Standardisation is critical to enabling effective decentralization.
ISO Blockchain Standards
ISO predicts that ISO-20022 will support 80 percent of transaction volumes and 87 percent of transaction value worldwide by 2025.
In Europe, the deadline previously set was extended from November 2021 to November 2022. SWIFT and the European Central Bank have both announced go-live dates for 2022.
Ethereum Token Standards
A standard interface for fungible (interchangeable) tokens, like voting tokens, staking tokens or virtual currencies.
A standard interface for non-fungible tokens, like a deed for artwork or a song.
Allows people to build extra functionality on top of tokens such as a mixer contract for improved transaction privacy or an emergency recover function to bail you out if you lose your private keys.
ERC-1155 enables more efficient trades and bundling of transactions to save costs. This standard enables creating both utility tokens (such as $BNB or $BAT) and Non-Fungible Tokens like CryptoPunks.