10.5 | Standards Michigan

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Ethereum ERC-20

Much of the safety and sustainability “culture” in the education facility industry continues to be informed by fire safety and energy professionals who are funded by proven budgets.   However, as the Internet of Things transformation continues the build out of synaptic connections in every dimension of the #SmartCampus we find growing interest in distributed ledger technology (DLT).

The claim is that DLT is the Next Big Thing for the Internet.

As if our work in the physical spaces within and between buildings did not require enough time and resources, real asset managers now have to be mindful of DLT roll out on #SmartCampus.  The rollout takes us beyond the legacy notion of artificial intelligence, beyond the cultural zietgeist of bitoin and onto the other standardization systems where Ethereum — an open source, blockchain-based distributed computing platform – – is evolving continuously.

One of Ethereum’s most significant tokens — ERC-20 — has emerged as the technical standard used for all smart contracts on the Ethereum blockchain for token implementation.  The landing page for ERC-20 standardization activity is linked below:

As we have explained elsewhere on this site* open source standardization does not happen according to due processes accredited by ANSI and other national standardization bodies administered by the Geneva-based sister organizations ISO, IEC and ITU.

You may submit a proposal for improvement or comment upon the suggestions made by others at any time.  That is how open-source consortia standards work.

We refer blockchain applications to the IEEE Education & Healthcare Facilities Committee which has strong ties to the IEEE Blockchain Initiative.  The internet is, after all, an electrotechnology.  We also host one Blockchain teleconference per month.  See our CALENDAR for the next online meeting, open to everyone.

Issue: [Various]

Category: Blockchain, Information and Communication Technology, Finance, Management

Colleagues: Mike Anthony, Christine Fischer

*We direct you to ConsortiumInfo.ORG for more complete information about open source platforms.


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H.R. 528 / Blockchain Regulatory Certainty Act

Library of Congress 1868 print: “Across the Continent: Westward the Course of Empire Takes Its Way” / Shows the importance of railroads for U.S. settlement in the western territories.

To provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain services.

Blockchain

At 11 AM Eastern time today we review the status of open source standards for distributed ledger technologies that are now rolling out across the education sector; with particular interest in smart contracts and enterprise blockchain use cases for real asset registries and financial management of nearly every dimension of the education industry.   Use the login credentials at the upper right of our home page.

Standing Agenda / Blockchain

 

Framework of Blockchain Use in Internet of Things

Johannes Vermeer, View of Delft (Mauritshuis, The Hague) 1660-1661

The use of blockchain technology for Internet of Things (IoT) enables decentralized, autonomous communication (peer-to-peer, consumer-to-machine, machine-to-machine) without the need for a trusted intermediary.  These intermediaries exist in nearly every dimension of the education industry even though we may only be hardly aware of them.   Energy and municipal bond markets (that finance building construction and operation) are only two examples of spaces characterized by the presence of multiple intermediaries.

The need for standards that offer a protocol, common vernacular and support interoperability between blockchain platforms is gathering pace and the Institute of Electrical and Electronic Engineers (IEEE) is a natural home for them; though there is already significant competition among legacy standards developers; especially those financed by incumbent stakeholders.   Apart from the market-making among incumbents that is a natural part of the innovation cycle standardization of a framework for blockchain use in IoT will provide a base common understanding enabling innovation in IoT markets.

The IEEE 2418 group of standards provide a common framework for blockchain usage, implementation, and interaction in IoT applications.  Standard P2418.1 is the parent standard for the following spin-off standards which should interest @StandardsMich followers:

P2418.3 – Standard for the Framework of Distributed Ledger Technology (DLT) Use in Agriculture

P2418.4 – Standard for the Framework of Distributed Ledger Technology (DLT) Use in Connected and Autonomous Vehicles (CAVs)

P2418.5 – Standard for Blockchain in Energy

P2418.6 – Standard for the Framework of Distributed Ledger Technology (DLT) Use in Healthcare and the Life and Social Sciences

P2418.7 – Standard for the Use of Blockchain in Supply Chain Finance

P825 – Guide for Interoperability of Transactive Energy Systems with Electric Power Infrastructure (Building the Enabling Network for Distributed Energy Resources)

 

The framework contemplated in the P2418-suite addresses scalability, security and privacy challenges with regard to blockchain in IoT.  Blockchain tokens, smart contracts, transaction, asset, credentialed network, permissioned IoT blockchain, and permission-less IoT blockchain are included in the framework.  We start with foundational standard P2418.1 – Standard for the Framework of Blockchain Use in Internet of Things

P2418.1 is currently under development and, according to the IEEE Standards Association consensus product development process, will reach a milestone at the end of December 2021.  At the moment we are following but not actively participating on the committee because we are watching action in the competitive landscape among legacy accredited standards developers as well as emergent, open-source standards developers.   If you would like to participate in the development of the IEEE 2418 suite the IEEE contact person is Philip Wennblom (wennblom@ieee.org).

Whatever we do will be coordinated with the IEEE Education & Healthcare Facilities Committee which meets online 4 times monthly in European and American time zones.  We also include this standard on our Blockchain Standards teleconferences.  See our CALENDAR for the next online meeting.

 

Issue: [17-352]

Category: Blockchain, Energy, Finance & Management, Information & Communications Technology

Colleagues: Mike Anthony, Jim Harvey, Jack Janveja


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Statistical Significance of Outlying Observations

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