Readings / Blockchain Technology | Standards Michigan

Readings / Blockchain Technology

The key feature of blockchain technology is that it is decentralized; a central authority of trust is no longer necessary to confirm and process financial transactions.

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Readings / Blockchain Technology

November 16, 2019
mike@standardsmichigan.com
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Distributed Ledger Technology

The U.S. Commerce Department’s National Institute of Standards and Technology (NIST) issued a draft report — and a commenting opportunity the repport — that details a high-level technical overview of blockchain technology, its architecture, and how it works as the foundation of modern cryptocurrencies.  NIST requested feedback from the public and private sectors, national and international, for the final publication.  The document, Draft NIST Interagency Report (NISTIR) 8202: Blockchain Technology Overview, provided an in-depth look at the technologies that compromise blockchain systems and breaks down how blockchains can best be utilized, and how blockchain technology can be an asset to a business and its products.

“We want to help people understand how blockchains work so that they can appropriately and usefully apply them to technology problems,” said Dylan Yaga, a NIST computer scientist and co-author of the report. “It’s an introduction to the things you should understand and think about if you want to use blockchain.”

The report appears to have integrated public comment and now a landing page for NIST work in this area — as well as contact information for project leaders — is linked below

NIST Report on Blockchain Technology Aims to Go Beyond the Hype

Blockchain Technology Overview

NIST Headquarters / Gaithersburg, Maryland

We place the topic of blockchain technology standards on our monthly Finance & Management standards monthly teleconference.  We say “topic” because blockchain technology is a nascent (or “pre-adoption”) technology so there are few consensus products that are meaningful to the way we run the educational facilities at the moment.   See our CALENDAR for the next online meeting

Issue: [18-25]

Category: Finance, Academics,  Administration & Management

Colleagues: Mike Anthony, Jack Janveja, Richard Robben

 

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