Blockchain Securities Lending Launched By Tel Aviv Stock Exchange


Tel Aviv Stock Exchange, in a partnership with Accenture, Hyperledger and Intel, has recently emitted a press release to the media stating that a new blockchain-based platform for securities lending would be launched by the company soon.

The platform will have the very original name of Blockchain Securities Lending and it will be the first platform of this type in Israel. Securities lending, in case you do not know, refers to the act of lending a certain financial derivative to interested investors and firms.

The main advantage of using the blockchain technology in this type of company is that it improves the security of the transactions by using smart contracts, which are automatic and non-refundable contracts that are made on the blockchain. Peer to peer technology can connect two people without having to use a third party platform.

This project began after a hackaton in March 2017, when members of The Floor, Tel Aviv Stock Exchange’s fintech hub, started to build and early design using the Hyperledger Sawtooth technology, which is a platform that supports distributed ledgers like the blockchain.

The Hyberledger Sawtooth is a project that was designed by Hyledger in a collaborative effort with 231 companies from 25 countries.

The CEO of Tel Aviv Stock Exchange, Ittai Ben-Zeev, has said that he is pleased to announce this project and that the blockchain technology will add new levels of safety for the users and support an even bigger volume of transactions on the new platform.

Jacob Benadiba, the manager of Accenture in Israel, believes that the blockchain is bringing innovation to global capital markets infrastructure and this is just an example of how fast things are changing.

Gil Devora, which is a co-founder of The Floor, sees this as the beginning of using the platform for so much more. He states that stock exchanges all over the world could benefit from what only the blockchain is capable of offering right now.

The VP of Software and Services Group at Intel, Rick Echevarria, defends the importance of the Intel SGX in enabling technology for blockchain solutions and states that this new venture will bring value to the financial market in Israel.

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