What is ISO 24165-2 about?
ISO 24165-2 is the second part of the digital token identifier (DTI) multi-series.
ISO 24165-2 defines the data elements included in the registry record and is used to establish the 1:1 relationship between a digital token and the identifier assigned according to the method in ISO 24165-1.
The data elements described in ISO 24165-2 are used to distinguish one set of digital tokens from another and are, wherever possible, objective and publicly available. Inclusion in the registry and the issuance of an identifier signifies only the existence of the token and its 1:1 relationship to its identifier.
Note: Where traditional financial instruments or currencies are tokenized for electronic exchange and issued by a legal entity or a monetary authority responsible for it, other International Standards, such as ISO 6166 or ISO 4217, can apply. To eliminate confusion for users of this document, care has been taken to provide a clear definition and eligibility criteria for the assignment of a digital token identifier (DTI).
Who is ISO 24165-2 for?
ISO 24165-2 on Digital token identifier (DTI) is useful for:
- Traders in cryptocurrencies or crypto markets
- Regulatory bodies of cryptocurrencies
- Researchers of decentralized market
Why should you use ISO 24165-2?
There has been a significant rise in the crypto market or the digital market for trading. The trading process of these cryptocurrencies takes place in a decentralized manner. To maintain a record of these transaction activities, the digital coins or tokens need to be identified. Thus ISO 241652 helps to identify these digital tokens.
ISO 24165-2 is addressed to applicants seeking to identify digital tokens conforming to the definition provided in ISO 24165-1. The data elements described in ISO 24165-2 are used to distinguish one set of digital tokens from another and are, wherever possible, objective and publicly available. The data elements described in ISO 24165-2 help you to identify the class and type of the digital token through its digital identifier (DTI).
