Will binary XML speed network traffic?

XML has become integral to many critical enterprise technologies because of its ability to enable data interoperability between applications on different platforms. XML use is thus increasing rapidly. XML is so important that the industry is looking for ways to make its data load more manageable. XML currently uses only a plain-text format. The World Wide Web Consortium (W3C), which oversees and manages XML's development as a standard, and Sun Microsystems are working on binary XML formats. Some industry observers have expressed concern that multiple formats or proprietary implementations of binary XML could lead to incompatible versions, which would reduce the openness that makes the technology valuable. Because binary XML is suitable when network efficiency is important, users might decide to work with it only for high-volume applications that demand the best performance like financial transactions.