Digital token identifiers intend to set the benchmark for crypto

Come September, crypto tokens like Ethereum, Bitcoin and others will be taking one of their biggest moves towards legitimacy. A new digital registry is being developed that will add distinctive identifiers to these digital tokens. DTIs (Digital token identifiers) are being launched to monitor the movement of cryptos according to the International Organization for Standardization (ISO). This is expected to put into place one level of quality for all cryptos to follow.

How fruitful this endeavor will be, however, is a picture far from complete. It is definitely a different story and completely uncertain.

DTIs will be similar to unique identifiers placed on assets on regular fiat currency-based trading markets – such as derivatives and stocks. This allows others and regulators to identify assets, track them and measure risks involved in trading.

The DTI Foundation intends to do the same for the crypto market, which has usually been criticized for its role in supporting illegal transactions along with its unpredictable nature.

According to reports, the DTIs will be registered with the Foundation and it will use rules from the International Organization for Standardization (ISO), to be finalized by September this year. It will formally issue identifiers for the 100 most significant crypto tokens and assets, intending to cover above 80% of the market. This, definitely, will include top coins like Bitcoin, Ethereum, Dogecoin, Ripple and more.

Author: Diksha Khiatani

A writer by day and a reader at night. Emerging from an Engineering background, Diksha is a travel freak and anxious to explore different cultures and religions. Inclined towards the off-beat places, she wishes to uncover the secrets on her Scooty (if possible). She always grabs some time to take a quick nap, listen to music, skating and eat a brownie.

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