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,…