BS ISO 24165-1:2021 Digital Token Identifier (DTI)

Standard Number: BS ISO 24165-1:2021

Pages: 18

Released: 2021-10-29

ISBN: 978 0 539 12918 2

Name: Digital Token Identifier (DTI). Registration, assignment and structure Method for registration and assignment

Status: Standard

Overview

In the rapidly evolving world of digital finance and blockchain technology, the need for standardized identifiers for digital tokens has never been more critical. The BS ISO 24165-1:2021 Digital Token Identifier (DTI) standard provides a comprehensive framework for the registration, assignment, and structure of digital token identifiers. This standard is essential for ensuring consistency, transparency, and interoperability across various digital platforms and financial systems.

Key Features

• Comprehensive Framework: The standard outlines a detailed method for the registration and assignment of digital token identifiers, ensuring a uniform approach across the industry.
• Enhanced Interoperability: By adhering to this standard, organizations can ensure that their digital tokens are easily recognizable and compatible with various systems and platforms.
• Improved Transparency: The standardized structure of digital token identifiers promotes transparency and trust among users and stakeholders.
• Global Recognition: As an ISO standard, BS ISO 24165-1:2021 is recognized and respected worldwide, providing a reliable reference for digital token identification.

Why Choose BS ISO 24165-1:2021?

The digital finance landscape is complex and constantly changing. Adopting a standardized approach to digital token identification is crucial for maintaining order and efficiency. The BS ISO 24165-1:2021 standard offers several benefits:

• Consistency: A uniform method for registering and assigning digital token identifiers helps maintain consistency across different platforms and systems.
• Security: Standardized identifiers reduce the risk of errors and fraud, enhancing the security of digital transactions.
• Efficiency: Streamlined processes for token registration and assignment save time and resources for organizations.
• Compliance: Adhering to an internationally recognized standard ensures compliance with global best practices and regulations.

Detailed Structure

The BS ISO 24165-1:2021 standard provides a detailed structure for digital token identifiers, including:

• Identifier Format: Specifications for the format and length of digital token identifiers.
• Registration Process: Step-by-step guidelines for registering digital token identifiers with the appropriate authorities.
• Assignment Criteria: Criteria for assigning digital token identifiers to ensure uniqueness and avoid duplication.
• Maintenance and Updates: Procedures for maintaining and updating digital token identifiers to reflect changes in the digital finance landscape.

Who Should Use This Standard?

The BS ISO 24165-1:2021 standard is designed for a wide range of stakeholders in the digital finance and blockchain sectors, including:

• Financial Institutions: Banks, investment firms, and other financial institutions that deal with digital tokens.
• Blockchain Developers: Developers and organizations involved in creating and managing blockchain platforms and applications.
• Regulatory Bodies: Government agencies and regulatory bodies responsible for overseeing digital finance and blockchain activities.
• Token Issuers: Companies and organizations that issue digital tokens for various purposes, such as fundraising, loyalty programs, and more.

Conclusion

In an era where digital tokens are becoming increasingly prevalent, the BS ISO 24165-1:2021 Digital Token Identifier (DTI) standard is an invaluable resource for ensuring the orderly and efficient management of digital token identifiers. By providing a clear and consistent framework for registration, assignment, and structure, this standard helps promote transparency, security, and interoperability in the digital finance ecosystem.

Whether you are a financial institution, blockchain developer, regulatory body, or token issuer, adopting the BS ISO 24165-1:2021 standard will help you navigate the complexities of digital token identification with confidence and ease.

BS ISO 24165-1:2021

This standard BS ISO 24165-1:2021 Digital token identifier (DTI). Registration, assignment and structure is classified in these ICS categories:

• 03.060 Finances. Banking. Monetary systems. Insurance

This document defines the assignment and generation of a random, unique, fixed-length identifier for digital tokens in response to a request for registration that conforms to specified application guidelines (see also ISO 24165-2 ).