French Financial Coalition Aims to Foster Blockchain Infrastructure

An assortment of groups have coalesced to sign a memorandum of understanding (MOU) to help advance and foster the development of a post-trade Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term infrastructure for small, medium enterprises (SMEs) in Europe.

The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Conference.

The list entails some household names in the banking and institutional space, which includes BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, and Société Générale. Presently, blockchain technology is utilized via a virtual ledger that helps aggregate data for shared distribution between multiple users. The mechanism by which the blockchain operates acts as a pioneering technology that is widely used for data transmission in multiple sectors and across the financial services industry.

The newly inked MOU however is open to other international partners, with an inaugural agreement looking to help improve SMEs' access to capital markets whilst facilitating both secure and transparent post-trade operations. In addition, the initiative is part of an ongoing development and strategy of a new regulatory environment throughout France that aims to enhance the circulation of securities using blockchain technology.

In particular, the partnership's main strategy is to help combine its constituent members' financing capacity and expertise to aggregate innovation through a newly consolidated and independent entity – this will also emphasize blockchain technology in its design, development and deployment of innovative solutions for post-trade.

According a recently released statement by the joint partners involved in the MOU: “We wanted to engage collaboratively in order to mount an innovative project with the potential to drive the transformation of the post-trade market. By pooling our strengths in this ground-breaking area, we are focusing on new solutions that will give small and mid-sized companies -- key actors for growth in Europe – easier access to the financing they need.”