Blockchain consortia have the potential to take many successful pilots and proof of concepts that were done in the last few years, to commercialization, by bringing all relevant stakeholders on board. They can emerge as the preferred method of blockchain adoption for enterprises by creating industry level trust networks.

As blockchain technology continues to evolve, calls for clarity surrounding technical, regulatory, and governance models have intensified. GSMI is an unprecedented effort to map and analyze the current landscape of technical and regulatory standards aimed at inspiring responsible innovation.

The tally of 48 new consortia in the first seven months of 2020 is impressive. The visible slack compared to last year can be attributed to the COVID-induced disruptions that have rocked the IT-spending across sectors.