Tel Aviv Stock Exchange Launches Blockchain-Based Securities Lending Platform


The Tel Aviv Stock Exchange (TASE) has introduced a blockchain platform for securities lending in a singular enterprise for the nation.

In partnership with town’s fintech hub – The Floor, administration consultants Accenture and expertise big Intel, TASE will probably be launching a platform known as “Blockchain Securities Lending” (BSL) which can harness blockchain expertise for securities lending.

The official press release explains that the BSL will perform as a “one-stop-shop for all securities lending activities, permitting access to larger securities volumes within shorter time-frames, even operating in shorter-term positions.”

Blockchain, the corporations say, improves information privateness for customers of the system, and permits peer-to-peer transactions, good contract performance and the safety of an immutable ledger.

Ittai Ben-Zeev, CEO of TASE, mentioned:

“Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform. Without a doubt, TASE is now, more than ever before, a global financial innovation leader.”

The corporations concerned additionally tout the elevated privateness that may come together with blockchain transactions – in addition to the diminished prices.

Originating throughout a hackathon in 2017, the platform was constructed utilizing Hyperledger’s Sawtooth infrastructure and utilises Intel’s Software Guard Extensions expertise to encrypt transaction information. Management consultancy agency Accenture is engaged on the event of good contracts and safety amongst different options.

Blockchain, the corporations say, improves information privateness for customers of the system, and permits peer-to-peer transactions, good contract performance and the safety of an immutable ledger.

Rick Echevarria, Vice President of Software and Services Group at Intel defined the importance of blockchain for the monetary providers market:

“Intel believes blockchain can transform business processes, and Intel SGX technology is an important enabling technology for blockhain solutions. Today’s announcement is exciting as it demonstrates the progress made by TASE, The Floor, and Accenture in developing a solution that accelerates blockchain adoption and, more importantly, brings value to the financial services market in Israel.”

For its function within the mission, Accenture will work on the platform’s good contracts growth, in addition to providing different providers to assist the BSL platform, together with mission administration, techniques integration, cybersecurity consulting, and others.

“We are very pleased to provide our expertise and capabilities in blockchain, capital markets and fintech ecosystems in order to facilitate this exceptional collaboration,” mentioned Jacob Benadiba, managing director of Israel Accenture. “This project will help TASE create an innovative end-to-end solution that addresses their business, security and technological needs under an extremely powerful new paradigm.”



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*