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ISO/NP 26611 Digital currencies — Taxonomy

Source:
ISO
Committee:
IST/12 - Financial services
Categories:
Information management | Standardization. General rules
Comment period start date:
Comment period end date:

Comment by:

Scope

This document proposes a taxonomy for digital currencies. The taxonomy includes a financial structure for digital currencies concepts, through the application of blockchain and DLT systems.

Purpose

Developing a taxonomy is a fundamental method to identify the characteristics of digital currencies and monitor growth of the emerging methods and technologies. Digital currencies are supported by important Blockchain and distributed ledger technologies and application areas that have distinct technical systems and classification criteria. The rapid evolution and fragmentation of digital currencies has led to disparate applications of blockchain and DLT systems used to transact in the decentralised finance domain. A standard taxonomy is needed to reduce market confusion and enable common understandings of the digital currencies systems. A standard taxonomy is a valuable component in its own right; but will also provide a foundational structure for the developing vocabulary and other potential standards. Digital currencies are no longer restricted to financial services so should be easily understood and usable in diverse sectors

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