In what is quickly becoming a recurring theme among stock exchanges around the world, the Toronto Stock Exchange (TSX) is exploring blockchain technology applications for securities trading and clearing. The foray into understanding blockchain or distributed ledgers, the technology that powers the cryptocurrency Bitcoin is further helped by the TSX’s recent appointment of crypto entrepreneur and bitcoin evangelist Anthony Di Iorio.
Following recent examples of stock exchanges in Australia, the UK, the United States and Japan that have been embracing blockchain technology, Canada’s largest stock exchange is now joining the blockchain bandwagon.
As reported by Reuters, Jean Desgagne, CEO of global enterprise services at TMX, the TSX’s parent group also revealed that the stock exchange recently created the new position of a ‘chief digital officer.’ The move is to explore new innovative technology and solutions such as distributed ledger technology as a means to increase efficiency, reduce costs by negating the need for clearing houses and quickening transactions.
Speaking to the publication, Desgagne said:
Blockchain is a disruptive technology. We’re focused on