The Tel Aviv Stock Exchange (TASE) declares its new ‘Blockchain Securities Lending (BSL)’ project will basically rebuild the internal market by using some instruments of blockchain technology’s core facets such as direct peer-to-peer transactions, smart contracts and immutable data recording. The ‘private’ blockchain platform will be constructed on enterprise blockchain software Hyperledger Sawtooth and will use Intel as a technology partner to coify transaction data and save it private within the platform, among participants of a transaction. Accenture will head the joint-effort by processing the project, adopting it into the current systems and providing cybersecurity consulting to the further safety of the platform.
TASE specifies that the platform will support a ‘one-stop-shop’ for all ways of securities lending activities that will also be able to serve large volumes of safe transactions in faster timeframes as well as ‘operating in shorter-term positions’. The blockchain platform will also assist to decrease costs significantly for custodians and their customers.
The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform.
Chief Executive, TASE
The elaboration of the blockchain platform will first display an initial proof of concept (PoC). A wider deployment of the blockchain-based lending platform for the real-world will be promoted.