全球智库信息集成服务系统

Challenges facing DLT/Blockchain

• Lack of clarity on the terminology and perceived immaturity of the technology.
• Perceived risks in early adoption and likely disruption to existing industry practices.
• Insufficient evidence on business gains and wider economic impact.
• Lack of clarity on how the technology is/would be governed.
• Uncertainty around regulation.
• Multiple non-interoperable implementations and resulting fragmentation.
• Maintaining security and privacy of data.
• Ensuring integrity of data and strong encryption.
• Energy-intensive nature of the technology.
• Lack of clarity regarding smart contracts and how to implement them through DLT/Blockchain.

Opportunities for DLT/Blockchain

• Providing efficiency gains (including cost savings) for businesses and end-users.
• Enabling new economic and business models.
• Improving resilience and security in transactional systems.
• Empowering end-users and improving trust in transactions.
• Offering benefits for recording and reporting of data and activities through immutability capabilities.
• Enabling management of digital identity through public key cryptography.
• Providing the underlying mechanism for smart contracts and enabling smart auditing capabilities.

Prospective role of standards in relation to DLT/Blockchain

Although it is too early to consider standards related to technical aspects, standards can potentially play a role in the following areas:

• Establishing consensus on consistent terminology.
• Ensuring interoperability between multiple implementations.
• Addressing security, privacy and data governance concerns.
• Fostering trust, including managing end-user identity.
• Facilitating implementation of provenance tracking.