- Nov 30, 2020 11:04 pm GMT
Through a series of meetings spanning 2019 and 2020, the committee identified and discussed the potential impacts that new digital
technologies are having on the wide variety of market transactions that are currently addressed through NAESB
standards or may be in the future. These technologies have been credited with lowering the cost of data collection,
storage and processing and are enabling advanced analytics to drive better performance, increase productivity and
support better strategic decision making. The report developed by the Committee identified ten technologies or areas
that are advancing digitalization in the industry or will be impacted by the transition to increasingly digitalized
transactions and summarized the information gathered through the committee meetings and surveys distributed to the
NAESB Board of Directors and Advisory Council. Based upon the report’s findings, the NAESB Board of Directors
has determined that the organization should continue its focus on standards development to support distributed ledger
technologies and more generally, cybersecurity.
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