Blockchain Standard: Can We Reach Consensus?

Abstract

In this article, we study ongoing blockchain and distributed ledger technologies (DLT) standardization. To this end, we list standards organizations and the efforts they devote to standardise blockchain and DLT. We then identify a lack of terminology that can hamper communication on this topic and propose clarifications to address these ambiguities. Finally, we propose a high-level description of blockchain and DLT by describing three elements of their functional architecture.