Tel Aviv Stock Exchange moves to blockchain
Advertisment


The Israeli stock exchange Tel Aviv Stock Exchange will use the blockchain in the future. Together with Accenture and The Floor, the exchange is currently working on a blockchain solution. They want to optimize trading in securities.

Bitcoin, no thanks – Blockchain, yes please! As in so many other countries, in Israel – at least on the stock market – the blockchain technology is positive. While the tax authority has been beating Bitcoin trading for quite some time, including searching social media channels to find merchants, the Tel Aviv Stock Exchange is currently considering a blockchain solution to streamline its financial processes.

The Israeli securities exchange wants to develop a credit platform, according to the press release. By eliminating middlemen, the use of blockchain technology is designed to help streamline operations within the exchange. In addition, the trading of securities should be safer in the future. The basis for this will be the Hyperledger protocol:

You want the latest news about Crypto? Sign up to our weekly Newsletter!


“Blockchain technology will provide a new level of security in securities trading and increase the growth rate of transactions. There is no doubt that the Tel Aviv Stock Exchange is now more than ever at the forefront of innovation in the financial sector. “

says Ittai Ben-Zeev, CEO of Tel Aviv Stock Exchange.

Tel Aviv Stock Exchange and Accenture want to use Smart Contracts

The technical development will be provided by Accenture. First and foremost, they want to use Smart Contracts for the planned platform. This is to ensure the automatic execution of the guidelines within the platform.

“We look forward to offering our expertise and capabilities in the blockchain, financial market and fintech ecosystem to this extraordinary collaboration. This project will help Tel Aviv Stock Exchange find an innovative end-to-end solution for their business, security and technology needs under a powerful new paradigm, “

says Jacob Bendita, Managing Director of Israel Accenture.

The Tel Aviv Stock Exchange is privately organized. It involves 12 Israeli banks, 3 foreign banks and 13 brokers.

image by shutterstock

Previous articleAnnouncing The OPEN Chain
Next articlePurse.io Adds Native BCH Support and Launches ‘Bcash’
TheBitcoinNews.com - Bitcoin News source since June 2011 - Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites. Advertise with us : Advertise