Developing an industry standard for a new industry sector is never easy, particularly when the sector in question is growing at an explosive pace and constantly evolving. That is the case with the new industry-wide initiative in ‘dGoods standard’ which leverages the use of blockchain technology, and in turn supports and protects the creators of digital assets, the consumers and the resellers with the technology’s foundation as a decentralized and secure distributed ledger to manage digital goods efficiently and directly.
New standards are developed when industry leaders see that there is a need for regulation, i.e. a process is in need of regulating to protect the safety of workers, or a new type of product has been developed that requires some kind of control, occasionally a business wants to create a private standard for its own internal processes.
They can be put in place to address a broad range of issues like maximizing reliability and to ensure that a product works better, they address compatibility and interactivity issues with existing products, or they could be developed to secure the safety of consumers.
Mythical Games recently announced that they have teamed up with EOS Lynx, Scatter and several other blockchain companies to lead the effort to establish a standard for Distributed/Digital Goods (dGoods) which will help to advance a basis for a commercially accredited benchmark for creating, managing and distributing digital items on the EOS blockchain within the development community.
“Digital assets are at the core of the new economy that is spawning from blockchain technology.” Says Rudy Koch, Head of Blockchain, Mythical Games. “Hundreds of millions of digital items will be created, bought, and sold in the years ahead. It’s critical that we establish a meaningful digital goods standard that can support a diverse and innovative development community.” Explained Koch.
“When we looked at what was out there, we didn’t see anything that suited our needs at Mythical Games; and we weren’t the only ones. We’re proud to be collaborating with EOS Lynx, Scatter and many other great teams to bring the dGoods standard to the blockchain industry. And we’re excited to roll it out on EOS first.” Koch concluded.
In addition, Mythical Games have today, announced a revision in the ‘dGoods Standard’ by releasing the v0.1 Spec with the following key features:
The dGoods v.1 Spec is the public’s first look at the progress being made by the teams that are working together to support and bring the standard to market.
“The goal of our first draft was to make sure we captured the fundamentals while creating a solid foundation for the dGoods standard that we can continue to expand and build on top of.” Says Koch. “We’ve collaborated with some incredibly talented teams to design a spec that we’re confident sharing with the development community at large. The dGoods standard is a free and open standard aimed at supporting a diverse range of digital assets and requirements. With the release of this draft, we encourage those who are interested to review the spec, pressure test our design, and provide your valuable input.” Concludes Koch.
The dGoods Standard is initially being rolled out on the EOSIO blockchain with a vision to support and promote an industry standard of practice as the adoption of blockchain technology grows across all industries.
In an article published late last year on The Blockchain Domain, we discussed the announcement for L.A.-based Mythical Games - Blankos Block Party, an MMO party game which is due for release later this year. It is clear that the team’s dedication to the ownership of assets and user-generated content using blockchain technology is at the forefront.