Cryptography standards are needed to create interoperability in the information security world. Essentially they are conditions and protocols set forth to allow uniformity within communication, transactions and virtually all computer activity. The continual evolution of information technology motivates the development of more standards, which in turn helps guide this evolution. Imagine the chaos if all VCR manufacturers had different formats.
Standards are necessary to insure that products from different companies are compatible.
By establishing a well-examined standard, the industry can produce a more trustworthy product. Even a safe protocol is more trusted by customers after it becomes a standard, because of the ratification process involved. The government, private industry, and other organizations contribute to the vast collection of standards on cryptography. There are many types of standards, some used within the banking industry, some internationally and others within the government. Standardization helps developers design new products.