Consultation is part of the DTI Foundation’s mission to enhance efficiencies and transparency within crypto and digital asset markets
London, 28 June 2024: The Digital Token Identifier Foundation, a non-profit division of Etrading Software Limited and the Registration Authority (RA) for the International Organisation for Standardisation (ISO) 24165 Digital Token Identifier (DTI) standard, has published its consultation paper seeking industry feedback on the principles underlying its cost recovery model for the DTI service. This represents a unique opportunity for stakeholders to help shape the framework that will deliver transparent and competitive crypto and digital asset markets.
The DTI enables unique identification of all fungible digital assets using distributed ledger technology (DLT) for token issuance, storage, exchange, ownership recording, or transaction validation. This consultation aims to gather feedback on the cost-recovery model for the DTI service, which is crucial for the financial viability and sustainability of the DTI Foundation. By involving industry stakeholders, the DTI Foundation strives to ensure that the fee model meets market needs and supports prudent financial management.
Consultation Timeline
- Publication of DTI Cost-Recovery Model Consultation: 28 June 2024
- Industry Feedback Deadline: 23 August 2024
- Publication of Final DTI Cost-Recovery Model Report: 18 October 2024
Industry Feedback and Participation
The DTI Foundation invites feedback from a broad spectrum of participants, ensuring diverse geographic and market representation. Respondents can offer alternative, evidence-based considerations to complement or replace the proposed model. All responses will be published on the DTI Foundation’s website, with an option for respondents to remain anonymous.
Submission Details
Responses should be sent to [email protected] by 6 PM UTC on Friday 23 August 2024. The consultation paper and response form are available above.
Sassan Danesh of the DTI Foundation, comments,
“Engaging with industry stakeholders is pivotal to our mission at the DTI Foundation. This consultation will help us develop a fair and sustainable cost recovery model that supports the long-term viability of our Digital Token Identifier service. By ensuring that our financial model meets the needs of the market, we aim to foster transparency and efficiency within the crypto and digital asset ecosystem.”
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About the DTI
The ISO DTI standard enables unique identification of all fungible digital assets using distributed ledger technology (DLT) for token issuance, storage, exchange, ownership recording, or transaction validation. The DTI consists of a unique nine-character alphanumeric code and a record of relevant data maintained by the DTI Foundation. This standard supports regulators and market participants in managing risks through greater transparency.
About The Digital Token Identifier Foundation
The Digital Token Identifier Foundation (DTIF) is a non-profit division of Etrading Software (ETS), a global regulatory data provider with a focus on solving market-wide problems by building market infrastructures for the new digital economy. DTI Foundation’s mission is to provide the golden source reference data for the unique identification of digital tokens based on ISO’s new standard for digital assets, ISO 24165. The DTI Foundation has already issued ISO identification codes for over two thousand of the most commonly traded digital assets, with more codes being added each day. All commonly traded digital assets can be assigned ISO-standard DTI codes.
For more information, please visit: www.dtif.org.
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