Tel-Aviv Stock Exchange Turns to Blockchain for New Lending Platform

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The Tel Aviv Stock Exchange is teaming up with Accenture and The Floor, an Israeli fintech hub, to build a blockchain securities lending platform aimed to permit direct financing of all financial instruments. The BSL will act as an one stop shop for all securities lending activities, permitting access to larger securities volumes within shorter time frames, even working in shorter term positions, a media release states. With the use of distributed ledger technology from blockchain consortium Hyperledger, the platform was designed to lessen costs, increase safety and provide more flexible financing tasks. More importantly, the project has been developed on top of Hyperledger’s Sawtooth platform, with hardware based Software Guard Extensions security provided by Intel.

Blockchain, the companies say, empowers better information privacy between the parties involved with transactions, as well as peer-to peer transactions, smart contract functionality and the safety of an immutable ledger. Ittai Ben Zeev, Chief executive officer of TASE, stated: Blockchain technology will present a brand new level of security for securities financing and will encourage growth for transactions based on this new platform. Without a doubt, TASE is now, more than ever before in the past, a worldwide financial innovation leader.” . For its role within the project, Accenture will work on the platform’s smart contracts development, as well as providing other services to encourage the BSL platform, including project management, system integration, cybersecurity consulting, and others.

We’re extremely pleased to offer our experience and capabilities in blockchain, capital markets and fintech ecosystems in order to facilitate this exceptional collaboration, said Jacob Benadiba, controlling your stresses director of Israel Accenture. This project will assist TASE make a sophisticated end-to end solution that addresses their business, technological and security needs under an extremely strong new paradigm.” . TASE image via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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