World’s 4th Biggest Stock Exchange Looks to Blockchain for Securities Transactions
The fourth biggest stock exchange in the world aims to utilize DLT for more efficient securities transactions, according to a statement by the SSE.
The SSE, which had a $5 trillion cap on the Shanghai market by the end of 2017, states that ordinarily, people believe that the use of blockchain technology may assist securities by improving efficiency and transparency.
The exchange said that as a portion of the market adopts blockchain tech, the sector as a whole will begun to increasingly incorporate it within the next few years.
As China has banned crypto related events such as ICOs and free trade, officials have set their sights on controlling blockchain developments in the last year. Ratings for digital assets and blockchain-oriented projects have officially been released in the last two months, and local ratings are due to be released by 2019.
The trading of securities, however, lies strictly in international entities- Santander revealed earlier this week that they hired a team of researchers solely for the purpose of researching blockchain and finding out hit it can help their handling of securities.