Blockchain Standards in International Banking: Understanding Standards Deviation

This article discusses how blockchain standards need to be integrated into the other standards of international banking to facilitate the effective use of the technology. The first part of the article describes the role that blockchain could perform in international banking and why standards are needed for this. The second part of the article describes the role that standards of many different types perform in international banking. The third part of the article describes areas of potential deviation between standards developed for the implementation of blockchain technology and the existing standards which apply to international finance and why these conflicts cannot be ignored.