From the ISBD Review Web Site:
IFLA Cataloguing Section’s ISBD Review Group approved the recommendations from its Material Designation Study Group to develop an XML Schema for the ISBD. This has been considered important for the ISBD Updating Project from the aspect of researching into the possibilities of reviewing ISBD concepts and the standard itself by the application of web technologies to the field such as building an ISBD-XML schema, and of evolving the standard into a tool open to Semantic Web technologies and services. The ISBD/XML Study Group was formed and accepted by the Cataloguing Section Standing Committee during the IFLA meeting in Quebec, 2008.
The main goals of the project are (1) to build a consensus on the raison d’être of moving the ISBD into the web environment, and define possible uses of such a product, (2) to develop an ISBD-XML schema, (3) to ensure the interoperability of the product with similar ones such as MARC/DCXML schemas, at least at the conceptual level, within the current Semantic Web technologies and services, (4) to liaise with relevant constituencies in the field, and (5) to propose further development of software tools and services.
Read the Complete From the Report