Clear Helps Advance Interoperability Standards for Blockchain Technologies
As part of our mission to advance effective standardization of enterprise blockchain technologies internationally, Clear CEO, Gal Hochberg, participated in the International Telecommunication Union’s (ITU) Focus Group on Application of Distributed Ledger Technology (FG -DLT) in Geneva, Switzerland. The FG-DLT was established to develop recommendations and standards for DLT-based technologies on a global scale.
This is part of Clear’s larger mission to promote collaboration and healthy ecosystems and economies among global enterprises.
Gal was invited to present Clear’s use case for the telecommunications industry, demonstrating how Clear is working with industry leaders to enable secure, real-time trading, settlement and clearing on a global scale, and build industry-wide blockchain networks based on self-governance and interoperability. Following the presentation, Clear was invited to participate in several work units within the focus group.
“In decentralized systems, interoperability and standardization are paramount to creating healthy ecosystems and economies. We are proud to take part in the effort to create effective interoperable decentralized systems for settlement and clearing, and for DLT technologies in general,” Clear CEO, Gal Hochberg, said.
ITU is the United Nations specialized agency for information and communication technologies (ICTs), responsible for developing the technical standards that ensure networks and technologies seamlessly interconnect, among other things.
Established in 2017, the ITU-T Focus Group on Application of Distributed Ledger Technology (FG DLT) was established to: (1) identify and analyse DLT-based applications and services, (2) to draw up best practices and guidance which support the implementation of those applications and services on a global scale, and (2) to propose a way forward for related standardization work in ITU-T Study Groups.