ro.
Digital identity is one other key subject that has come to prominence. It’s a excessive development space owing to its use for COVID travel passes and the growing want for compliance with digital belongings. It’s at present topical because the W3C requirements for DID have obtained formal objections from the most important browser corporations Google (Chrome), Apple (Safari) and Mozilla (Firefox).
An vital topic that has a bit in the primary report is the inexperienced economic system. The Interwork Alliance has targeted on creating blockchain requirements for carbon credits, and in October, it merged with the GBBC.