Santiago Stock Exchange Set to Partner in Blockchain Consortium

A new blockchain project is being launched to help stabilize and improve Chile’s stock market and attract foreign investors.

The Santiago Stock Exchange (STE), Central Securities Depository (DCV), and the Global Trade Directory (GTD) are set to establish a blockchain association, in order to work on a Hyperledger blockchain initiative. This, according to a BNamericas report, released on August 27, 2019.

The Technology Consortium will be looking into various use cases for distributed ledger technology (DLT) in the nation’s financial industry. The Consortium will aim to work on projects that enhance communications for local and international investors participating in Chile’s stock exchange.

During the next 18 months, the association members are planning to establish the Business Blockchain Network. The new network will run on a set of nodes, which will allow for interconnectivity, in order to “reduce applications, times, and costs of administrative processes.”

José Antonio Martínez, the general manager of the Santiago Stock Exchange, said:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

In 2018, the STE launched the Linux Foundation’s Hyperledger framework to enhance the exchange’s short selling and other financial products. The Hyperledger technology stack is an enterprise-level, permissioned (private) blockchain network.

Recently, the International Swaps and Derivatives Association (ISDA) also started using certain components of the Hyperledger software.

During the course of the next six months, the association intends to formally define and complete the project’s main objectives. The Consortium members will be seeking feedback from the concerned parties. Production releases could begin after the relevant details have been finalized.

Latin American Banking Service Provider to Conduct Bitcoin Blockchain-based Cross-Border Transfers

On August 13, 2019, Bantotal, a major Latin American banking technology company, partnered with crypto exchange Bitex, in order to conduct Bitcoin blockchain-based cross-border transactions.

Manuel Beaudroit, chief marketing officer at Bitex, said:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Bantotal is a leading Uruguay-based banking service provider that serves more than 60 financial institutions in 14 different countries.

Approximately 20 million people use the company’s money management services, a Bantotal representative said.

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

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New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

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Santiago Stock Exchange to Partner in Blockchain Alliance

A new Hyperledger blockchain initiative is looking to stabilize the Chilean stock market and lure in overseas investors.

The Santiago Stock Exchange (STE), Central Securities Depository (DCV) and the Global Trade Directory (GTD) will form a blockchain association for this task, according to a BNamericas report, published August 27.

The so-called Technology Consortium will examine use cases for blockchain in the financial sector, specifically in improving communications for domestic and international investors in the Chilean stock exchange.

Within 18 months, the association looks to institute the Business Blockchain Network that will operate a collection of nodes. Reportedly this interconnectivity will “reduce applications, times, and costs of administrative processes.”

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,” said the general manager of the Santiago Stock Exchange, José Antonio Martínez.

Last year, the STE implemented the Linux Foundation’s Hyperledger framework to support short selling and other financial instruments. The Hyperledger network is marketed as an enterprise-focused, permissioned blockchain. In recent months, the International Swaps and Derivatives Association (ISDA) also began integrating parts of the software.

Over the next six months, the consortirum will begin defining and finalizing the project’s details with input from affected institutions. Production releases are expected at 6 month intervals thereafter.

Earlier this month, a leading Latin American banking provider partnered with cryptocurrency exchange Bitex to facilitate cross-border payments on the continent using the bitcoin blockchain.

Metropolitan Cathedral, Plaza de Armas (Main Square), Santiago de Chile via Shutterstock

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HSBC Sets Record as First Bank to Complete Hyperledger Transaction Through We.trade

HSBC, one of the world’s major banking firms, has recorded a new win as the first bank to initiate and conclude a full finance transaction on the we.trade blockchain network. The transaction facilitated the acquisition of Beeswift, a client of HSBC which specializes in the production of protective equipment.

The we.trade platform plans began in 2017 and was officially registered as its own entity in April 2018. Since inception till now, it has on-boarded about 12 different firms as shareholders including UniCredit, Caixabank, HSCBC, Erste Group, Deutsche Bank, Nordea, Santander, Natixis, KBC, Rabobank, UBS and Société Générale.

The platform is based in Dublin, Ireland, and presents clients with the opportunity of tracking, and general management of all its transactions, especially between two or more firms. we.trade uses Hyperledger Fabric to support transactions in three major ways.

Firstly, the platform can help a firm find credible partners to transact with, making sure it’s all done online and in the most transparent of ways. After that, we.trade can help with a bank issued letter of credit called Bank Payment Undertaking (BPU). This is basically an undertaking presented by the bank representing the buyer, saying it will pay the required amount at a specific date. The BPU is irretrievable. Lastly, the seller can finance the payment in such a way that the BPU is discounted.

HSBC reportedly has its hands in another pie other than we.trade. Reportedly, Voltron, a blockchain powered by Corda is also being backed by the banking giant.

Image Credits: Unsplash

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HSBC Sets Record as First Bank to Complete Hyperledger Transaction Through We.trade

HSBC, one of the world’s major banking firms, has recorded a new win as the first bank to initiate and conclude a full finance transaction on the we.trade blockchain network. The transaction facilitated the acquisition of Beeswift, a client of HSBC which specializes in the production of protective equipment.

The we.trade platform plans began in 2017 and was officially registered as its own entity in April 2018. Since inception till now, it has on-boarded about 12 different firms as shareholders including UniCredit, Caixabank, HSCBC, Erste Group, Deutsche Bank, Nordea, Santander, Natixis, KBC, Rabobank, UBS and Société Générale.

The platform is based in Dublin, Ireland, and presents clients with the opportunity of tracking, and general management of all its transactions, especially between two or more firms. we.trade uses Hyperledger Fabric to support transactions in three major ways.

Firstly, the platform can help a firm find credible partners to transact with, making sure it’s all done online and in the most transparent of ways. After that, we.trade can help with a bank issued letter of credit called Bank Payment Undertaking (BPU). This is basically an undertaking presented by the bank representing the buyer, saying it will pay the required amount at a specific date. The BPU is irretrievable. Lastly, the seller can finance the payment in such a way that the BPU is discounted.

HSBC reportedly has its hands in another pie other than we.trade. Reportedly, Voltron, a blockchain powered by Corda is also being backed by the banking giant.

Image Credits: Unsplash

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HSBC Sets Record as First Bank to Complete Hyperledger Transaction Through We.trade

HSBC, one of the world’s major banking firms, has recorded a new win as the first bank to initiate and conclude a full finance transaction on the we.trade blockchain network. The transaction facilitated the acquisition of Beeswift, a client of HSBC which specializes in the production of protective equipment.

The we.trade platform plans began in 2017 and was officially registered as its own entity in April 2018. Since inception till now, it has on-boarded about 12 different firms as shareholders including UniCredit, Caixabank, HSCBC, Erste Group, Deutsche Bank, Nordea, Santander, Natixis, KBC, Rabobank, UBS and Société Générale.

The platform is based in Dublin, Ireland, and presents clients with the opportunity of tracking, and general management of all its transactions, especially between two or more firms. we.trade uses Hyperledger Fabric to support transactions in three major ways.

Firstly, the platform can help a firm find credible partners to transact with, making sure it’s all done online and in the most transparent of ways. After that, we.trade can help with a bank issued letter of credit called Bank Payment Undertaking (BPU). This is basically an undertaking presented by the bank representing the buyer, saying it will pay the required amount at a specific date. The BPU is irretrievable. Lastly, the seller can finance the payment in such a way that the BPU is discounted.

HSBC reportedly has its hands in another pie other than we.trade. Reportedly, Voltron, a blockchain powered by Corda is also being backed by the banking giant.

Image Credits: Unsplash

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